Housing Inventory Hits a 7-Year High in Minnesota | Minneapolis Market Update
About this video
Minnesota housing inventory just hit a 7-year high, but what does that actually mean? Here’s what the latest Minneapolis and Twin Cities market data shows for buyers, sellers, home prices, negotiation power, and where the market could be heading.
Key takeaways
- Minnesota had about 19,000 homes for sale in June (up 7.5% from a year earlier), the highest June inventory since 2019, according to the Minnesota Realtors figures Jason cites. It's a return toward normal, not an all-time high.
- Buyers are keeping up: statewide new listings rose 11% and pending sales 8%. In the Twin Cities metro, inventory was almost 11,000 (up 5.1%), new listings up 10.5% and pending sales up 9.7%.
- Buyers can again include inspection contingencies and ask for help with closing costs or repairs. Condos have cooled the most, with statewide condo sales down 2.7%.
- It's not a free-for-all: metro homes averaged about 42 days on market (49 statewide), and metro sellers got about 99.6% of their original list price, before any concessions.
- Homes listed from $250,000 to $350,000 are still the tightest part of the market, so well-priced starter homes can still draw multiple offers. Be pre-approved before you tour.
- Prices held: the statewide median was $375,000 (up 1.4%) and the metro median $410,000 (up 2.1%). Statewide pending sales over $1 million rose 42%.
- There were about 3.3 months of supply statewide and 2.8 in the metro. Jason argues today's balanced market is closer to 3 to 4 months than the traditional 5 to 6.
- Sellers: price right from day one, fix the small things, and market well. Two weeks with little interest is the market telling you something.
Questions this video answers
Is now a good time to buy a house in the Twin Cities?
Buyers have more choice and negotiating room than at any point since 2019, with inspections and seller concessions back on the table. Well-priced homes, especially from $250,000 to $350,000, still sell fast, so get pre-approved first.
What is months of supply?
How long it would take to sell every home on the market at the current pace. In this video, the Twin Cities metro had about 2.8 months; Jason argues 3 to 4 months is roughly balanced in today's market.
Read more: Twin Cities market report · Buy a home
Notes written by Huerkamp Home Group from this video. Figures are as stated in the video on September 11, 2026; check the current numbers in our market reports.
