Photo: Jon Platek · CC BY-SA 3.0138 homes sold in Fairmont in the last year, at a typical $179K
Almost every sale is a house. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Fairmont homes are listed.
Every place Fairmont homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Fairmont.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
Houses are 94% of Fairmont’s sales, at a typical $187K
138 homes sold in the year to May 2026.
typical sale · 130 sold in 12 months
- Per square foot
- $111MN $191
- Days to sell
- 37
- Sold over asking
- 24%
- Listings with a price cut
- 28%
Multi-family (2–4 units): 4 sold, typical $117K
Condos: 4 sold, typical $133K
Too few sales in 12 months for reliable figures.
About as many homes sell as usual, at 1.5 times the 2016 price
138 sales in the last year, against 182 in 2020 and a low of 118 in 2012. The typical sale went from $116K in 2016 to $179K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $200K buys in Fairmont
Check a listing against what Fairmont homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Fairmont are more common than before the pandemic, but a quarter fewer homes come up for sale
We read every month of Fairmont’s home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 138 sales.
If you’re buying in Fairmont
- Shop in April. It brings about 18 new listings a month, close to the busiest month, with fewer bidding wars (26% over asking).
- You can negotiate. 29% of listings have cut their price, against 19% before the pandemic.
- Bid near asking. Buyers paid 98.3% of the list price on average; 24% paid over.
- You’ll usually have time. Only 34% of homes go under contract within two weeks; the typical one takes 36 days.
Spring brings the homes; summer brings the bidding wars
May has the most new listings (about 19 a month), but August is the most competitive: 31% of August sales close over asking. February has the least competition (12%) but only about 10 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and calmer than Minnesota
| Fairmont now | 2017–19 | 2021 peak | MN now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 24% | 17% | 35% | 33% |
| Gone within two weeksShare of homes under contract within 14 days | 34% | 10% | 48% | 42% |
| Listings with a price cutShare of homes for sale that cut their price | 29% | 19% | 21% | 28% |
| Price paid vs. askingAverage sale price ÷ list price | 98.3% | 96.1% | 98.8% | 99.2% |
| Days to sellMedian days from listing to contract | 36 | 79 | 24 | 35 |
36 homes for sale on a typical day
That’s 2.5 times the 2022 low (14), 28% fewer than in 2017–19 and well under 2012’s 84.
1 in 3 listings has cut its price
29% in the last year, against 19% in 2017–19 and 28% across Minnesota. More sellers are pricing high and coming down.
Since 2019, houses are up 31%, condos 56%
A house typically sold for $187K in the last year (130 sales), a condo for $133K (4).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Fairmont ranks 121st of 144 busy Minnesota markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Fairmont is one of the state’s calmer markets.
Source: Redfin Data Center, city market tracker, January 2012 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Fairmont home costs about $1,102 a month
Price: Fairmont’s typical sale, last 12 months. Property tax at Fairmont’s 1.1% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Fairmont is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in May
The month with the most choice. January has the fewest, about 7.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $179K home, about $2,020 a year.
Taxes vs. neighborsSchools
The schools grade for Fairmont, from test results, graduation and how much students grow.
Schools in FairmontTypical commute
The average one-way trip to work for people who live in Fairmont.
Work & commuteCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Post your home to Fairmont, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Fairmont. People who follow the town see it, and so do people comparing Fairmont with their own town. No commission, no listing fee.
Questions about buying a home in Fairmont
What do homes sell for in Fairmont, MN?
138 homes sold in the year to May 2026 at a typical $179K, $110 a square foot.
Is Fairmont a buyer’s or seller’s market?
A seller’s market: 52 homes were for sale in May 2026 and 18 sold, about 2.9 months of supply. Buyers paid 98.3% of asking on average, and 29% of listings cut their price.
When is the best time to buy in Fairmont?
May brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Fairmont?
About 1.1% of a home’s value a year. On a $179K home that’s near $2,020.
Where can I see homes for sale in Fairmont?
Zillow, Redfin, Realtor.com and Homes.com all carry Fairmont’s MLS listings; the search links above open each one filtered to Fairmont.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).