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Featured local agent — Fairmont, MN
Sarah Mitchell
Compass Real Estate · Fairmont, MN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Fairmont, MN Housing Market & Real Estate
Housing market overview · Updated monthly ·
$146,926median sale price
How is the Fairmont, MN housing market right now?
The median home sale price in Fairmont, MN is $146,926, down 9.6% year-over-year. Homes sell in an average of 57 days with 52 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Fairmont a buyer's or seller's market?
Fairmont, MN is currently a balanced market, based on 2.9 months of supply and homes selling in about 57 days. How we determine this →
Homes sold
18
Last 12 weeks
Days on market
57
Average pace
Active listings
52
2.9 months supply
Sale-to-list
96.8%
Below asking
What does the Fairmont housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $146,926 |
| Median list price | $179,000 |
| Year-over-year price change | -9.6% |
| Average days on market | 57 days |
| Active inventory | 52 listings |
| Months of supply | 2.9 months |
| Sale-to-list price ratio | 96.8% |
| Median price per sq ft | $101/sq ft |
| Homes sold (latest month) | 18 |
| New listings (latest month) | 21 |
| Listings with a price cut | 28.8% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Fairmont by property type?
How the Fairmont, MN market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $147,500 | $104/sq ft | 17 | 58 days |
| Condo / Co-op | $163,000 | $161/sq ft | 1 | 11 days |
Source: Redfin · Updated monthly
The Fairmont housing market is currently classified as a balanced market with a median sale price of $146,926. Prices have fallen 9.6% compared to last year, with homes spending an average of 57 days on market, indicating 2.9 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 3.0x provides context for how home values compare to local earning capacity.
Homes for sale in Fairmont
There are currently 52 homes listed for sale in Fairmont, Minnesota. The median listing price is $179K.
Active listings
52
Homes on market
Median list price
$179K
Avg. days on market
57
Days until sale
New this week
21
Newly listed
Who lives in Fairmont?
Population
10,348
Median income
$59,228/yr
Median age
46.5 years
Owner-occupied
65.8%
College grads
26.1%
Avg commute
15.2 min
Source: U.S. Census Bureau ACS
What are homes worth in Fairmont?
Zillow home value
$177,013
Price-to-income
3.0x
Source: Zillow Research
What is it like to live in Fairmont?
Fairmont is a community of approximately 10K residents with a median age of 46.5 years.The median household income is $59,228, which represents a working-class community with solid middle-income opportunities. 26.1% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 65.8%, reflecting strong community stability and long-term resident commitment. The average commute time is 15.2 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Fairmont offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Fairmont?
6 schools tracked · 1,922 students
The largest public schools serving Fairmont, 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.
FAIRMONT ELEMENTARY SCHOOL
Grades PK-6 · 974 students
FAIRMONT JR./SR. HIGH SCHOOL
Grades 7-12 · 844 students
SOUTHERN PLAINS AREA LEARNING CNTR.
Grades 8-12 · 59 students
SOUTHERN PLAINS BRIDGES
Grades K-12 · 23 students
SOUTHERN PLAINS EDUCATION COOP.
Grades PK-K · 17 students
POSITIVE APPROACH TO LEARNING
Grades K-12 · 5 students
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 Fairmont, MN?
Want a head-to-head view? Compare Fairmont side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Fairmont?
The median home sale price in Fairmont is $146,926, down 9.6% from last year.
How long do homes stay on market in Fairmont?
Homes typically spend 57 days on market before going under contract.
What is the median income in Fairmont?
The median household income is $59,228 per year.
Is Fairmont a buyer's or seller's market?
With 2.9 months of supply, Fairmont is currently a balanced market.
What is the Zillow home value estimate for Fairmont?
The Zillow Home Value Index (ZHVI) for Fairmont is $177,013, representing the typical home value in the area.
What is the median condo price in Fairmont?
The median condo/co-op sale price in Fairmont, MN is $163,000, compared to $147,500 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Fairmont?
The median single-family home price in Fairmont, MN is $147,500 (about $104 per square foot).
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