$75,000
6729 Ridgewood Dr
Cannon Falls, MN
0 ba
Land7,841 sqft lot
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Sarah Mitchell
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Compass Real Estate · Cannon Falls, MN
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Cannon Falls, MN(512) 555-0184TX License #0512847
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Cannon Falls, MN Housing Market
Strong seller's market-0.2% YoY
Zillow, August 2026 · Refreshes monthlyRedfin, through May 2026 · No longer updatingFreddie Mac via FRED, September 2026 · Refreshes weekly
The typical home in Cannon Falls, MN is worth $286,636, held roughly flat 0.2% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $360,194, -13.2% year over year (through May 2026). With 1.8 months of supply and homes going under contract in about 9 days, Cannon Falls is a strong seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $286,636 home is about $1,530/mo in principal and interest.
Key numbers for Cannon Falls, MN
Typical home value
$286,636
-0.2% in 12 months
Zillow, August 2026
Median sale price
$360,194
-13.2% year over year
Redfin, through May 2026
Days on market
9
Fast-moving
Redfin, through May 2026
Active listings
11
1.8 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$80,515
Home costs 3.6x income
U.S. Census ACS, 2023
Sale-to-list ratio
101.5%
Selling above asking
Redfin, through May 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Cannon Falls a buyer's or seller's market?
Strong seller's market1.8 months of supply9 days on market101.5% of asking
Cannon Falls, MN is a strong seller's market, based on 1.8 months of supply and homes selling in about 9 days. Under 2 months of supply is a severe shortage: expect competition on almost anything priced correctly, and little room to negotiate below asking.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Cannon Falls housing market data show?
Every row below is Redfin's final published month for Cannon Falls, MN. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $360,194 |
| Median list price | $289,000 |
| Year-over-year price change | -13.2% |
| Median price per sq ft | $189/sq ft |
| Median days on market | 9 days |
| Active inventory | 11 listings |
| Months of supply | 1.8 months |
| Sale-to-list price ratio | 101.5% |
| Homes sold (that month) | 6 |
| New listings (that month) | 3 |
| Listings with a price cut | 27.3% |
| Market condition | Strong seller's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Cannon Falls is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Cannon Falls is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Cannon Falls home prices moved?
Over the last three years the median sale price in Cannon Falls, MN rose 1.5%, from $355,000 to $360,194. The live Zillow value series has held roughly flat 0.2% in the last 12 months, which is the more current read now that Redfin's series has stopped. 27.3% of Cannon Falls listings cut their asking price in the final Redfin month — a high share, and the clearest sign that list prices were running ahead of what buyers would pay. For prices to fall meaningfully from here, supply would have to keep building past 1.8 months while the sale-to-list ratio slips below its current 101.5%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Cannon Falls?
Priced off the typical home value of $286,636 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $57,327 | $229,309 | $1,530/mo |
| 5% | $14,332 | $272,304 | $1,817/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $1,530, that implies roughly $65,581 a year before you add taxes and insurance. The median household in Cannon Falls earns $80,515, about $14,934 more than that threshold — the typical local household clears the payment on a typical local home with 20% down. That puts the price-to-income ratio at 3.6x — above the historical 3x norm but in line with much of the country in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Cannon Falls in the next 12 months?
Tell us your timeline. We send the Cannon Falls market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Cannon Falls?
Zillow does not publish a rent index (ZORI) for Cannon Falls, MN, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in Cannon Falls?
Active listings in Cannon Falls, MN went from 14 in April 2025 to 11 in May 2026, a -21.4% change. Falling inventory tightens competition. When supply drops while demand holds, sale-to-list ratios rise before the median sale price does.
| Month | Active listings | New listings |
|---|---|---|
| May 2025 | 13 | 5 |
| June 2025 | 15 | 12 |
| July 2025 | 19 | 7 |
| August 2025 | 18 | 3 |
| September 2025 | 15 | 3 |
| October 2025 | 19 | 8 |
| November 2025 | 16 | 2 |
| December 2025 | 16 | 1 |
| February 2026 | 12 | 4 |
| March 2026 | 6 | 1 |
| April 2026 | 9 | 8 |
| May 2026 | 11 | 3 |
Redfin, through May 2026
How does Cannon Falls compare to Minnesota and the U.S.?
Cannon Falls homes sell for $360,194 — 3% below the Minnesota median of $372,300. Against the national median of $410,700, Cannon Falls runs 12% lower. Year-over-year, Cannon Falls moved -13.2% against Minnesota's +1.3% — a bigger swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Cannon Falls, MN | $360,194 | -13.2% | 9 days |
| Minnesota statewide | $372,300 | +1.3% | 25 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Cannon Falls
What buyers should watch
- Months of supply, currently 1.8. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 27.3%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $287 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $286,636 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Cannon Falls listing goes under contract in 9 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 101.5% of asking. Price at the number you want and let competition do the rest.
