Hi everyone—Isabella Carlson here, sharing what I’m seeing in Stillwater’s real estate and housing scene lately. Whether you’re looking to buy, rent, or simply curious how development is changing the city, there’s plenty to pay attention to.
Current Market Snapshot: Prices & Inventory
Home sale prices in Stillwater have eased a bit: the median sale price over recent months sits around $436,000, down about 10% compared to the same period last year. Meanwhile, listings tend to stay on the market about 19 days. That’s steady—but fewer buyers seem to be closing deals than before.
For those shopping instead of selling, the median listing price spans nearer to $599,000, reflecting asking prices across city neighborhoods. That’s up modestly year-over-year. Homes in the $500–$600K range are common—and given Stillwater’s historic charm and commute access, that pricing reflects both desirability and the limits of available stock.
Rental Trends: What Renters are Paying
If you’re renting, costs are rising. The average rent across all property types is about $2,395 per month. That includes one-, two-, three-bedroom units and beyond. Studios come in lower, of course—closer to the $1,000–$1,200 range depending on location and condition.
Rent growth may be tapering slightly in some segments, but year-over-year numbers still show sharper increases—nearly 20% for a number of property types. Higher rents are pushing more folks to consider buying or live farther from downtown, but rising rates and down payments make that harder too.
New Projects, Developments & Housing Diversity
Stillwater isn’t standing still. A few major developments aim to expand housing options—both for purchase and for rent—and introduce more amenities.
- Central Commons: A mixed-use Planned Unit Development (PUD) on about 35 acres at Manning Avenue and Highway 36. Plans include a large grocery store, a drive-through coffee shop with fuel, and a 200-unit market-rate apartment complex. Infrastructure work, including road access and utility extensions, is ongoing.
- Brixton Townhomes: A proposed 108-unit townhouse project (for-sale), located at Manning Avenue North and 80th Street North. This would add newer ownership housing into Stillwater’s inventory.
- Lakeview Hospital Campus: Set for the northeast corner of Manning Avenue and State Highway 36, this medical campus will be a major anchor. Along with health services, it often lifts demand for nearby housing and amenities. Expected opening in early 2028.
- 80–90+ unit rehab or preservation efforts: For example, Rivertown Commons—a 96-unit complex serving seniors and those with disabilities—is undergoing acquisition and renovation, maintaining affordable housing with HUD’s Section 8 support.
What This Means for Buyers & Renters
Buyers: You’re getting more room to negotiate than a year ago. With slightly softer sales numbers and more inventory, walking away from a listing isn’t as risky. Stillwater remains a seller’s market in many areas, but price drops and longer listing periods are giving buyers more leverage. Consider newer developments like Brixton or custom opportunities in areas near Manning Avenue or the Highway 36 corridor for better value.
Renters: Demand continues to push rents up, especially for family-sized units or newer, amenity-rich developments. To find better deals, widen your search to neighborhoods just outside downtown or consider older properties. Also, watch for renovated units in preserved properties—that can be a sweet spot for affordability.
Looking Ahead: What to Watch
The upcoming infrastructure—roads, sewers, and the new hospital campus—will shape where development focus lands. Parts of western Stillwater near Highway 36 and Manning Avenue are becoming major growth corridors. That may shift both home values and where renters see options opening up.
Also, affordable and mixed-income housing projects—both new builds and rehab work—are vital if Stillwater hopes to stay accessible to families, seniors, and people working essential jobs. Public policy, zoning decisions, and developer partnerships are part of how that unfolds.
If you’re considering a move, a rental, or just tracking the market, Happy to dive into specific neighborhoods or types of homes—just let me know what you’re curious about.