Is Montevideo, MN 56265 a buyer’s or seller’s market?
Montevideo is a buyer’s market. With about 9.8 months of supply, buyers usually have more time and more room to negotiate on price and terms.
More competitive than 3% of U.S. ZIP codes, and #294 of 296 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Montevideo housing market right now
In the three months ending August 31, 2026, 10% of homes in Montevideo, MN 56265 sold above their list price, the typical home went under contract in 121 days and there were 9.8 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 21 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 27%, homes sold more slowly (51 days then) and the median sale price rose 18% to $218,905. Overall, Montevideo is less competitive than a year ago, which gives buyers more room.
On our competition score, Montevideo ranks #294 of 296 MN ZIP codes with enough sales (score 9 out of 100).
Nearby, buyers who want less competition could look at Milan 56262 (0% sold over asking) or Maynard 56260 (0% sold over asking).
Run the numbers for 56265
Nearby markets
Clara City 56222Seller’s market $96 /sq ftMaynard 56260 $58 /sq ftMilan 56262Buyer’s market $57 /sq ft Browse all markets →Towns like Montevideo nearby
Find towns like Montevideo in other states →Where Montevideo is
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Questions about Montevideo real estate
Is Montevideo a buyer’s or seller’s market?
A buyer’s market: there were 9.8 months of supply in Montevideo, MN 56265 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 Montevideo?
The typical home went under contract in 121 days in the latest three months.
Do homes in Montevideo sell over asking?
10% of homes sold above their original list price, and the typical sale closed at 95.2% of the list price.
What are property taxes in Montevideo?
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 Montevideo?
The median sale price was $218,905 in the three months ending August 31, 2026, about $115 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