Name: Sold Above List Price — ZIP 56031 All Residential, March 31, 2026
Creator: Range Ranger
Published: 2026-03-31
License: https://redfin.com/news/data-center

Question 1

What share of homes in Fairmont (56031) sold above asking price?

Accepted Answer

In ZIP 56031, 7.4% of All Residential homes sold above the listed asking price for the 90-day period ending 2026-03-31, based on Redfin closed sale data.

Question 2

What does the sold-above-list rate in 56031 mean for sellers?

Accepted Answer

A sold-above-list rate of 7.4% means that share of All Residential buyers in ZIP 56031 paid more than the listed price to close the transaction, based on closed sales in the 90-day period ending 2026-03-31. This reflects recorded buyer competition — not estimates or projections.

Question 3

How is the sold-above-list rate in 56031 calculated?

Accepted Answer

The sold-above-list rate for ZIP 56031 counts the share of closed All Residential sale transactions where the final sale price exceeded the listed asking price, over the 90-day period ending 2026-03-31. It is derived from closed transaction data recorded by Redfin — not from list price estimates or pending sales.

Question 4

Is the sold-above-list rate in 56031 higher or lower than last year?

Accepted Answer

The share of All Residential homes in ZIP 56031 that sold above asking price is down 9.7 percentage points compared to the same 90-day period one year ago, as of March 31, 2026.

Question 5

How many homes does the sold-above-list rate in 56031 represent?

Accepted Answer

The sold-above-list rate of 7.4% is derived from 27 closed All Residential transactions in ZIP 56031 for the 90-day period ending 2026-03-31. Approximately 2 of those 27 homes closed above the listed asking price. Data source: Redfin.

Question 6

How does the sold-above-list rate in 56031 relate to the median list and sale price?

Accepted Answer

In ZIP 56031, 7.4% of All Residential homes sold above asking price, while the median closed at $44,450 below asking (median list: $219,450, median sale: $175,000) for the 90-day period ending 2026-03-31. Individual outcomes vary — the sold-above-list rate reflects the count of transactions, not the average dollar premium.

Only 7.4% of homes in 56031 sold above asking price.