Stillwater, Minnesota, renowned for its historic charm and scenic St. Croix River views, continues to attract homebuyers and renters alike. Understanding the current real estate market dynamics is essential for those considering a move or investment in the area.
Current Market Trends
As of April 2026, the average home value in Stillwater stands at $450,923, marking a 3.7% increase over the past year. Homes typically go pending in around 25 days, indicating a brisk market pace. The median listing price is approximately $449,950, with 116 homes currently available for sale. Notably, the median sold price has risen by 20.27% year-over-year, reaching $528,000. This suggests that while listing prices have remained relatively stable, actual sale prices have experienced significant growth, reflecting strong buyer demand.
Rental Market Insights
For those considering renting in Stillwater, the market offers a range of options. The average rent is $2,291 per month, slightly above the national average of $1,930. This represents a 0.9% month-over-month increase, indicating a steady demand for rental properties in the area.
Neighborhood Highlights
Downtown Stillwater offers a unique blend of historic architecture and modern amenities. However, the housing market here has seen some shifts. In March 2026, the median sale price was $430,000, a 21.6% decrease from the previous year. Homes in this area now spend an average of 75 days on the market, up from 44 days last year. This trend may present opportunities for buyers seeking properties in this charming neighborhood.
Market Outlook
Looking ahead, the Stillwater housing market is expected to stabilize, with modest growth projected as mortgage rates ease and inventory conditions improve. Home prices are forecasted to rise by 2-4% in 2026, reflecting a return to more normalized market conditions. Affordability is improving as wage growth outpaces home price appreciation, and strong homeowner equity supports price stability.
In summary, Stillwater’s real estate market remains dynamic, offering opportunities for both buyers and renters. Staying informed about these trends will aid in making well-informed decisions in this evolving landscape.