Is Effie, MN 56639 a buyer’s or seller’s market?
Effie is a buyer’s market. With about 6.4 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Effie housing market right now
In the three months ending August 31, 2026, 100% of homes in Effie, MN 56639 sold above their list price, the typical home went under contract in 25 days and there were 6.4 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 2 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking rose from 0%, homes sold faster (147 days then) and the median sale price fell 5% to $239,896. Overall, Effie is more competitive than a year ago, so tougher for buyers.
Within Itasca County, homes here sell faster, and more often over asking, than in any other ZIP code in the county.
Nearby, buyers who want less competition could look at Wirt 56688 (0% sold over asking) or Marcell 56657 (0% sold over asking).
Run the numbers for 56639
Nearby markets
Bigfork 56628Balanced $189 /sq ftBovey 55709Seller’s market $168 /sq ftCalumet 55716Seller’s market $130 /sq ftCohasset 55721Seller’s market $221 /sq ft Browse all markets →Where Effie is
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Questions about Effie real estate
Is Effie a buyer’s or seller’s market?
A buyer’s market: there were 6.4 months of supply in Effie, MN 56639 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 Effie?
The typical home went under contract in 25 days in the latest three months.
Do homes in Effie sell over asking?
100% of homes sold above their original list price, and the typical sale closed at 100.2% of the list price.
What are property taxes in Effie?
About 0.86% of a home’s value a year in Itasca County, or roughly $3,440 on a $400,000 home.
What is the median home price in Effie?
The median sale price was $239,896 in the three months ending August 31, 2026, about $388 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