Published November 1, 2026 in Market Update

Waconia has more listings, but buyers are still moving

By Sally Scrimgeour

Real estate, Waconia - 55387

More homes are coming to market in Waconia. That is real. But buyers have not stepped back.

The Real Estate Data Aggregator counted 113 homes sold in ZIP 55387 in the three months ending August 31, 2026. That is up 22.8% from the same three months in 2025. Sales rose even as the number of homes for sale climbed 40.6% to 97 active listings. More choice did not slow buyers down.

New listings jumped hard. The Real Estate Data Aggregator recorded 137 new listings in 55387, up 65.1% from a year before. Sellers came off the sidelines in a big way. That is good news for buyers who felt stuck with few options.

Nationally, Realtor.com reported 1.16 million active listings in September 2026. That is a lot of competition for sellers across the country. In Waconia, supply is up too, but at 2.6 months it still sits well below the six months that signals a balanced market.

Well-priced homes are still finding buyers

The median sale price in 55387 came in at $485,000 for the three months ending August 31, 2026, according to the Real Estate Data Aggregator. That is down 1.5% from a year before. A small dip, not a drop. Sellers who priced right still did well.

The Real Estate Data Aggregator put the average sale-to-list ratio at 99.2% in 55387. That means sellers got back nearly every dollar they asked for. That number edged up 0.1 points from a year before.

Nearly 3 in 10 homes sold above list price. The Real Estate Data Aggregator put that share at 29.2%, up 3.1 points from 2025. That is not every home, but it shows real competition on the right listings.

Buyers moved fast when they liked what they saw

The Real Estate Data Aggregator found that 41.1% of homes in 55387 went under contract within two weeks of listing. That share rose 7.3 points from a year before. Quick buyers are still out there.

Median days on market was 33 days, one day shorter than the same period in 2025, per the Real Estate Data Aggregator. Not a big shift, but it held steady even with more homes competing.

The wider picture adds some caution

Mortgage rates climbed back above 7% for the first time since January 2025, according to Realtor.com. That raises the monthly cost for buyers and can slow decisions.

Realtor.com also noted that price cuts hit 20.8% of listings nationally in September 2026, the highest share since October 2022. That is a reminder: overpriced homes are sitting longer across the country.

The Federal Housing Finance Agency reported that U.S. house prices rose 2.4% from August 2025 to August 2026. That is a slower pace than many recent years, but prices are still moving up nationally.

One street can read very differently from the whole ZIP code. A home near downtown Waconia or on a lake may see different days on market and a different price story than the 55387 numbers above.