Is Milroy, MN 56263 a buyer’s or seller’s market?
Milroy is a seller’s market. With about 0.8 months of supply and 50% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Milroy housing market right now
In the three months ending August 31, 2026, 50% of homes in Milroy, MN 56263 sold above their list price, the typical home went under contract in 36 days and there were 0.8 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 4 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking rose from 33%, homes sold more slowly (18 days then) and the median sale price rose 27% to $139,440. Overall, Milroy is more competitive than a year ago, so tougher for buyers.
Within Redwood County, homes here sell faster than in 63% of the county’s ZIP codes, and sell more often over asking than in 75%.
Nearby, buyers who want less competition could look at Wabasso 56293 (0% sold over asking) or Morgan 56266 (0% sold over asking), while Lamberton 56152 (67% sold over asking) is even more competitive.
Run the numbers for 56263
Nearby markets
Belview 56214 — /sq ftClements 56224 — /sq ftLamberton 56152Seller’s market $90 /sq ftLucan 56255 $139 /sq ft Browse all markets →Where Milroy is
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Questions about Milroy real estate
Is Milroy a buyer’s or seller’s market?
A seller’s market: there were 0.8 months of supply in Milroy, MN 56263 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 Milroy?
The typical home went under contract in 36 days in the latest three months.
Do homes in Milroy sell over asking?
50% of homes sold above their original list price, and the typical sale closed at 106.2% of the list price.
What are property taxes in Milroy?
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 Milroy?
The median sale price was $139,440 in the three months ending August 31, 2026, about $94 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology