Is Morgan, MN 56266 a buyer’s or seller’s market?
Morgan is a seller’s market. With about 2.4 months of supply and 0% 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 Morgan housing market right now
In the three months ending August 31, 2026, 0% of homes in Morgan, MN 56266 sold above their list price, the typical home went under contract in 46 days and there were 2.4 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 was about the same (0% then), homes sold more slowly (22 days then) and the median sale price rose 9% to $165,678. Overall, Morgan is less competitive than a year ago, which gives buyers more room.
Within Redwood County, homes here sell more slowly than in 62% 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.
Run the numbers for 56266
Nearby markets
Belview 56214 — /sq ftClements 56224 — /sq ftLamberton 56152Seller’s market $90 /sq ftLucan 56255 $139 /sq ft Browse all markets →Towns like Morgan nearby
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Questions about Morgan real estate
Is Morgan a buyer’s or seller’s market?
A seller’s market: there were 2.4 months of supply in Morgan, MN 56266 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 Morgan?
The typical home went under contract in 46 days in the latest three months.
Do homes in Morgan sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 94.0% of the list price.
What are property taxes in Morgan?
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 Morgan?
The median sale price was $165,678 in the three months ending August 31, 2026, about $116 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