Is Wadena, MN 56482 a buyer’s or seller’s market?
Wadena is a seller’s market. With about 3.4 months of supply and 26% 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 45% of U.S. ZIP codes, and #247 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 Wadena housing market right now
In the three months ending August 31, 2026, 26% of homes in Wadena, MN 56482 sold above their list price, the typical home went under contract in 37 days and there were 3.4 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 28 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 13%, homes sold faster (43 days then) and the median sale price fell 2% to $199,913. Overall, Wadena is more competitive than a year ago, so tougher for buyers.
On our competition score, Wadena ranks #247 of 296 MN ZIP codes with enough sales (score 45 out of 100).
Nearby, buyers who want less competition could look at Verndale 56481 (0% sold over asking) or Menahga 56464 (12% sold over asking), while Sebeka 56477 (40% sold over asking) is even more competitive.
Run the numbers for 56482
Nearby markets
Menahga 56464Buyer’s market $186 /sq ftSebeka 56477Balanced $152 /sq ftVerndale 56481Buyer’s market $141 /sq ft Browse all markets →Towns like Wadena nearby
Find towns like Wadena in other states →Where Wadena is
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Questions about Wadena real estate
Is Wadena a buyer’s or seller’s market?
A seller’s market: there were 3.4 months of supply in Wadena, MN 56482 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 Wadena?
The typical home went under contract in 37 days in the latest three months.
Do homes in Wadena sell over asking?
26% of homes sold above their original list price, and the typical sale closed at 96.6% of the list price.
What are property taxes in Wadena?
About 1.04% of a home’s value a year in Wadena County, or roughly $4,160 on a $400,000 home.
What is the median home price in Wadena?
The median sale price was $199,913 in the three months ending August 31, 2026, about $133 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