Excelsior, MN 55331

That's the average rate borrowers locked on October 21, 2026, from Optimal Blue's index of actual rate locks. On the median-priced home here, $1,445,000 with 10% down, it comes to $8,916 a month in principal and interest.

The typical home here costs $760 a month more than it did a year ago.

A year ago the median list price was about $1,486,000 and the 30-year rate was 6.16%: $8,156 a month with 10% down. Now it's $1,445,000 at 7.30%: $8,916.

Put the other way, last year's $8,156 a month buys about a $1,322,000 home at the latest rate.

On a typical day in September, 105 homes were for sale: 1.4% fewer than in August and 21% more than a year ago. During the month 42 new listings came on, and on a typical day 51 homes were under contract.

Homes spent a median of 41 days on the market, 18 days shorter than a year ago. Sellers cut the price on 10% of listings, as a year ago. The median list price was $1,445,000, or $396 a square foot: down 3.5% from August and down 2.8% from a year ago.

Seller's market. Judged on 48 homes under contract for every 100 for sale, 41 days on the market and price cuts on 10% of listings.

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