The Valley Ledger, your weekly read on the Stillwater market
Stillwater, MN Housing Market Update for September 27, 2026: Fresh Inventory at Every Price Point, and Still a Seller's Market
The short answer
As of September 27, 2026, the Stillwater, Minnesota (55082) single-family market is still a seller's market, though a softer one than this spring. This week brought 14 new listings, 4 coming-soon listings, and 7 homes going under contract. The median list price is $802,450, the Market Action Index rose from 42 to 44, and inventory dropped to 58 homes. Prices are easing, bidding wars are rarer, and sellers are accepting contingent offers, but well-priced homes are still selling quickly.
This week on the ground in Stillwater
The best news this week is that fresh inventory arrived at every price point. For buyers who spent the summer waiting for the right home in Stillwater, that means real choice again, from first homes near downtown to acreage properties on the edges of the St. Croix Valley.
We are also seeing the market soften in ways you can feel in a negotiation. There are fewer bidding wars. Sellers are accepting contingent offers that they might have passed on a year ago. And yet homes are still selling: 7 went under contract in the past week alone. Even with pricing softening, Stillwater remains a seller's market, especially for good homes at great list prices.
Stillwater real estate by the numbers
| Measure | This week | What it tells us |
|---|---|---|
| Median list price | $802,450 | Up slightly this week, but the recent trend is gently downward. |
| Median price of new listings | $714,900 | New sellers are pricing about $87,550 (10.9%) below the overall median. |
| Median price per square foot | $255 | Value per foot has eased alongside price. |
| Median days on market | 49 | Half of today's listings came on within the last seven weeks. |
| Average days on market | 79 | A few long-sitting listings pull the average above the median. |
| Listings with a price decrease | 38% | More than a third of sellers have already adjusted. |
| Listings with a price increase | 0% | No one is testing the market upward. |
| Relisted | 17% | Roughly one in six listings is a second attempt. |
| Inventory | 58 | Down from recent weeks. |
| Median rent | $2,400 | A useful benchmark for buyers weighing renting versus owning. |
The Market Action Index turned up for the first time in months
The Market Action Index compares the pace of sales to the supply of homes for sale. Readings above 30 favor sellers; readings below 30 favor buyers. After a long slide from the high 50s this spring, Stillwater's index ticked up from 42 last month to 44 this week, which Altos Research classifies as a slight seller's advantage.
Market Action Index for single-family homes, Stillwater, MN 55082. Source: Altos Research, September 27, 2026.
One uptick is not a trend, but it is the signal worth watching. The index usually moves before prices do. If it keeps climbing through October while inventory stays tight, the price softening we have seen since summer is likely to level off. For now, the market sits at a balance point: sales are keeping pace with supply, and downward pressure on price should stay light.
The homes that sell are the ones priced for the market we have this week, not the market we had in April.
Stillwater home prices by segment
Stillwater is really four markets at once. Altos Research splits the 55082 zip code into quartiles by price, and this week they are moving at very different speeds.
| Median price | Sq. ft. | Lot size | Beds / baths | New | Absorbed | Median DOM |
|---|---|---|---|---|---|---|
| $1,995,000 | 5,915 | 5 to 10 acres | 5 / 4.5 | 0 | 0 | 63 |
| $1,037,500 | 4,079 | 2.5 to 5 acres | 4 / 3 | 2 | 1 | 91 |
| $635,000 | 2,682 | 1 to 2.5 acres | 4 / 2.3 | 3 | 5 | 21 |
| $392,000 | 1,663 | 0.25 to 0.5 acre | 3 / 2 | 2 | 3 | 56 |
The $600,000s are the hottest ticket in Stillwater
The lower-middle tier, with a median of $635,000 and typically four bedrooms on one to two and a half acres, is selling in a median of just 21 days. Five homes were absorbed against three new listings. Buyers in this range should expect competition and come ready with strong financing.
The $1 million tier is where pricing discipline matters most
Homes around $1,037,500 are taking a median of 91 days, the slowest of any segment. This is where a thoughtful list price and exceptional marketing separate the homes that sell from the ones that relist.
