Minneapolis Housing Market

Homebuyers in the Minneapolis metro had more homes to choose from in July as listings rose sharply from a year earlier. Sales also increased, and prices continued to move higher, creating a market that remained active while giving buyers a bit more negotiating power.

Home sales in the Minneapolis metro reached 5,007 in July, up 10.1% from a year earlier. More listings helped keep buyers engaged, even as mortgage rates continued to affect affordability.

Among the 40 largest housing markets in the country, Minneapolis posted the second-fastest sales growth, trailing only San Francisco.

The strongest gains came from single-family homes. Single-family sales rose 13.3% from a year earlier, while townhome sales increased 1.5%. Condo sales edged lower.

Inventory was the biggest story in July. The number of homes for sale climbed 18.2% from a year earlier to 15,267. That increase ranked third among the nation's 40 largest housing markets, behind Nashville and Baltimore.

For buyers, that meant more options than they had a year ago. It also reduced some of the pressure that comes with a limited supply of homes. Months of supply rose to 4, still below the six-month level typically associated with a balanced housing market.

The median marketing period reached 48 days, up from a year earlier but down from June. At the same time, the sale-to-list price ratio slipped to 99.1%, meaning sellers, on average, were getting slightly less than their asking price.

Together, those measures suggest buyers had more options than a year ago, while well-priced homes still move relatively quickly.

View the latest homes for sale in Minneapolis.

The median home sale price reached $407,000 in July, up 3% from a year earlier.

That marked an acceleration from June's 2% annual growth and slightly outpaced the national increase.

Price trends varied by property type. Single-family home prices rose 2.8% from a year earlier, while townhome prices slipped 0.7% and condo prices fell 3.7%.

Even with a sharp increase in listings, prices continued to rise. That combination of higher inventory, stronger sales activity, and positive price growth suggested that Minneapolis remained relatively balanced compared with many large U.S. housing markets.

The median home sale price in Minneapolis increased by 3% compared to the same time last year, while the national median price rose by 2.6%.

Minneapolis median home prices rose by $12,000 year over year on a nominal basis in July to $407,000. Meanwhile, the national median home price increased by $10,000 to $400,000.

Minneapolis was the 26th highest-priced housing market among the top 40 largest markets last month. The Minneapolis median home price of $407,000 was 1.8% above the national median home price. Minneapolis' median home price in July compares to the market's peak of $410,000 recorded in June of 2026.

The median price of Minneapolis single-family homes rose by $12,000 over the past year to $440,000, while the median townhome price declined by 0.7%, and the median condo price fell by 3.7%.

The number of homes for sale in Minneapolis increased by 18.2% in July compared to the same time last year, while national homes for sale rose by 4.4%.

Minneapolis homes for sale rose by 2,348 year over year in July to 15,267 homes for sale. Minneapolis ranked third, on a percentage basis, for the annual change in the number of homes for sale among the top 40 U.S. markets in July.

Minneapolis homes for sale were below their pre-pandemic levels in the month of July. Minneapolis homes for sale were 18.6% below the July 2019 total of 18,760.

Minneapolis single-family homes for sale grew by 17.2% to 10,612 in July. In comparison, townhomes for sale rose by 23% to 3,082, and condos for sale increased by 15.5% to 1,573.

The number of home sales in Minneapolis increased by 10.1% in July compared to the same time last year, while national home sales rose by 2.9%.

Minneapolis home sales increased by 461 year over year on a nominal basis in July to 5,007. For context, 4,546 sales closed in Minneapolis in July 2025.

Minneapolis ranked second for the annual change in home sales out of the top 40 U.S. markets in July on a percentage basis. This year's July increase of 10.1% compares to the 1.2% year over year decrease in July 2025.

Minneapolis single-family sales increased by 13.3% in July to 3,850. In comparison, townhome sales rose by 1.5% to 872, and condo sales fell by 1.4% to 285.

For questions and commentary about this report:

Elliott Krivenko, Director of Market Analytics at CoStar and Homes.com, is available for interviews to provide expert insights on this data and the broader residential real estate market.

Elliott Krivenko

Director of Market Analytics

Homes.com

ekrivenko@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all transactions are accounted for, they provide an early indication of home price appreciation, inventory changes, and sales volume in Minneapolis during July 2026.

For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.

Definition of Sale Prices

Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Inventory

Inventory is the number of unique active listings that were for sale during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Home Sales

The total number of closed home sales on the MLS during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Days on Market

The median number of days from initial listing to closing of properties whose closing occurred during the month. This data includes detached, attached, and condominium homes. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Months of Supply (MOS)

Months of Supply (MOS) is equal to active listings divided by homes sold in a given month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

Definition of Sale to List Price Ratio

The sale-to-list price ratio is the ratio of the sale (closing) price to the original list price, whose closing occurred during the month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

 About the Homes.com Market Analytics Team

The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.

About Homes.com Analytics Data

The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.

The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.