Stillwater, Minnesota, renowned for its historic charm and scenic river views, continues to attract homebuyers seeking a blend of tradition and modern amenities. The local real estate market reflects this appeal, showcasing notable trends in home prices, inventory, and demand.
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 approximately 25 days, indicating a brisk market pace. The median listing price is $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 upward trajectory underscores the strong demand and competitive nature of the market.
Inventory and Demand
The market’s competitiveness is further highlighted by the limited inventory. With only 1.5 months of supply, sellers find themselves in a favorable position, often receiving offers above the asking price. In March 2026, 20 homes were sold, consistent with the previous year’s figures, while the median days on the market decreased to 21 days, down from 62 days the prior year. This swift turnover reflects the high demand and limited availability of homes in the area.
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 stability in rental prices provides predictability for tenants, while landlords benefit from consistent demand.
Looking Ahead
Industry experts anticipate a gradual stabilization of the housing market in 2026, with modest growth expected as mortgage rates ease and inventory conditions improve. Home prices in Stillwater are forecasted to rise by 2-4% throughout the year, 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 and strategic listing decisions.
In summary, Stillwater’s real estate market remains vibrant and competitive. Whether you’re looking to buy, sell, or rent, staying informed about these trends will help you make well-informed decisions in this dynamic landscape.