Is New York Mills, MN 56567 a buyer’s or seller’s market?
New York Mills is a seller’s market. With about 3.2 months of supply and 38% 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 66% of U.S. ZIP codes, and #176 of 307 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 July 31, 2026. See the breakdown
The New York Mills housing market right now
In the three months ending August 31, 2026, 38% of homes in New York Mills, MN 56567 sold above their list price, the typical home went under contract in 13 days and there were 3.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 13 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 29%, homes sold more slowly (8 days then) and the median sale price fell 12% to $184,820. Overall, New York Mills is more competitive than a year ago, so tougher for buyers.
Within Otter Tail County, homes here sell faster than in 94% of the county’s ZIP codes, and sell more often over asking than in 94%.
Nearby, buyers who want less competition could look at Vergas 56587 (0% sold over asking) or Erhard 56534 (0% sold over asking), while Deer Creek 56527 (50% sold over asking) is even more competitive.
Run the numbers for 56567
Nearby markets
Battle Lake 56515Balanced $251 /sq ftBluffton 56518Buyer’s market $170 /sq ftClitherall 56524Seller’s market $215 /sq ftDalton 56324Seller’s market $160 /sq ft Browse all markets →Towns like New York Mills nearby
Find towns like New York Mills in other states →Where New York Mills is
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Questions about New York Mills real estate
Is New York Mills a buyer’s or seller’s market?
A seller’s market: there were 3.2 months of supply in New York Mills, MN 56567 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 New York Mills?
The typical home went under contract in 13 days in the latest three months.
Do homes in New York Mills sell over asking?
38% of homes sold above their original list price, and the typical sale closed at 98.1% of the list price.
What are property taxes in New York Mills?
About 0.77% of a home’s value a year in Otter Tail County, or roughly $3,080 on a $400,000 home.
What is the median home price in New York Mills?
The median sale price was $184,820 in the three months ending August 31, 2026, about $132 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