Is Vergas, MN 56587 a buyer’s or seller’s market?
Vergas is a balanced market. With about 4.4 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Vergas housing market right now
In the three months ending August 31, 2026, 0% of homes in Vergas, MN 56587 sold above their list price, the typical home went under contract in 60 days and there were 4.4 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 11 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 22%, homes sold more slowly (24 days then) and the median sale price rose 32% to $449,805. Overall, Vergas is less competitive than a year ago, which gives buyers more room.
Within Otter Tail County, homes here sell more slowly than in 72% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Deer Creek 56527 (50% sold over asking) and New York Mills 56567 (38% sold over asking) are even more competitive.
Run the numbers for 56587
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 Vergas nearby
Find towns like Vergas in other states →Where Vergas is
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Questions about Vergas real estate
Is Vergas a buyer’s or seller’s market?
A balanced market: there were 4.4 months of supply in Vergas, MN 56587 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 Vergas?
The typical home went under contract in 60 days in the latest three months.
Do homes in Vergas sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 97.1% of the list price.
What are property taxes in Vergas?
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 Vergas?
The median sale price was $449,805 in the three months ending August 31, 2026, about $290 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