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DETROIT LAKES, MN 56501

Real Estate Market Report
Balanced Market
February 2026  ·  Source: Realtor.com

Market Analysis

Data as of February 2026. Source: Realtor.com.

The DETROIT LAKES, MN real estate market (56501) currently shows 83 active listings, with 22 pending sales. Homes are averaging 71 days on the market before going under contract.

Inventory has increased compared to last year, with 13 more homes available — giving buyers more choice.

Homes are selling faster, averaging 71 days on market compared to 125 days last year.

The median listing price has risen 0.6% year-over-year, from $449,500 to $451,975.

Whether you are buying or selling in DETROIT LAKES, MN, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 18,085  ·  Density: 37.4/mi²  ·  Median household income: $68,413

Typical home value: $275,520  ·  Homeownership: 72.5%

Market Overview

Active Listings
83
⇧ 18.6% vs 70 last year
Pending
22
27% pending ratio
Median Price
$451,975
⇧ 0.6% vs $449,500 last year
Average Price
$596,603
⇧ 19.1% vs $501,040 last year
Days on Market
71
⇩ 43.2% vs 125 days last year

Price Per Square Foot

Median $/sqft
$234
⇧ 16.4% vs $201/sqft last year
Median Home Size
1,904 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 83 this year vs 70 last year
  • Days on market: 71 now vs 125 last year

Median & Average Pricing

Year over Year
  • Median: $451,975 (+0.6% YoY)
  • Average: $596,603 (+19.1% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 33.8 miles — 172 listings ($96,502,562 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
56501Detroit Lakes, MN 565010.0 mi72$39,295,440$415,000$545,770
56578Rochert, MN 5657810.0 mi1$450,000$450,000$450,000
56544Frazee, MN 5654411.9 mi13$4,917,887$364,523$378,299
56554Lake Park, MN 5655414.2 mi8$3,489,024$499,000$436,128
56573Perham, MN 5657320.0 mi29$29,047,444$369,500$1,001,636
56528Dent, MN 5652821.2 mi7$4,231,885$575,000$604,555
56575Ponsford, MN 5657523.1 mi2$854,000$427,000$427,000
56589Waubun, MN 5658924.2 mi8$2,254,000$190,000$281,750
56585Ulen, MN 5658526.4 mi2$1,544,000$772,000$772,000
56567New York Mills, MN 5656729.4 mi13$4,694,482$344,950$361,114
56571Ottertail, MN 5657130.6 mi15$5,335,500$319,000$355,700
56584Twin Valley, MN 5658433.4 mi1$209,900$209,900$209,900
56533Elizabeth, MN 5653333.8 mi1$179,000$179,000$179,000

Frequently Asked Questions

How many homes are for sale in DETROIT LAKES, MN 56501?

As of February 2026, there are 83 active listings in DETROIT LAKES, MN (zip code 56501), compared to 70 the prior year.

What is the median home price in DETROIT LAKES, MN 56501?

The median listing price in DETROIT LAKES, MN 56501 is $451,975 as of February 2026, a 0.6% increase from $449,500 the prior year.

How long do homes stay on the market in DETROIT LAKES, MN?

Homes in DETROIT LAKES, MN 56501 spend an average of 71 days on the market before going under contract, compared to 125 days the prior year.

Is it a seller's or buyer's market in DETROIT LAKES, MN 56501?

Based on current inventory and days-on-market data as of February 2026, DETROIT LAKES, MN 56501 is currently a Balanced Market. Inventory has increased compared to last year, with 13 more homes available — giving buyers more choice. Homes are selling faster, averaging 71 days on market compared to 125 days last year.

How much can I save on real estate commission in DETROIT LAKES, MN?

With SELL123.com's maximum 3% commission, sellers in DETROIT LAKES, MN 56501 save an estimated $9,040 compared to a typical 5% commission on the median listing price of $451,975. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.