Is Luverne, MN 56156 a buyer’s or seller’s market?
Luverne is a buyer’s market. With about 10.6 months of supply, buyers usually have more time and more room to negotiate on price and terms.
More competitive than 23% of U.S. ZIP codes, and #292 of 307 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending July 31, 2026. See the breakdown
The Luverne housing market right now
In the three months ending August 31, 2026, 8% of homes in Luverne, MN 56156 sold above their list price, the typical home went under contract in 59 days and there were 10.6 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 13 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 19%, homes sold more slowly (45 days then) and the median sale price fell 12% to $226,702. Overall, Luverne is less competitive than a year ago, which gives buyers more room.
Nearby, buyers who want less competition could look at Jasper 56144 (0% sold over asking) or Hardwick 56134 (0% sold over asking).
Run the numbers for 56156
Nearby markets
Beaver Creek 56116 — /sq ftHardwick 56134Seller’s market $128 /sq ftHills 56138 — /sq ftJasper 56144Buyer’s market $166 /sq ft Browse all markets →Towns like Luverne nearby
Find towns like Luverne in other states →Where Luverne is
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Questions about Luverne real estate
Is Luverne a buyer’s or seller’s market?
A buyer’s market: there were 10.6 months of supply in Luverne, MN 56156 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Luverne?
The typical home went under contract in 59 days in the latest three months.
Do homes in Luverne sell over asking?
8% of homes sold above their original list price, and the typical sale closed at 95.6% of the list price.
What are property taxes in Luverne?
About 0.71% of a home’s value a year in Rock County, or roughly $2,840 on a $400,000 home.
What is the median home price in Luverne?
The median sale price was $226,702 in the three months ending August 31, 2026, about $133 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology