56031, MN Housing Market
The 56031 housing market is somewhat competitive. The median sale price of a home in 56031 was $165K last month, down 2.9% since last year. The median sale price per square foot in 56031 is $116, up 0.4% since last year.
56031 Housing Market Trends
In January 2025, 56031 home prices were down 2.9% compared to last year, selling for a median price of $165K. On average, homes in 56031 sell after 36 days on the market compared to 31 days last year. There were 31 homes sold in January this year, down from 38 last year.

How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the 56031 housing market?
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
- Some homes get multiple offers.
- The average homes sell for about 5% below list price and go pending in around 35 days.
- Hot homescan sell for around list price and go pending in around 9 days.
View houses in 56031 that sold recently
Recently sold homes
- $163,000 Last Sold Price2 beds1 bath—sq ft101 Albion Ave #105, Fairmont, MN 56031List Price$165,000Sale to List1% under listDays on Market38 days101 Albion Ave #105, Fairmont, MN 56031
- $225,000 Last Sold Price3 beds3 baths—sq ft1355 Oak Beach Dr, Fairmont, MN 56031List Price$240,000Sale to List6% under listDays on Market88 days1355 Oak Beach Dr, Fairmont, MN 56031
- $388,000 Last Sold Price2 beds2 baths—sq ft2230 Red Bird Ln, Fairmont, MN 56031List Price$388,000Sale to List0% over listDays on Market501 days2230 Red Bird Ln, Fairmont, MN 56031
- $115,000 Last Sold Price2 beds2 baths—sq ft917 Victoria St, Fairmont, MN 56031List Price$119,900Sale to List4% under listDays on Market105 days917 Victoria St, Fairmont, MN 56031
- $140,000 Last Sold Price3 beds2 baths—sq ft215 Budd St, Fairmont, MN 56031List Price$140,000Sale to List0% over listDays on Market45 days215 Budd St, Fairmont, MN 56031
- $332,000 Last Sold Price4 beds3 baths—sq ft1815 Albion Ave, Fairmont, MN 56031List Price$349,900Sale to List5% under listDays on Market187 days1815 Albion Ave, Fairmont, MN 56031
- $216,000 Last Sold Price2 beds1 bath—sq ft1603 Cadillac Ave, Fairmont, MN 56031List Price$228,000Sale to List5% under listDays on Market248 days1603 Cadillac Ave, Fairmont, MN 56031
- $126,000 Last Sold Price3 beds3 baths—sq ft127 Maple St, Fairmont, MN 56031List Price$125,000Sale to List1% over listDays on Market33 days127 Maple St, Fairmont, MN 56031
See all recently sold homes in 56031.
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Schools in 56031
- Elementary
- Middle
- High
GreatSchools Rating
4/10 Fairmont Elementary School Public • PreK-6 | 908 Students | 1 reviews |
NR Southern Plains Education Coop. Public • PreK-K | 27 Students | N/A |
Climate's impact on 56031 housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that could impact homes in 56031.
Flood Factor - Minor
Flood Factor

Fire Factor - Moderate
Fire Factor

Wind Factor - Minor
Wind Factor

Heat Factor - Minor
Heat Factor

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