Is Minneapolis, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Minneapolis is a seller's market

Buyer's
Market

Difference Since September 2021

Since last year, Minneapolis has remained a Seller's Market.

Key Takeaway

Minneapolis is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Minneapolis, MN cost?

Median Sold Price

$320,140

$225/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2021

+$5,661(+1.8%)

Key Takeaway

Homes in Minneapolis have sold for 1.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSSep 2021Sep 2022%
1 $194K$190K
-2.1%
2 $277K$280.3K
+1.2%
3 $324.9K$338.6K
+4.2%
4 $413.5K$406.6K
-1.7%
5+ $570K$500K
-12.3%

Median Sold Price Compared To Nearby Cities

Golden Valley
+13.2%
Saint Louis Park
+4.8%
Saint Anthony
+3.9%
Minneapolis
+1.8%

How many homes are available in Minneapolis, MN?

Number of Homes For Sale

Aug 2022Sep 2022%
1,7491,803+3.1%

Homes For Sale By Bedroom Count

# BEDSAug 2022Sep 2022%
1 246262
+6.5%
2 501515
+2.8%
3 609622
+2.1%
4 298300
+0.7%
5+ 95104
+9.5%

Number of Homes Sold

Aug 2022Sep 2022%
505407-19.4%

Asking Price vs. Sold Price

179 Homes Were Sold
Under Asking

87 Homes Were Sold
At Asking

139 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Minneapolis, you may be able to get a good deal. 44.2% of homes here sold below asking price last month.

Average Sale Time

Sep 2021Sep 2022%
23 Days28 Days+18.4%

Breakdown of Home Sale Times

259 Homes Were Sold
Under 30 Days

119 Homes Were Sold
In 30 - 90 Days

15 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Minneapolis are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Minneapolis, MN

Minneapolis, MN has 1,803 homes for sale to choose from. Between August 2022 and September 2022, Minneapolis, MN real estate market has seen increase in the number of listings by 3.1%. In September 2022 median list price was $320,140 and the average listing age was 28 days. From August 2022 through September 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties decreased by 2.1%, 2 bedrooms properties became 1.2% more expensive, the cost of 3 bedrooms properties went up by 4.2%, the cost of 4 bedrooms properties went down by 1.7%, the cost of 5 bedrooms properties went down by 12.3%. Housing inventory have changed in this real estate market: 1 bedroom homes became 6.5% more available, the quantity of 2 bedrooms homes went up by 2.8%, the quantity of 3 bedrooms homes went up by 2.1%, the quantity of 4 bedrooms homes went up by 0.7%, number of 5 bedrooms homes increased by 9.5%. In September 2022 more than 139 listings in Minneapolis, MN were sold above the asking price. During the same period more than 87 listings were sold at asking price, while more than 179 were sold below.

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