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Featured local agent — Minneapolis, MN
Sarah Mitchell
Compass Real Estate · Minneapolis, MN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Minneapolis, MN Housing Market & Real Estate
Housing market overview · Updated monthly ·
$375,000median sale price
How is the Minneapolis, MN housing market right now?
The median home sale price in Minneapolis, MN is $375,000, down 1.6% year-over-year. Homes sell in an average of 20 days with 1,117 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Minneapolis a buyer's or seller's market?
Minneapolis, MN is currently a seller's market, based on 2.3 months of supply and homes selling in about 20 days. How we determine this →
Homes sold
478
Last 12 weeks
Days on market
20
Fast-moving
Active listings
1,117
2.3 months supply
Sale-to-list
101.3%
Above asking
What does the Minneapolis housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $375,000 |
| Median list price | $375,000 |
| Year-over-year price change | -1.6% |
| Average days on market | 20 days |
| Active inventory | 1,117 listings |
| Months of supply | 2.3 months |
| Sale-to-list price ratio | 101.3% |
| Median price per sq ft | $240/sq ft |
| Homes sold (latest month) | 478 |
| New listings (latest month) | 699 |
| Listings with a price cut | 30.4% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Minneapolis by property type?
How the Minneapolis, MN market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $381,000 | $248/sq ft | 349 | 15 days |
| Condo / Co-op | $228,000 | $244/sq ft | 71 | 48 days |
| Townhouse | $401,000 | $214/sq ft | 22 | 44 days |
Source: Redfin · Updated monthly
The Minneapolis housing market is currently classified as a seller's market with a median sale price of $375,000. Prices have fallen 1.6% compared to last year, with homes spending an average of 20 days on market, indicating 2.3 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.2x provides context for how home values compare to local earning capacity.
Homes for sale in Minneapolis
There are currently 1,117 homes listed for sale in Minneapolis, Minnesota. The median listing price is $375K.
Active listings
1,117
Homes on market
Median list price
$375K
Avg. days on market
20
Days until sale
New this week
699
Newly listed
Who lives in Minneapolis?
Population
426,845
Median income
$80,269/yr
Median age
33 years
Owner-occupied
48.0%
College grads
54.5%
Avg commute
22.5 min
Source: U.S. Census Bureau ACS
What are homes worth in Minneapolis?
Zillow home value
$336,624
Zillow rent index
$1,686/mo
Price-to-rent ratio
16.6x
Price-to-income
4.2x
Source: Zillow Research
What is it like to live in Minneapolis?
Minneapolis is a community of approximately 427K residents with a median age of 33 years.The median household income is $80,269, which reflects a relatively affluent area with strong earning potential. 54.5% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 48.0%, showing a blend of owner and renter-occupied properties. The average commute time is 22.5 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Minneapolis offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Minneapolis?
50 schools tracked · 28,309 students
The largest public schools serving Minneapolis, MN by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Washburn High
Grades 9-12 · 1,555 students
Southwest High
Grades 9-12 · 1,310 students
South High
Grades 9-12 · 1,261 students
Roosevelt High
Grades 9-12 · 1,121 students
Andersen Middle
Grades 6-8 · 1,045 students
Justice Page Middle
Grades 6-8 · 939 students
YINGHUA ACADEMY
Grades K-8 · 838 students
Edison High
Grades 9-12 · 833 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Minneapolis, MN?
Want a head-to-head view? Compare Minneapolis side-by-side with any other U.S. city using our market-comparison tool.
Is Minneapolis a good real estate investment market?
For investors evaluating Minneapolis, the price-to-rent ratio of 16.6x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has softened 1.6% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Minneapolis's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Minneapolis's median home price.
Frequently asked questions
What is the average home price in Minneapolis?
The median home sale price in Minneapolis is $375,000, down 1.6% from last year.
How long do homes stay on market in Minneapolis?
Homes typically spend 20 days on market before going under contract.
What is the median income in Minneapolis?
The median household income is $80,269 per year.
Is Minneapolis a buyer's or seller's market?
With 2.3 months of supply, Minneapolis is currently a seller's market.
What is the Zillow home value estimate for Minneapolis?
The Zillow Home Value Index (ZHVI) for Minneapolis is $336,624, representing the typical home value in the area.
What is the median condo price in Minneapolis?
The median condo/co-op sale price in Minneapolis, MN is $228,000, compared to $381,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Minneapolis?
The median single-family home price in Minneapolis, MN is $381,000 (about $248 per square foot).
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