Minneapolis Housing Market Report March 2025•Hennepin County, Minnesota

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Housing Prices in Minneapolis, MN

How much do homes in Minneapolis, MN cost?

Housing Market Conditions

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

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Minneapolis is a Seller's Market

Difference Since March 2024

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

Insight

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

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$353,912$203/SqFt
+$13,025
+3.8%

Based on all homes sold in the last 12 months

Insight

Homes in Minneapolis have sold for 3.8% more than they did a year ago.

Summary: The median home sold price in Minneapolis was $353,912 in March 2025, up 3.8% from last year, and the median price per square foot was $203.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Minneapolis
+3.8%
Golden Valley
+1.3%
Saint Louis Park
+1.3%
Saint Anthony
-10.6%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsMar 2024Mar 2025Change YoY
1$167.7K$165K
-1.6%
2$265.2K$270.4K
+1.9%
3$340.3K$348.5K
+2.4%
4$413.8K$415.1K
0.3%
5$600.1K$623.5K
+3.9%

Summary: Minneapolis housing price by bedroom type for March 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -1.6%. The home price for 2 bedroom homes increased by +1.9%. The home price for 3 bedroom homes increased by +2.4%. The home price for 4 bedroom homes increased by 0.3%. The home price for 5 bedroom homes increased by +3.9%.

How does Minneapolis, MN compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Minneapolis, MN

Housing supply in Minneapolis, MN

How many homes are available in Minneapolis, MN?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
3,617Last MonthMar 2025
2,9282 months agoFeb 2025
+23.5 %
Change MoMFeb – Mar

Summary: The Minneapolis real estate market had 3,617 homes for sale in Mar 2025, a 23.5 % increase compared to Feb 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
838Last MonthMar 2025
6432 months agoFeb 2025
+30.3 %
Change MoMFeb – Mar

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsFeb 2025Mar 2025Change MoM
2766956
+24.8%
38961,132
+26.3%
5337409
+21.4%
1282351
+24.5%
4647769
+18.9%

Summary: Minneapolis housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 2 bedroom homes increased by +24.8%. The inventory for 3 bedroom homes increased by +26.3%. The inventory for 5 bedroom homes increased by +21.4%. The inventory for 1 bedroom homes increased by +24.5%. The inventory for 4 bedroom homes increased by +18.9%.

Asking Price vs. Sold Price

How much do homes in Minneapolis, MN cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price364 Homes

At Asking Price165 Homes

Under Asking Price309 Homes

Insight

If you're buying a home in Minneapolis, you could pay more than the asking price. 43.4% of homes here sold above asking price last month.

Summary: A total of 838 homes were sold or pending in Minneapolis in March 2025, up by 30.3% month-over-month. Of the 838 sold homes, 37% were sold under asking, 20% were sold at asking, and and 43% were sold over asking.

Days on Market for Minneapolis, MN

How long does it take to sell a home in Minneapolis, MN?

Breakdown of Home Sale Times

Under 30 Days519 Homes

30 – 90 Days199 Homes

Over 90 Days113 Homes

Insight

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

Summary: During March 2025, 838 homes were sold in Minneapolis; 62% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
41 DaysThis YearMar 2025
37 Days1 year agoMar 2024
+9.3 %
Change YoYMar 2024 – Mar 2025

Summary: Homes in Minneapolis had an average listing age of 41 days in Mar 2025, up by 9.3% compared to the previous year.

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Newest Listings in Minneapolis, MN

What homes are available in Minneapolis, MN?

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Nearby markets

Popular Cities with Homes for Sale in Minnesota

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Last updated on: 4/10/2025, 12:52:49 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.