Minnesota’s real estate market exhibits moderate price growth, increased inventory, and regional variations. Here’s a comprehensive overview:
🏠 Statewide Market Overview
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Median Sale Price: In April 2025, the statewide median sale price was $368,600, reflecting a 2.8% year-over-year increase.
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Closed Sales: There were 5,245 homes sold in April, a 1.4% decrease compared to April 2024.
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Days on Market: Homes spent a median of 27 days on the market, up by 2 days from the previous year.
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Inventory Levels: The number of homes for sale increased by 4.0% year-over-year.
🌆 Regional Highlights
Twin Cities Metro Area
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Median Sale Price: The metro area’s median price rose 3.5% to $398,900.
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Days on Market: Homes in the metro area took an average of 50 days to go under contract, slightly longer than the statewide average.
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Market Dynamics: Despite increased inventory, demand continues to outpace supply, maintaining a seller’s market.
Central Minnesota
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Median Sale Price: The median home sold price in Central Minnesota was $360,000, up 5.9% from the previous year.
Minneapolis
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Median Sale Price: In April 2025, Minneapolis home prices were down 0.29% compared to last year, selling for a median price of $359,950.
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Sales Volume: There were 440 homes sold in April, down from 453 the previous year.
📈 Market Dynamics
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Affordability Challenges: Middle-income earners face limited options, with only 21.2% of homes on the market affordable to them, a slight improvement from 20.8% in 2024. Minnesota Reformer
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Seller Behavior: Statewide, sellers accepted offers at 98.8% of their list price, indicating strong buyer competition.
🔮 Market Outlook
Experts anticipate a stable market with moderate price appreciation and increased buyer opportunities. While affordability remains a concern, especially for middle-income buyers, the market is expected to offer more options as inventory grows.