MN

Minnesota Housing Market

2026 Market Report & Data · Data through May 2026 · Source: Redfin

$372K

Median Price

25

Days on Market

2.3

Months Supply

-1.7%

YoY Change

Seller's Market

Market Type

Buyer's Markets (14) Seller's Markets (283) Cheapest Cities Fastest Selling Rising Markets (10) Price Drops (10)

Market Dashboard

Market Summary

Buyer's Markets

14

cities with 6+ months supply

Balanced Markets

80

cities with 3-6 months supply

Seller's Markets

283

cities with <3 months supply

Top 10 Most Affordable Cities in Minnesota

Ranked by lowest median home price.

City Median Price DOM
1. Funkley $12K 81d
2. Manchester $15K 13d
3. Boy River $18K 32d
4. Garfield $22K 18d
5. Minneota $25K 306d
6. Cass Lake $34K 492d
7. Ceylon $42K 38d
8. Comfrey $44K 3d
9. Evan $46K 264d
10. Lyle $50K 4992d

🏰 Top 10 Most Expensive Cities in Minnesota

Ranked by highest median home price.

City Median Price DOM
1. Minnetonka Beach $4.55M 7d
2. Greenwood $3.00M d
3. Sunfish Lake $2.05M 202d
4. Birchwood Village $1.60M d
5. Deephaven $1.46M 15d
6. Grant $1.43M 44d
7. Wayzata $1.36M 63d
8. Medina $1.32M 36d
9. Excelsior $1.27M 34d
10. North Oaks $1.11M 41d

Top Buyer's Markets in Minnesota

14 cities have more than 6 months of inventory — buyers can negotiate.

City Months Supply Median Price DOM
1. Emily 13.0 mo $925K 8d
2. Maple Lake 12.0 mo $340K 147d
3. Afton 11.0 mo $585K 18d
4. Eyota 11.0 mo $410K d
5. Kimball 10.0 mo $350K 53d
6. Ottertail 9.0 mo $275K 28d
7. Pelican Rapids 9.0 mo $177K 13d
8. Trimont 9.0 mo $72K 11d
9. Clearwater 8.0 mo $315K 76d
10. Cohasset 8.0 mo $679K 29d

Top Seller's Markets in Minnesota

283 cities have less than 3 months of inventory — sellers have the advantage.

City Months Supply Median Price DOM
1. Lakeland 0.3 mo $375K 14d
2. Long Lake 0.3 mo $560K 32d
3. Merrifield 0.3 mo $650K 2d
4. Spring Grove 0.3 mo $188K 14d
5. Centerville 0.4 mo $408K 12d
6. Mayer 0.4 mo $375K 15d
7. Brooten 0.5 mo $137K 128d
8. Brownsville 0.5 mo $222K 28d
9. Coleraine 0.5 mo $377K 125d
10. Deer Creek 0.5 mo $176K 21d

Top 10 Fastest Selling Cities in Minnesota

Cities where homes sell fastest, ranked by lowest median days on market.

City Days on Market Median Price
1. Balaton 1d $53K
2. Jenkins 1d $460K
3. Kellogg 1d $162K
4. Lanesboro 2d $200K
5. Merrifield 2d $650K
6. Comfrey 3d $44K
7. Elizabeth 3d $245K
8. Heidelberg 3d $506K
9. St. Marys Point 3d $410K
10. Woodland 3d $730K

Top Rising Markets in Minnesota

Cities with the largest year-over-year price gains. Appreciation can signal momentum, but also affordability pressure.

City YoY Change Median Price
1. Stewartville +47.1% $387K
2. Austin +41.3% $258K
3. Pine Island +39.2% $380K
4. Arden Hills +38.4% $525K
5. Waite Park +20.0% $294K
6. Watertown +19.1% $405K
7. East Bethel +18.2% $422K
8. Hanover +17.8% $545K
9. Edina +17.6% $830K
10. Mound +17.3% $446K

Cities with Price Drops in Minnesota

Cities with year-over-year price declines. These can be buying opportunities — or signals of softening demand.

City YoY Change Median Price
1. Fairmont -39.8% $147K
2. St. Anthony -26.6% $331K
3. Orono -25.7% $650K
4. Lake Elmo -25.5% $700K
5. Montrose -24.4% $258K
6. Wyoming -23.9% $390K
7. Woodbury -21.8% $395K
8. Falcon Heights -20.5% $400K
9. Fergus Falls -19.9% $205K
10. Crosslake -19.3% $610K

