Is Lucan, MN 56255 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Lucan is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market

Sold above original list0%Share of sales, last 3 months

Median sale-to-list96.5%Sold price ÷ list price

Median days on market54Listing to accepted offer

Median price per sq ft$139▲ +197.9% vs. last year

The Lucan housing market right now

In the three months ending August 31, 2026, 0% of homes in Lucan, MN 56255 sold above their list price and the typical home went under contract in 54 days. With only 2 sales, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold more slowly (27 days then) and the median sale price rose 189% to $332,356. Overall, Lucan is less competitive than a year ago, which gives buyers more room.

Within Redwood County, homes here sell more slowly than in 87% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.

Nearby, Lamberton 56152 (67% sold over asking) and Milroy 56263 (50% sold over asking) are even more competitive.

About the area

Redwood County, MN

Population	389
Median income	$66,667
Average income	$70,863
Median home value	$170,800
Median rent	$683/month
Owner-occupied	61% of homes
Median year built	1938

Natural hazard riskWinter storms (very high), extreme heat (relatively high), hail (relatively high)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 56255; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 56255

Prefilled for 56255Can I win this house?Multiple-offer likelihood for a listing Prefilled for 56255Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Belview 56214 — /sq ft Clements 56224 — /sq ft Lamberton 56152Seller’s market $90 /sq ft Milroy 56263Seller’s market $94 /sq ft Browse all markets →

Where Lucan is

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Questions about Lucan real estate

How fast do homes sell in Lucan?

The typical home went under contract in 54 days in the latest three months.

Do homes in Lucan sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 96.5% of the list price.

What are property taxes in Lucan?

About 1.00% of a home’s value a year in Redwood County, or roughly $4,000 on a $400,000 home.

What is the median home price in Lucan?

The median sale price was $332,356 in the three months ending August 31, 2026, about $139 per square foot.

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Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value Redwood County property taxes Redwood County loan limits Closing costs in Minnesota Hottest ZIP codes in Minnesota

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology