Is Loman, MN 56654 a buyer’s or seller’s market?

Seller’s market 3 months ending August 31, 2026 · Source: Redfin

Loman is a seller’s market. With about 3.2 months of supply and 0% 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.

Months of supply3.2Under 4 months = seller’s market

Sold above original list0%Share of sales, last 3 months

Median sale-to-list98.9%Sold price ÷ list price

Median days on market—Listing to accepted offer

Median price per sq ft$212

The Loman housing market right now

In the three months ending August 31, 2026, 0% of homes in Loman, MN 56654 sold above their list price and there were 3.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 1 sale, these figures can swing a lot from month to month.

Within Koochiching County, homes here sell less often over asking than in any other ZIP code in the county.

Nearby, International Falls 56649 (16% sold over asking) is even more competitive.

About the area

Koochiching County, MN

Population	109
Median income	$51,250
Average income	$95,982
Median home value	$254,200
Owner-occupied	100% of homes
Median year built	1970

Natural hazard riskWinter storms (relatively high), hail (moderate)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 56654; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 56654

Prefilled for 56654Can I win this house?Multiple-offer likelihood for a listing Prefilled for 56654Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Big Falls 56627 — /sq ft International Falls 56649Balanced $103 /sq ft Kabetogama 56669Buyer’s market $180 /sq ft Littlefork 56653Buyer’s market $119 /sq ft Browse all markets →

Where Loman is

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Questions about Loman real estate

Is Loman a buyer’s or seller’s market?

A seller’s market: there were 3.2 months of supply in Loman, MN 56654 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.

Do homes in Loman sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 98.9% of the list price.

What are property taxes in Loman?

About 0.74% of a home’s value a year in Koochiching County, or roughly $2,960 on a $400,000 home.

What is the median home price in Loman?

The median sale price was $443,808 in the three months ending August 31, 2026, about $212 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