Published October 18, 2026 in Market Update

Waconia Has More Listings, but Homes Still Move

By Sally Scrimgeour

Real estate, Waconia - 55387

Here is the one thing every Waconia homeowner should know right now. New listings in 55387 jumped 65.1% year over year, according to the Real Estate Data Aggregator. More competition means your price and prep do more of the work than they did a year ago.

These numbers cover the three months ending August 31, 2026. That is the period to keep in mind as you read.

That surge is real. But buyers did not walk away. The Real Estate Data Aggregator counted 113 homes sold in 55387 in those three months. That is up 22.8% from the same period in 2025. More listings came in, and more homes sold.

Buyers Are Still Showing Up

The Real Estate Data Aggregator found median days on market at 33 days. That is one day shorter than a year ago. Homes are not sitting longer, even with more choices on the table.

Pending sales also rose. The Real Estate Data Aggregator counted 90 pending sales, up 12.5% from the same period in 2025. Demand is real, not fading.

Nationally, Realtor.com reported that active listings topped 1.16 million homes in September 2026. Waconia's own 40.6% rise in homes for sale fits that wider pattern.

Price Dipped a Little, but Sellers Are Still Getting Close to List

The median sale price in 55387 came in at $485,000, according to the Real Estate Data Aggregator. That is down 1.5% from a year ago. A small dip, not a slide.

Sellers still received 99.2% of their list price on average, the Real Estate Data Aggregator found. That is up 0.1 points from last year. Price it right and you land very close to what you ask.

Nearly 3 in 10 homes, 29.2% to be exact, sold above list price. That share is up 3.1 points from a year ago, per the Real Estate Data Aggregator. Not every home got a bidding war, but more did than last year.

The Real Estate Data Aggregator found that 41.1% of homes went under contract within two weeks of listing. That share is up 7.3 points year over year. Well-priced homes in good shape are still finding buyers fast.

The Wider Picture Adds Some Weight

Mortgage rates are not helping buyers stretch. CNBC reported the average contract rate for a 30-year fixed mortgage at 7.50%. Fannie Mae, as reported by CNBC, forecast that rate to reach 7.4% in the fourth quarter of 2026 and 7.5% through 2027.

Realtor.com reported that rates climbed above 7% for the first time since January 2025. That squeezes what buyers can afford, which is one reason pricing carefully matters so much right now.

Realtor.com also found that price cuts hit 20.8% of listings nationally in September, the highest share since October 2022. In Waconia, sellers are still close to full price, but that national number is a signal worth watching.

What This Means for You

Supply is up, and so are sales. That is a healthy market, not a panicked one. But the gap between a well-prepared home and a poorly priced one is wider than it was a year ago.

The Federal Housing Finance Agency reported U.S. house prices rose 2.6% from July 2025 to July 2026. Waconia's small 1.5% dip in median price is mild by comparison.

One more thing: these numbers cover all of 55387. One street can read very differently from the ZIP code as a whole. Reach out and I will tell you what the data shows for your specific part of Waconia.