Is Thief River Falls, MN 56701 a buyer’s or seller’s market?
Thief River Falls is a balanced market. With about 4 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
More competitive than 41% of U.S. ZIP codes, and #251 of 296 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 August 31, 2026. See the breakdown
The Thief River Falls housing market right now
In the three months ending August 31, 2026, 23% of homes in Thief River Falls, MN 56701 sold above their list price, the typical home went under contract in 49 days and there were 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 40 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 17%, homes sold more slowly (43 days then) and the median sale price fell 7% to $189,918. Overall, Thief River Falls is more competitive than a year ago, so tougher for buyers.
On our competition score, Thief River Falls ranks #251 of 296 MN ZIP codes with enough sales (score 42 out of 100).
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Nearby markets
Goodridge 56725 — /sq ftSaint Hilaire 56754Seller’s market $114 /sq ft Browse all markets →Towns like Thief River Falls nearby
Find towns like Thief River Falls in other states →Where Thief River Falls is
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Questions about Thief River Falls real estate
Is Thief River Falls a buyer’s or seller’s market?
A balanced market: there were 4 months of supply in Thief River Falls, MN 56701 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 Thief River Falls?
The typical home went under contract in 49 days in the latest three months.
Do homes in Thief River Falls sell over asking?
23% of homes sold above their original list price, and the typical sale closed at 98.0% of the list price.
What are property taxes in Thief River Falls?
About 1.26% of a home’s value a year in Pennington County, or roughly $5,040 on a $400,000 home.
What is the median home price in Thief River Falls?
The median sale price was $189,918 in the three months ending August 31, 2026, about $129 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