Stillwater, Minnesota, continues to experience steady economic growth, marked by a robust housing market and a vibrant local business scene.
Housing Market Trends
The housing market in Stillwater reflects a dynamic environment. As of May 2026, the average home value stands at $452,749, representing a 3.9% increase over the past year. Homes typically go pending in around 11 days, indicating strong demand. The median sale price is $404,683, with a median list price of $423,283. Notably, 37.2% of sales have been over the list price, underscoring the competitiveness of the market.
Local Business Developments
The entrepreneurial spirit in Stillwater is evident through recent business openings. In May 2026, 20-year-old Ethan Sorensen launched E’s Gourmet Sandwiches in downtown Stillwater. The shop offers a variety of options, including hot chicken, burgers, and cold-cut Italian clubs. Sorensen, who began working in restaurants at 14, expressed both excitement and stress about opening his own establishment.
Additionally, the Greater Stillwater Chamber of Commerce has been active in welcoming new businesses. In February 2026, the Chamber celebrated the opening of Aire Serv of East Metro, a heating and air conditioning service provider. Owner Mason Bosch, along with his staff and local business community members, participated in the ribbon-cutting ceremony.
Community Development Initiatives
In February 2026, Jason Zimmerman joined the City of Stillwater as the new Community Development Director. Zimmerman is focusing on the Comprehensive Plan that will guide the city’s development efforts for the next two decades. He aims to build on the positive momentum within City Hall to shape Stillwater’s future growth.
These developments highlight Stillwater’s commitment to fostering a thriving economic environment, supporting local entrepreneurs, and planning for sustainable growth.