Is Pennington, MN 56663 a buyer’s or seller’s market?
Pennington is a seller’s market. With about 1.6 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.
The Pennington housing market right now
In the three months ending August 31, 2026, 0% of homes in Pennington, MN 56663 sold above their list price, the typical home went under contract in 124 days and there were 1.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. 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 was about the same (0% then), homes sold more slowly (64 days then) and the median sale price rose 42% to $277,130. Overall, Pennington is less competitive than a year ago, which gives buyers more room.
Within Beltrami County, homes here sell more slowly than in 87% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Hines 56647 (100% sold over asking) and Kelliher 56650 (50% sold over asking) are even more competitive.
Run the numbers for 56663
Nearby markets
Bemidji 56601Seller’s market $170 /sq ftBlackduck 56630Seller’s market $110 /sq ftGrygla 56727 — /sq ftHines 56647Buyer’s market $182 /sq ft Browse all markets →Where Pennington is
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Questions about Pennington real estate
Is Pennington a buyer’s or seller’s market?
A seller’s market: there were 1.6 months of supply in Pennington, MN 56663 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 Pennington?
The typical home went under contract in 124 days in the latest three months.
Do homes in Pennington sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 101.4% of the list price.
What are property taxes in Pennington?
About 0.97% of a home’s value a year in Beltrami County, or roughly $3,880 on a $400,000 home.
What is the median home price in Pennington?
The median sale price was $277,130 in the three months ending August 31, 2026, about $190 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