Stillwater, Minnesota, renowned for its historic charm and scenic beauty along the St. Croix River, continues to attract homebuyers and investors alike. Understanding the current real estate trends is essential for those considering entering this dynamic market.
Current Market Trends
As of mid-2026, the Stillwater housing market exhibits notable activity. The median sale price of homes stands at approximately $426,000, reflecting a 10.4% decrease compared to the previous year. Despite this dip, the market remains highly competitive, with homes typically selling within 20 days. Notably, many properties receive multiple offers, often exceeding the asking price by about 2%, and some “hot” homes can sell for approximately 4% above list price, going pending in around 7 days.
Inventory and Demand
The inventory in Stillwater is relatively tight, with only 1.5 months of supply available. This limited availability has led to increased competition among buyers. In March 2026, 20 homes were sold, consistent with the same month in the previous year.
New Developments
To meet the growing demand, new residential developments are emerging in Stillwater. Areas such as the McKusick Road and Neal Avenue corridor are experiencing expansion, offering build-on-your-lot opportunities and proximity to local amenities. These developments provide prospective homeowners with options that blend modern living with the city’s historic character.
Conclusion
Stillwater’s real estate market presents a blend of opportunities and challenges. While home prices have seen a slight decrease, the market’s competitiveness underscores the city’s desirability. Prospective buyers should be prepared for swift transactions and consider exploring new developments to find their ideal home in this vibrant community.