Published October 15, 2026 in Market Update

Some of the tightest under $400k competition is in part of CR Metro

By JJ Johannes

Real estate, DOTW - CR Metro Under $400k

Realtor.com reported that 20.8% of U.S. listings had price cuts in September 2026, the highest share since October 2022. That is the national picture. In ZIP 52402, the Real Estate Data Aggregator counted just 0.6 months of supply for the three months ending August 31, 2026. Homes there averaged 100.5% of list price. Those two markets are not the same place.

ZIP 52402 is the tightest spot in the metro

The Real Estate Data Aggregator counted 40 homes for sale in ZIP 52402 during the three months ending August 31, 2026. That is down 68.5% from the same months in 2025. With 208 homes sold in that same window, supply ran out fast. The median home there sold in 6 days, 3 days quicker than a year before.

The Real Estate Data Aggregator found that 43.8% of homes in ZIP 52402 sold above list price during those three months. That share is up 16 points from a year before. And 63% of homes went under contract within two weeks of listing, up 9.3 points year over year. Buyers who waited or low-balled mostly lost.

ZIP 52405 is close behind

ZIP 52405 is the second-tightest spot the Real Estate Data Aggregator tracked. It showed 0.8 months of supply for the three months ending August 31, 2026, down 0.7 months from a year before. The median days on market was just 5 days. Nearly 7 in 10 homes, 69.6%, went under contract within two weeks of listing.

One honest note on ZIP 52405: the median sale price dipped 6.7% from a year before, to $205,750, according to the Real Estate Data Aggregator. Speed and price do not always move together. Sellers there still need to price right. But the pace of demand stayed strong.

How the other ZIP codes compare

Not every ZIP in this market moves this fast. The Real Estate Data Aggregator showed ZIP 52233 with a median of 70 days on market for the same period, and ZIP 52314 at 59 days. ZIP 52328 had 3.9 months of supply. Those are different markets with different math.

The national backdrop is different

Nationally, the picture looks softer. Realtor.com reported in September 2026 that mortgage rates were over 7%, up more than a full percentage point since late February. The Federal Housing Finance Agency reported U.S. house prices rose just 2.6% from July 2025 to July 2026, and just 0.3% from June to July 2026. That slower national pace makes the tightness in ZIP 52402 stand out more.

Freddie Mac put the average 30-year fixed rate at 7.40% as of October 8, 2026. That adds real cost for buyers everywhere. In ZIP 52402, buyers are still competing hard anyway. That tells you something about how little supply there is.

What this means if you own in ZIP 52402 or 52405

If you own there, you have real leverage right now. The Real Estate Data Aggregator counted 43.8% of homes in ZIP 52402 selling above list price in the three months ending August 31, 2026. That is not a reason to overprice. It is a reason to price sharp and let competition do the work.

What this means if you want to buy there

Options are thin. The Real Estate Data Aggregator counted only 40 homes for sale in ZIP 52402 across a full three months. New listings came in at 202, down 18.9% from a year before. We need to be ready before the right home shows up, not after.