Is Milan, MN 56262 a buyer’s or seller’s market?
Milan is a buyer’s market. With about 16 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Milan housing market right now
In the three months ending August 31, 2026, 0% of homes in Milan, MN 56262 sold above their list price, the typical home went under contract in 29 days and there were 16 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 1 sale, these figures can swing a lot from month to month.
Nearby, Montevideo 56265 (10% sold over asking) is even more competitive.
Run the numbers for 56262
Nearby markets
Clara City 56222Seller’s market $96 /sq ftMaynard 56260 $58 /sq ftMontevideo 56265Buyer’s market $115 /sq ft Browse all markets →Where Milan is
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Questions about Milan real estate
Is Milan a buyer’s or seller’s market?
A buyer’s market: there were 16 months of supply in Milan, MN 56262 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Milan?
The typical home went under contract in 29 days in the latest three months.
Do homes in Milan sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 100.0% of the list price.
What are property taxes in Milan?
About 1.10% of a home’s value a year in Chippewa County, or roughly $4,400 on a $400,000 home.
What is the median home price in Milan?
The median sale price was $59,974 in the three months ending August 31, 2026, about $57 per square foot.
Local agents
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More tools for 56262
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology