Is Gary, MN 56545 a buyer’s or seller’s market?
Gary is a buyer’s market. With about 9.6 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Gary housing market right now
In the three months ending August 31, 2026, 0% of homes in Gary, MN 56545 sold above their list price, the typical home went under contract in 72 days and there were 9.6 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 (93 days then) and the median sale price rose 51% to $307,867. Overall, Gary is more competitive than a year ago, so tougher for buyers.
Within Norman County, homes here sell more slowly than in 60% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Run the numbers for 56545
Nearby markets
Ada 56510Seller’s market $82 /sq ftBorup 56519Seller’s market $132 /sq ftHalstad 56548Balanced $109 /sq ftHendrum 56550Buyer’s market $52 /sq ft Browse all markets →Where Gary is
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Questions about Gary real estate
Is Gary a buyer’s or seller’s market?
A buyer’s market: there were 9.6 months of supply in Gary, MN 56545 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 Gary?
The typical home went under contract in 72 days in the latest three months.
Do homes in Gary sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 94.8% of the list price.
What are property taxes in Gary?
About 0.94% of a home’s value a year in Norman County, or roughly $3,760 on a $400,000 home.
What is the median home price in Gary?
The median sale price was $307,867 in the three months ending August 31, 2026, about $140 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