Is Graceville, MN 56240 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Graceville is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market

Sold above original list—Share of sales, last 3 months

Median sale-to-list—Sold price ÷ list price

Median days on market—Listing to accepted offer

Median price per sq ft—

The Graceville housing market right now

There haven’t been enough recent sales here for a detailed summary yet.

About the area

Big Stone County, MN

Population	796
Median income	$76,500
Average income	$98,514
Median home value	$153,400
Median rent	$739/month
Owner-occupied	66% of homes
Median year built	1971

Natural hazard riskWinter storms (very high), hail (relatively high), extreme heat (moderate)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 56240; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 56240

Prefilled for 56240Can I win this house?Multiple-offer likelihood for a listing Prefilled for 56240Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Barry 56210 $60 /sq ft Beardsley 56211 $40 /sq ft Clinton 56225Buyer’s market $180 /sq ft Odessa 56276 $132 /sq ft Browse all markets →

Where Graceville is

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Questions about Graceville real estate

What are property taxes in Graceville?

About 0.87% of a home’s value a year in Big Stone County, or roughly $3,480 on a $400,000 home.

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More tools for 56240

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value Big Stone County property taxes Big Stone County loan limits Closing costs in Minnesota Hottest ZIP codes in Minnesota

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology