Chaska housing market update: January sales, listings, and mortgage rates
Chaska, MN – March 5, 2026 – January sales ran slower year over year, while active listings stayed sizable and mortgage rates dipped under 6%.
Top takeaways
- Redfin reported a January 2026 median sale price of about $345K, down 23.4% year over year, with a median 56 days on market.
- January closings totaled 16 homes sold, down from 25 a year earlier.
- Realtor.com showed 129 homes for sale, with a median list price around $600K and a median 80 days on market.
- Freddie Mac’s weekly average 30-year fixed rate was 5.98% for the week of Feb. 26.
Market snapshot
Chaska’s data points highlight a market where what’s listed and what’s closing can look very different. The wide gap between the median sale price and the median list price points to mixed inventory—potentially including higher-priced and newer homes—while the deals that are actually closing may be concentrated in a different slice of the market.
Days on market remains a practical “real-world” signal for buyers and sellers. A 56-day median for recent sales suggests many homes are not moving instantly, and the 80-day median for active listings reinforces the idea that some properties may be sitting long enough for negotiation to matter. When evaluating a home, compare its time on market to nearby listings and pay attention to whether the price has been adjusted since the initial posting.
Development watch
The city approved an ordinance updating 2026 development fees, including zoning application fees, along with a policy on unclaimed builders’ deposits. For homeowners considering additions or major remodels—and for builders planning new projects—fee schedules and deposit policies can influence overall permitting costs and timelines. When budgeting, confirm what applies to the specific scope of work before finalizing contractor bids.
What’s for sale
Recent advertised examples on Realtor.com included 3–4 bedroom single-family listings priced from the mid-$400Ks to about $610K. For shoppers, it can help to track price cuts and then compare those homes to recent closed sales before making an offer. For sellers, watching which well-presented homes go under contract—and which linger—can offer clues on pricing and prep.
Are you noticing more price reductions, or are well-kept homes still selling fast?