Farmington Real Estate Market Report: October 2024
In October 2024, the median sale price in Farmington was $398,740.
- Median Sales Price
- $398,740
- No prior comparison
- Homes for Sale
- 125
- No prior comparison
- Months Supply
- 3.6
- No prior comparison
- Balanced market
- Days on Market
- 34
- No prior comparison
- Closed Sales
- 49
- No prior comparison
- Percent of Original List Received
- 98.3%
- No prior comparison
What this means
The median sale price is currently $398,740.
Homes are averaging 34 days on market, and sellers are receiving 98.3% of their original asking price.
The area is currently a balanced market with 3.6 months of supply. There are currently 125 homes for sale.
In a balanced market, neither side has a steep advantage, making careful pricing for sellers and steady negotiation for buyers the key to success.
Common questions about the Farmington market
Is Farmington a buyer's or seller's market?
Farmington was a balanced market in October 2024, with 3.6 months of supply. Under about 3 months generally favors sellers, 3 to 6 months is considered balanced, and over 6 months favors buyers. There were 125 homes for sale.
How fast are homes selling in Farmington?
Homes that sold in October 2024 spent an average of 34 days on market. Sellers received 98.3% of their original list price on average.
Market trends in Farmington
| Month | Median sale price | Closed sales | Days on market | Months supply |
|---|---|---|---|---|
| August 2024 | $410,000 | 40 | 33 | 3.4 |
| September 2024 | $395,000 | 27 | 52 | 3.4 |
| October 2024 | $398,740 | 49 | 34 | 3.6 |
How Farmington compares with the Twin Cities region
In October 2024, the median sale price in Twin Cities (16-County Region) was $381,950.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published August 24, 2026.
Report published .
Get the Farmington market report every month
We will email you the monthly numbers and what they mean for buyers and sellers.