Stillwater, Minnesota, renowned for its historic charm and scenic riverfront, has experienced notable shifts in its real estate market. Understanding these trends is essential for prospective buyers, sellers, and renters.
Current Market Overview
As of April 2026, the median listing price in Stillwater stands at approximately $449,950, reflecting a 24.94% decrease from the previous year. Despite this decline, the median sold price has risen by 20.27% year-over-year, reaching $528,000. This divergence suggests that while listing prices have adjusted downward, actual sale prices have increased, indicating strong buyer demand.
Homes in Stillwater are selling faster, with the median days on market decreasing by 10.81% to 33 days. This acceleration underscores a competitive market where well-priced properties attract swift interest.
Rental Market Dynamics
The rental sector in Stillwater remains stable. The median rent is approximately $2,550 per month, with no significant change over the past year. This stability offers predictability for renters and reflects a balanced demand-supply dynamic in the rental market.
Neighborhood Spotlight: Downtown Stillwater
Downtown Stillwater presents a unique market scenario. In March 2026, the median sale price was $430,000, marking a 21.6% decrease from the previous year. Homes in this area averaged 75 days on the market, an increase from 44 days the prior year. These trends may indicate a cooling in demand within the downtown sector, potentially offering opportunities for buyers seeking value in this historic locale.
Looking Ahead
While certain segments, like Downtown Stillwater, show signs of cooling, the broader market remains active. The decrease in listing prices coupled with an increase in sold prices suggests a market adjusting to new dynamics. For those considering entering the Stillwater real estate market, staying informed and consulting with local real estate professionals will be key to navigating this evolving landscape.