Faribault Real Estate Market Report: September 2024
In September 2024, the median sale price in Faribault was $312,500.
- Median Sales Price
- $312,500
- No prior comparison
- Homes for Sale
- 74
- No prior comparison
- Months Supply
- 3.4
- No prior comparison
- Balanced market
- Days on Market
- 64
- No prior comparison
- Closed Sales
- 20
- No prior comparison
- Percent of Original List Received
- 98.1%
- No prior comparison
What this means
The median sale price is currently $312,500.
Homes are averaging 64 days on market, and sellers are receiving 98.1% of their original asking price.
The area is currently a balanced market with 3.4 months of supply. There are currently 74 homes for sale.
In a balanced market, neither side has a steep advantage, making careful pricing for sellers and steady negotiation for buyers the key to success.
Common questions about the Faribault market
Is Faribault a buyer's or seller's market?
Faribault was a balanced market in September 2024, with 3.4 months of supply. Under about 3 months generally favors sellers, 3 to 6 months is considered balanced, and over 6 months favors buyers. There were 74 homes for sale.
How fast are homes selling in Faribault?
Homes that sold in September 2024 spent an average of 64 days on market. Sellers received 98.1% of their original list price on average.
Market trends in Faribault
| Month | Median sale price | Closed sales | Days on market | Months supply |
|---|---|---|---|---|
| August 2024 | $347,500 | 26 | 38 | 2.7 |
| September 2024 | $312,500 | 20 | 64 | 3.4 |
How Faribault compares with the Twin Cities region
In September 2024, the median sale price in Twin Cities (16-County Region) was $379,999.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published August 24, 2026.
Report published .
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