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Is Wheaton, MN 56296 a buyer’s or seller’s market?

Buyer’s market 3 months ending August 31, 2026 · Source: Redfin

Wheaton is a buyer’s market. With about 12.8 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Months of supply12.8Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list96.2%Sold price ÷ list price
Median days on market25Listing to accepted offer
Median price per sq ft$73▼ −13.7% vs. last year

The Wheaton housing market right now

In the three months ending August 31, 2026, 0% of homes in Wheaton, MN 56296 sold above their list price, the typical home went under contract in 25 days and there were 12.8 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.

Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold faster (161 days then) and the median sale price fell 52% to $174,924. Overall, Wheaton is more competitive than a year ago, so tougher for buyers.

Run the numbers for 56296

Prefilled for 56296Can I win this house?Multiple-offer likelihood for a listing Prefilled for 56296Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Dumont 56236 — /sq ftTintah 56583 $170 /sq ft Browse all markets →

Towns like Wheaton nearby

Find towns like Wheaton in other states →
Lidgerwood, ND58053 · 38 miles away75% similaryounger residents · 10 min longer commute Elbow Lake, MN56531 · 28 miles away70% similarpricier homes ($50K more) · 8 min longer commute Breckenridge, MN56520 · 33 miles away68% similarpricier homes ($63K more) · larger Ortonville, MN56278 · 33 miles away63% similarpricier homes ($99K more)

Where Wheaton is

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Questions about Wheaton real estate

Is Wheaton a buyer’s or seller’s market?

A buyer’s market: there were 12.8 months of supply in Wheaton, MN 56296 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 Wheaton?

The typical home went under contract in 25 days in the latest three months.

Do homes in Wheaton sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 96.2% of the list price.

What are property taxes in Wheaton?

About 0.99% of a home’s value a year in Traverse County, or roughly $3,960 on a $400,000 home.

What is the median home price in Wheaton?

The median sale price was $174,924 in the three months ending August 31, 2026, about $73 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