Excelsior, MN housing market
The typical Excelsior home is worth about $813,000, about the same as a year ago, 132% above the Minnesota typical home. Homes typically sell in 34 days, below asking.
Home values, sales, trends and how Excelsior compares with the towns next door — updated as new data is published.
Excelsior at a glance
A strong seller's market
Homes are selling faster than new ones are listed: less than two months of supply. Well-priced homes can draw several offers.
Typical home value, 2016–2026
Show as a table
| January | Excelsior | Minnesota |
|---|---|---|
| 2017 | $524,000 | $217,000 |
| 2018 | $549,000 | $232,000 |
| 2019 | $612,000 | $246,000 |
| 2020 | $606,000 | $259,000 |
| 2021 | $667,000 | $282,000 |
| 2022 | $750,000 | $313,000 |
| 2023 | $791,000 | $325,000 |
| 2024 | $780,000 | $331,000 |
| 2025 | $826,000 | $341,000 |
| 2026 | $822,000 | $349,000 |
| August 2026 | $813,000 | $351,000 |
1 new home permitted in 2025
Builders were permitted 1 new home in Excelsior in 2025. That's 0.4 per 1,000 residents, slower than across Minnesota (3.8). Over the past 10 years, Excelsior has permitted 90 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Excelsior gained 167 residents while 64 new homes were permitted: about 2.6 new residents per new home. Building and growth moved roughly in step. Across Minnesota: 2.2 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 2 | 2 | 0 | $1.4 million |
| 2025 | 1 | 1 | 0 | $750,000 |
| 2024 | 9 | 9 | 0 | $5.6 million |
| 2023 | 9 | 9 | 0 | $5.8 million |
| 2022 | 11 | 11 | 0 | $6 million |
| 2021 | 12 | 12 | 0 | $6.5 million |
| 2020 | 11 | 11 | 0 | $6 million |
| 2019 | 10 | 10 | 0 | $5.4 million |
| 2018 | 10 | 10 | 0 | $5.4 million |
| 2017 | 12 | 12 | 0 | $6.6 million |
| 2016 | 5 | 5 | 0 | $3.2 million |
| 2015 | 4 | 4 | 0 | $2.8 million |
| 2014 | 13 | 13 | 0 | $5.3 million |
| 2013 | 3 | 3 | 0 | $1.3 million |
| 2012 | 6 | 6 | 0 | $3.2 million |
| 2011 | 1 | 1 | 0 | $800,000 |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 0 | 0 | 0 | — |
| 2008 | 0 | 0 | 0 | — |
| 2007 | 1 | 1 | 0 | $525,000 |
| 2006 | 10 | 10 | 0 | $2.5 million |
| 2005 | 0 | 0 | 0 | — |
| 2004 | 1 | 1 | 0 | $1 million |
| 2003 | 20 | 2 | 18 | $5.8 million |
| 2002 | 3 | 3 | 0 | $651,000 |
| 2001 | 1 | 1 | 0 | $183,000 |
| 2000 | 0 | 0 | 0 | — |
How Excelsior ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Excelsior and its neighbors
7.9 years of income
The typical Excelsior home costs about 7.9 years of the town's median household income, more than across Minnesota (3.9 years).
How Excelsior ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,520
HUD's Fair Market Rent for a two-bedroom in Excelsior is $1,520 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Excelsior pay a median of $1,143, so moving in tends to cost more than staying put. A two-bedroom takes about 18% of the town's median household income.
Studio $1,100 · 4 bedrooms $2,270
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (55331; Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Recent listings in Excelsior
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.