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 landscape is essential for those considering a move or investment in the area.
Current Market Trends
The Stillwater housing market has experienced notable changes. As of March 2026, the median sale price of homes reached $479,000, marking a 13.5% increase from the previous year. Homes are selling faster, averaging 21 days on the market compared to 62 days last year. This uptick indicates a competitive market, with many properties receiving multiple offers and selling above the list price.
Rental Market Insights
For those considering renting in Stillwater, the market offers a range of options. The average rent stands at $2,291 per month, slightly above the national average of $1,930. This reflects the area’s desirability and the quality of available rental properties.
Upcoming Developments
Stillwater is poised for growth with new residential projects on the horizon. Notably, the Brixton Townhomes development is set to introduce 108 for-sale townhome units at the southeast corner of Manning Avenue and Boutwell Road. Construction is anticipated to begin in the fall of 2026, offering modern living spaces in a sought-after location.
Considerations for Buyers and Renters
Given the competitive nature of the market, prospective buyers should be prepared for swift decision-making and potential bidding wars. Engaging with local real estate professionals can provide valuable insights and assistance in navigating the market. Renters should also act promptly when desirable properties become available, as demand remains high.
In summary, Stillwater’s real estate market reflects a dynamic environment with rising home prices, a robust rental sector, and promising new developments. Staying informed and proactive will be key for those looking to call Stillwater home.