- In the last published month Cannon Falls added 3 new listings against 6 sales — more clearing than arriving, which is the better window to list.
- Your equity moved -0.2% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Cannon Falls varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Cannon Falls
There are currently 11 homes listed for sale in Cannon Falls, Minnesota. The median listing price is $289K. Featured listings range from $75,000 to $675,000.
$75,000
6721 Ridgewood Dr
Cannon Falls, MN
0 ba
Land8,712 sqft lot
View photos & details
$75,000
6713 Ridgewood Dr
Cannon Falls, MN
0 ba
Land7,841 sqft lot
View photos & details
$82,000
6695 Ridgewood Dr
Cannon Falls, MN
0 ba
Land8,276 sqft lot
View photos & details
$98,000
6818 Timberview Ct
Cannon Falls, MN
0 ba
Land14,810 sqft lot
View photos & details
$101,000
6814 Timberview Ct
Cannon Falls, MN
0 ba
Land23,522 sqft lot
View photos & details
$154,900
L1b1 Country 24 Blvd
Cannon Falls, MN
0 ba
Land2.57 acres
View photos & details
$164,900
L2b1 County 24 Blvd
Cannon Falls, MN
0 ba
Land2.18 acres
View photos & details
$195,000
L2b2 County 24 Blvd
Cannon Falls, MN
0 ba
Land2.25 acres
View photos & details
$195,000
L1b2 County 24 Blvd
Cannon Falls, MN
0 ba
Land2.15 acres
View photos & details
$589,000
32420 59th Avenue Way
Cannon Falls, MN
5 bd3 ba2,479 sqft$238/ft²
House1.09 acres
View photos & details
$675,000
29555 Friendly Ave
Cannon Falls, MN
4 bd4 ba3,408 sqft$198/ft²
House1.26 acres
View photos & details
Looking to buy in Cannon Falls?
Get connected with a local real estate expert — free, no obligation.
Active listings
11
Homes on market
Median list price
$289K
Avg. days on market
9
Days until sale
New this week
3
Newly listed
Price drops:27.3%of listings
Sale-to-list:101.5%
How much do homes cost in Cannon Falls by property type?
How the Cannon Falls, MN market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $360,194 | $189/sq ft | 6 | 9 days |
| Townhouse | $325,000 | $209/sq ft | 2 | 37 days |
Who lives in Cannon Falls?
American Community Survey estimates for Cannon Falls. U.S. Census ACS, 2023
Population
4,216
Households
1,859
Median income
$80,515/yr
Median age
45.3 years
Owner-occupied
74.8%
Median home value
$262,100
Median gross rent
$983/mo
Mean commute
28.5 min
74.8% of occupied homes in Cannon Falls are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $262,100 against Zillow's $286,636 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions.
Which public schools serve Cannon Falls?
4 schools tracked · 1,058 students
The largest public schools serving Cannon Falls, MN by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Cannon Falls Secondary
Grades 6-12 · 562 students
CANNON FALLS ELEMENTARY
Grades PK-5 · 482 students
Pathways Program Grades 6-7
Grades 6-7 · 14 students
Cannon Falls HS Credit Recovery
Grades 9-12
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Cannon Falls, MN?
Ordered by distance from Cannon Falls, not by size. Compare Cannon Falls side by side with any of them.
Cannon Falls housing market FAQ
Is Cannon Falls a buyer's or seller's market?
Cannon Falls, MN is currently a strong seller's market. That read comes from 1.8 months of supply, homes going under contract in about 9 days, and sellers getting 101.5% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Cannon Falls?
The typical home in Cannon Falls, MN is worth $286,636 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $360,194, about $189 per square foot.
Is Cannon Falls cheaper than the rest of Minnesota?
Cannon Falls's median sale price of $360,194 is 3% lower than the Minnesota statewide median of $372,300, and 12% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Cannon Falls?
Homes in Cannon Falls, MN spent a median of 9 days on market before going under contract, versus 25 days statewide. Under three weeks means well-priced listings move before most buyers can schedule a second showing. (Redfin, through May 2026.)
What income do you need to buy a home in Cannon Falls?
At the current 30-year fixed rate of 7.03%, 20% down on a $286,636 home is about $1,530 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $65,581 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $80,515.
Are home prices rising in Cannon Falls?
The typical home value in Cannon Falls, MN held roughly flat 0.2% over the last 12 months, from $287,202 to $286,636 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Cannon Falls?
Cannon Falls ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Cannon Falls?
That depends on your timeline, not on a headline. What the data says today: Cannon Falls, MN is a strong seller's market with 1.8 months of supply, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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