Minnesota Housing Market: A Stronger More Balanced Market

A Message from The Right Realtors

One of the comments we’ve heard lately is, “I understood the market was slow.” Well, if that’s the case, John and I did not get the memo! Instead, we’re meeting new buyers, helping sellers plan for what’s next and experiencing multiple offers. Are some homes taking longer to sell? Yes. But we still see a strong, active market. That said, we are not naive about what is happening around us. Interest rates, rising costs and increased insurance premiums are all front of mind. We can’t ignore those factors. We also cannot ignore that recent numbers show a strong, more balanced market. The Minnesota Association of Realtors report that so far this year, new listings are up 6.5% and pending sales are up 3.0% statewide, giving buyers more choices while keeping homes moving through the market. According to Minnesota Realtors® President Wendy Uzelac: More homes are hitting the market, so buyers have been more active overall. Prices are rising but at a more sustainable pace. Minnesota’s housing market is showing signs of balance & stability”

August marked the 7th straight month of gains in both the Twin Cities metro and statewide, helping create one of the most balanced August markets Minnesota has seen since 2017.

Even with more homes available, inventory remains relatively tight. Minnesota currently has 3.5 months of housing supply (5 to 6 months supply is considered balanced). This imbalance between supply and demand is helping support home values. Prices have not retreated as inventory has increased. Instead, price growth has moderated, creating a healthier market while home-owners continue to benefit from appreciation. Strength at the upper end of the market is also helping to support overall activity.

For buyers, more inventory means more opportunities and a little more time to make decisions. For sellers, demand remains active, albeit slow for some, and home values continue to hold strong.

From our view, this is a market that is adapting, not retreating. That is a good place to be as we head into Fall!

Kristin and John Beise

September 2026