Is Faribault, MN a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Faribault is a seller's market


Difference Since August 2021

Since last year, Faribault has remained a Seller's Market.

Key Takeaway

Faribault is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Faribault, MN cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since August 2021


Key Takeaway

Homes in Faribault have sold for 5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSAug 2021Aug 2022%
1 $122K$135.9K
2 $175K$202.5K
3 $215K$230K
4 $252.9K$279.9K
5+ $280K$339.9K

Median Sold Price Compared To Nearby Cities

Cannon City Township
Wells Township

How many homes are available in Faribault, MN?

Number of Homes For Sale

Jul 2022Aug 2022%

Homes For Sale By Bedroom Count

# BEDSJul 2022Aug 2022%
1 00
2 109
3 4754
4 2523
5+ 1210

Number of Homes Sold

Jul 2022Aug 2022%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Faribault, you could pay more than the asking price. 48.1% of homes here sold above asking price last month.

Average Sale Time

Aug 2021Aug 2022%
14 Days23 Days+62.9%

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Faribault are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Faribault, MN

There are 96 homes are for sale in Faribault, MN real estate market. In August 2022 in Faribault, MN there were 2.1% more homes for sale than in July 2022. While the average time on the market in August 2022 was 23 days, the median list price was $236,250. Real estate listing prices changed between July 2022 and August 2022: prices of 1 bedroom properties increased by 11.4%, 2 bedrooms properties became 15.7% more expensive, prices of 3 bedrooms properties went up by 7%, 4 bedrooms properties prices increased by 10.7%, the cost of 5 bedrooms properties went up by 21.4%. This housing market inventory have changed: number of 1 bedroom homes remained the same, volume of 2 bedrooms homes went down by 10%, number of 3 bedrooms homes increased by 14.9%, 4 bedrooms homes inventory decreased by 8%, the quantity of 5 bedrooms homes went down by 16.7%. While more than 13 listings in Faribault, MN in August 2022 were sold above asking price, there were more than 5 listings sold at asking price, and more than 9 were sold below.