Wells, MN 56097

That's the average rate borrowers locked on October 22, 2026, from Optimal Blue's index of actual rate locks. On the median-priced home here, $244,000 with 10% down, it comes to $1,498 a month in principal and interest.

The typical home here costs $536 a month more than it did a year ago.

A year ago the median list price was about $175,000 and the 30-year rate was 6.17%: $962 a month with 10% down. Now it's $244,000 at 7.25%: $1,498.

Put the other way, last year's $962 a month buys about a $157,000 home at the latest rate.

On a typical day in September, 11 homes were for sale: 5% more than in August and 22% fewer than a year ago. During the month 4 new listings came on, and on a typical day 5 homes were under contract.

Homes spent a median of 55 days on the market, 30 days longer than a year ago. Sellers cut the price on 25% of listings, up 18 points from a year ago. The median list price was $244,000, or $100 a square foot: up 36% from August and up 39% from a year ago.

Balanced market. Judged on 43 homes under contract for every 100 for sale, 55 days on the market and price cuts on 25% of listings.

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