The top of the market paused this week
At the $1,995,000 median, with five to ten acres and close to 6,000 square feet, there were no new listings and no sales this week. Luxury buyers in the St. Croix Valley move on their own calendar, and many of the best estates change hands quietly through private introductions rather than public listings.
What this means if you're selling a home in Stillwater
You can still sell well this fall, but the margin for error is thinner. With 38% of listings already reduced and zero price increases, buyers have comparison shopping on their side. Price to today's data from day one, present the home at its best, and expect a real negotiation. Contingent offers are back on the table, and a strong contingent offer with a clean timeline can be worth more than waiting for a perfect one.
What this means if you're buying a home in Stillwater
This is the most choice buyers have had in a while, with fresh listings in every price range and fewer bidding wars. Your leverage is greatest on homes that have been sitting 60 days or more, or that have already taken a price cut. But do not mistake softer for slow: the best-priced homes in the $600,000s are still going in about three weeks.
The Rivertown Art Fair in Lowell Park
This week, downtown Stillwater turns into an open-air gallery as the Rivertown Art Fair fills Lowell Park along the St. Croix River. Plan to stroll the riverfront on [VA-CONFIRM: dates], browse work from regional artists, and make a day of it with lunch on Main Street. Details are on the official event page.
Events like this are a big part of why buyers fall for Stillwater. If you've ever wondered what it would be like to walk to the riverfront from home, the historic North Hill and South Hill neighborhoods put Lowell Park a few blocks from your front door. Stop and say hello if you see me there.
Fall photos: your spring listing starts now
If you are thinking about selling next spring, the most important marketing decision may be happening in the next few weeks. St. Croix Valley fall color doesn't last long, and a home photographed with the maples and oaks at peak simply looks different from one shot in a gray April.
Through my Luxury Plus Listing Program, I schedule seasonal exterior photography now, while the color is at its best, so your listing launches in spring with images that capture the property through every season. Fall slots fill quickly and depend on the weather, so if spring is on your calendar, let's get your photo date booked this week.
Stillwater, MN housing market FAQ
Is Stillwater, MN a buyer's or seller's market in fall 2026?
As of September 27, 2026, Stillwater, Minnesota (zip code 55082) is a seller's market for single-family homes, with a Market Action Index of 44, which Altos Research classifies as a slight seller's advantage. Prices have softened since spring and bidding wars are less common, but well-priced homes continue to sell, with 7 Stillwater homes going under contract in the week ending September 27, 2026.
What is the median home price in Stillwater, MN right now?
The median list price for single-family homes in Stillwater, MN 55082 was $802,450 as of September 27, 2026. Newly listed Stillwater homes had a lower median of $714,900, and the median price per square foot was $255.
How long does it take to sell a house in Stillwater, MN?
As of September 27, 2026, Stillwater, MN 55082 single-family homes had a median of 49 days on market and an average of 79 days. Speed varies by price: homes around $635,000 sold in a median of 21 days, while homes around $1 million took a median of 91 days.
Are home prices dropping in Stillwater, MN?
Stillwater home prices have been softening gradually in 2026. As of September 27, 2026, 38% of Stillwater, MN 55082 single-family listings had taken a price reduction and none had raised their price. The Market Action Index rose from 42 to 44 over the past month, which suggests the downward pressure on Stillwater prices should stay light.
When should I take listing photos to sell my Stillwater home in spring?
For a spring sale in Stillwater or anywhere in Minnesota's St. Croix Valley, book exterior photography in early fall, while autumn color is at its peak, typically late September through mid-October. Richard McDonough's Luxury Plus Listing Program schedules this seasonal photography in advance for spring sellers.
Where is the Rivertown Art Fair in Stillwater, MN?
The Rivertown Art Fair is held in Lowell Park on the St. Croix River in downtown Stillwater, Minnesota, within walking distance of Main Street and the historic North Hill and South Hill neighborhoods.
Richard McDonough
Senior Global Real Estate Advisor, Lakes Sotheby's International Realty
Fourth-generation Stillwater resident with 33+ years serving Stillwater, Bayport, Oak Park Heights, Marine on St. Croix, Lake Elmo, and Afton. Licensed in Minnesota and Wisconsin.
