Is Waite Park, MN 56388 a buyer’s or seller’s market?
Waite Park is a seller’s market. With about 2 months of supply and 31% 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.
More competitive than 65% of U.S. ZIP codes, and #188 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 Waite Park housing market right now
In the three months ending August 31, 2026, 31% of homes in Waite Park, MN 56388 sold above their list price, the typical home went under contract in 25 days and there were 2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 33 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (30% then), homes sold about as fast and the median sale price rose 8% to $264,635. Overall, Waite Park is about as competitive as it was a year ago.
On our competition score, Waite Park ranks #188 of 296 MN ZIP codes with enough sales (score 62 out of 100).
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Where Waite Park is
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Questions about Waite Park real estate
Is Waite Park a buyer’s or seller’s market?
A seller’s market: there were 2 months of supply in Waite Park, MN 56388 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 Waite Park?
The typical home went under contract in 25 days in the latest three months.
Do homes in Waite Park sell over asking?
31% of homes sold above their original list price, and the typical sale closed at 97.8% of the list price.
What is the median home price in Waite Park?
The median sale price was $264,635 in the three months ending August 31, 2026, about $172 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