Published September 29, 2026 in Market Update

More homes hit the Waconia market, but supply is still tight

By Sally Scrimgeour

Real estate, Waconia - 55387

The number that matters most right now: supply did not budge. The Real Estate Data Aggregator counted 2.4 months of supply in ZIP 55387 for the three months ending July 31, 2026. That is unchanged from a year ago, even though new listings jumped 41.9%. More homes came to market, and buyers absorbed nearly all of them.

For sellers, that means pricing still matters. Nationally, Realtor.com reported that 20.4% of listings saw a price cut in August 2026. Waconia sellers who priced well did not need to cut. The Real Estate Data Aggregator found homes here sold at 99.6% of list price on average. That figure was unchanged from a year before.

For buyers, the picture is a little better than last year. The Real Estate Data Aggregator counted 91 homes for sale in ZIP 55387, up 42.2% from the same period in 2025. More choice, but still a tight market. Do not expect wide-open negotiations.

Prices moved up, slowly and steadily

The Real Estate Data Aggregator put the median sale price in ZIP 55387 at $477,500. That is up 1.8% from the same three months in 2025. It is not a big jump, but it is a gain. The Federal Housing Finance Agency reported U.S. house prices rose 2.1% year over year between the second quarter of 2025 and the second quarter of 2026. Waconia's 1.8% gain tracks close to that national pace.

Buyers are moving quickly when the price is right

The Real Estate Data Aggregator found that 39.3% of Waconia homes went under contract within two weeks of listing. That share is up 2.4 points from a year ago. Nearly 3 in 10 homes, 29.3%, sold above list price. Pending sales reached 112, up 33.3% from the same period in 2025. Buyers are active. They are just more selective than they were a year ago.

Mortgage rates are a real factor right now

Rates are not helping buyers stretch their budgets. CNBC reported the average 30-year fixed mortgage rate hit 7.45% on September 24, 2026, up 19 basis points from the day before. Realtor.com reported rates averaged 6.67% in August 2026. Rates moved up between August and late September. That affects what buyers can afford, which in turn affects what sellers can ask.

Realtor.com also reported that national median list prices fell 1.3% year over year in August 2026. Waconia did not follow that national dip. The Real Estate Data Aggregator shows local prices still edged up 1.8%. That gap tells a story about how tight supply here really is.