RealTrends Market Report

Minneapolis, MN

Single-Family Homes

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Minneapolis, MN

Sun Jul 14 2024
This week the median list price for Minneapolis, MN is $420,000 with the market action index hovering around 56. This is less than last month's market action index of 57. Inventory has increased to 667. Click here to stay informed with the Minneapolis market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Minneapolis, MN

Sun Jul 14 2024
This week the median list price for Minneapolis, MN is $420,000 with the market action index hovering around 56. This is less than last month's market action index of 57. Inventory has increased to 667. Click here to stay informed with the Minneapolis market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Minneapolis market.
Median List Price $420,000
Median Price of New Listings $379,900
Per Square Foot $227
Average Days on Market 64
Median Days on Market 28
Price Decreased 44%
Price Increased 2%
Relisted 14%
Inventory 667
Median Rent
Market Action 56
Strong Seller's Market

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$1,225,000 3,737 0.25 - 0.5 acre 4 3.5 68 15 20 63
$499,900 2,140 6,500 - 8,000 sqft 4 2 74 26 25 28
$365,000 1,786 6,500 - 8,000 sqft 3 2 73 28 34 14
$275,900 1,390 4,500 - 6,500 sqft 3 2 96 30 47 21