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ZIP 55031 in Farmington, MN: housing market trends

The median home sale price in ZIP 55031 in Farmington, MN was $599,824 for the three-month period ending September 2026. Sale prices were 57.7% higher than the same period one year earlier. These are area-level statistics; changes in the mix of homes sold can move the median.

Median sale price
$599,824
three-month period ending September 2026
Median sale price per sq ft
$188.53
three-month period ending September 2026
Active listings
9
three-month period ending September 2026
Typical monthly rent
Unavailable
Rent index · unavailable date

How is housing inventory changing?

There were 9 active listings for the three-month period ending September 2026. Active listings were 28.6% higher than the same period one year earlier. This counts homes active at any time during the period, not only those available on its final day.

How long are homes taking to sell?

The median time on market was 35 days for the three-month period ending September 2026. Sale prices, inventory, and selling time describe different parts of the market; none alone establishes what an individual home will sell for.

Home prices by property type

Published Redfin medians for each home type. Each row covers the three-month period ending in its listed month; missing values remain unavailable.

Property-type comparison for ZIP 55031 in Farmington, MN
Home typePeriod endingMedian sale priceSale price / sq ftHomes sold
All homesSeptember 2026$599,824$188.533 · small sample
Single-familySeptember 2026$599,849$188.523 · small sample
TownhousesSeptember 2026UnavailableUnavailableUnavailable
Multifamily (2–4 units)September 2026UnavailableUnavailableUnavailable

Compare nearby housing markets

Published city and place figures. Check each row’s reporting period and source before comparing; these are separate markets, not neighborhood boundaries.

Nearby market comparison for ZIP 55031 in Farmington, MN
MarketMedian sale priceReporting period / source
Hampton, MN$450,0003 months ending July 2026 · Redfin
Vermillion, MN$460,0003 months ending June 2025 · Redfin
Randolph, MN$417,2513 months ending September 2026 · Redfin
Cannon Falls, MN$301,1073 months ending September 2026 · Redfin
Hastings, MN$339,8383 months ending September 2026 · Redfin
Rosemount, MN$430,0033 months ending September 2026 · Redfin

Recent sale-price history

All residential home types. Each row represents an overlapping three-month period ending in that month. Use the charts above for the full available history and home-type filters. Missing values remain unavailable.

Recent home sale prices for ZIP 55031 in Farmington, MN
Period endingMedian sale priceSale price / sq ftActive listings
September 2026$599,824$188.539
August 2026$607,500$192.006
July 2026$525,000$192.006
June 2026$450,000$195.436
May 2026$410,000$177.987
April 2026$299,900$177.987
March 2026$299,900$154.196
February 2026$395,000$184.585
January 2026$382,000$192.454
December 2025$369,000$184.584
November 2025$367,000$193.174
October 2025$365,000$199.357
September 2025$380,350$220.167
August 2025$419,394$208.736
July 2025$419,394$208.738
June 2025$419,394$208.739
May 2025$741,000$223.199
April 2025$683,000$216.749
March 2025$683,000$265.125
February 2025$488,376$192.476
January 2025$336,000$179.918
December 2024$336,000$179.919
November 2024$335,500$227.548
October 2024$1,100,000$324.776

Sources and definitions

Sale-price and property-type histories use Redfin where available. Redfin observations cover rolling three-month periods. Zillow Research supplies monthly home-value and rent indices and additional market series. Provider selection is shown in the chart details. Each metric retains its own reporting date.

Sale price per square foot describes completed sales with reported floor area; it is not a listing-price measure. Active listings count listings active during the reporting period. Home values and rents are typical-value indices, not sale-price or rent medians. ZIP map boundaries are Census ZCTAs and may differ from provider regions. Related ZIP associations do not imply containment within city boundaries.

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