All 499 Cities in Minnesota

Adams Adrian Afton Albany Albert Lea Albertville Alden Alexandria Altura Andover Annandale Anoka Apple Valley Arden Hills Atwater Austin Avon Backus Balaton Ball Club Battle Lake Baxter Bayport Becker Belgrade Belle Plaine Bellechester Bemidji Bena Bethel Big Lake Bigelow Bigfork Birchwood Village Biscay Blackduck Blaine Blomkest Blooming Prairie Bloomington Bluffton Bock Bovey Boy River Braham Brainerd Brandon Breckenridge Breezy Point Brewster Brooklyn Center Brooklyn Park Brooten Brownsdale Brownsville Brownton Buffalo Burnsville Byron Caledonia Calumet Cambridge Campbell Cannon Falls Canton Carlos Carver Cass Lake Center City Centerville Ceylon Champlin Chanhassen Chaska Chatfield Chickamaw Beach Chisago City Circle Pines Claremont Clarks Grove Clear Lake Clearwater Cleveland Clitherall Coates Cobden Cohasset Cokato Cold Spring Coleraine Cologne Columbia Heights Columbus Comfrey Conger Coon Rapids Corcoran Cottage Grove Cottonwood Credit River Crosby Crosslake Crystal Cuyuna Dakota Dalton Dayton Deephaven Deer Creek Deer River Deerwood Delano Dellwood Dennison Dent Dexter Dodge Center Dover Dresbach Dundas Dundee Dunnell Eagan East Bethel East Gull Lake Eden Prairie Edina Effie Eitzen Elba Elgin Elizabeth Elk River Elko New Market Elkton Ellendale Ellsworth Elrosa Elysian Emily Emmons Empire Erhard Essig Evan Evansville Excelsior Eyota Fairhaven Fairmont Falcon Heights Faribault Farmington Federal Dam Fergus Falls Fifty Lakes Florence Foley Forada Forest Lake Foreston Fort Ripley Fountain Foxhome Freeborn Freeport Fridley Frontenac Funkley Garfield Garrison Garvin Gem Lake Geneva Ghent Gilman Glencoe Glenville Golden Valley Goodhue Goodland Goodview Granada Grand Meadow Grand Rapids Grant Greenfield Greenwald Greenwood Hackensack Ham Lake Hamburg Hammond Hampton Hanover Hanska Harmony Harris Hartland Hastings Hayfield Hayward Heidelberg Henning High Forest Hilltop Hokah Holdingford Hollandale Homer Hopkins Houston Howard Lake Hugo Hutchinson Independence Inver Grove Heights Ironton Isanti Isle Jenkins Jordan Kandiyohi Kasota Kasson Keewatin Kelliher Kellogg Kensington Kent Kenyon Kilkenny Kimball Kinbrae La Crescent La Prairie Lake City Lake Elmo Lake Henry Lake Lillian Lake Shore Lake St. Croix Beach Lakeland Lakeland Shores Lakeville Lanesboro Lansing Lauderdale Le Center Le Roy Le Sueur Leota Lester Prairie Lewiston Lexington Lilydale Lindstrom Lino Lakes Lismore Little Canada Long Lake Longville Lonsdale Loretto Lyle Lynd Mabel Mahtomedi Manchester Manhattan Beach Mantorville Maple Grove Maple Lake Maple Plain Mapleview Maplewood Marble Marine on St. Croix Marion Marshall Martin Lake Mayer Mazeppa Medford Medicine Lake Medina Meire Grove Melrose Mendota Mendota Heights Merrifield Miesville Milaca Millerville Millville Miltona Minneapolis Minneiska Minneota Minnesota City Minnetonka Minnetonka Beach Minnetrista Montgomery Monticello Montrose Morristown Mound Mounds View Myrtle Nashua Nashwauk Nelson Nerstrand New Brighton New Germany New Hope New London New Munich New Prague New Trier New Ulm New York Mills Newport Nisswa North Branch North Oaks North St. Paul Northfield Northrop Norwood Young America Nowthen Oak Grove Oak Park Heights Oakdale Onamia Orono Oronoco Osakis Osseo Ostrander Otsego Ottertail Owatonna Parkers Prairie Paynesville Pease Pelican Rapids Pennock Pequot Lakes Perham Peterson Pickwick Pillager Pine Island Pine River Pine Springs Plainview Plato Plymouth Preston Princeton Prinsburg Prior Lake Racine Ramsey Randolph Raymond Red Wing Regal Remer Rice Richfield Richmond Richville Riverton Robbinsdale Rochester Rockford Rockville Rogers Rollingstone Ronneby Roscoe Rose Creek Rosemount Roseville Rothsay Round Lake Rush City Rushford Rushford Village Rushmore Russell Sargeant Sartell Sauk Centre Sauk Rapids Savage Scandia Searles Shafer Shakopee Sherburn Shoreview Shorewood Silver Creek Silver Lake Sleepy Eye Solway South Haven South St. Paul Spicer Spring Grove Spring Hill Spring Lake Park Spring Park Spring Valley Springfield Squaw Lake St Charles St. Anthony St. Augusta St. Bonifacius St. Cloud St. Francis St. Joseph St. Louis Park St. Martin St. Marys Point St. Michael St. Paul St. Paul Park St. Rosa St. Stephen Stacy Stanchfield Stewart Stewartville Stillwater Stockton Sunburg Sunfish Lake Taconite Taopi Taunton Taylors Falls Tenstrike Tonka Bay Tracy Trimont Trommald Truman Turtle River Twin Lakes Underwood Urbank Utica Vadnais Heights Vergas Vermillion Victoria Vineland Vining Wabasha Waconia Wahkon Waite Park Walker Waltham Wanamingo Warba Warsaw Watertown Waterville Waverly Wayzata Welcome West Concord West St. Paul Whalan Whipholt White Bear Lake Willernie Willmar Wilmont Wilton Winona Winsted Wolverton Woodbury Woodland Worthington Wykoff Wyoming Zemple Zimmerman Zumbro Falls Zumbrota

Minnesota Real Estate Market Overview

The Minnesota housing market currently shows seller's market conditions, with a median sale price of $372K and 2.3 months of inventory supply. Homes in Minnesota typically sell in 25 days.

Key Market Insights for Minnesota

Finding an Agent in Minnesota

Whether you're buying or selling in Minnesota, working with a local real estate agent who understands these market dynamics can help you achieve the best outcome. Our network of verified agents across Minnesota provides expert guidance tailored to your specific city and neighborhood.

Frequently Asked Questions About Minnesota Real Estate

Is Minnesota a buyer's or seller's market in 2026?

Minnesota is currently classified as a seller's market based on months of supply data. Low inventory gives sellers an advantage with faster sales and less price negotiation. Market conditions vary by city, so check local data for your specific area.

What is the median home price in Minnesota?

The median home price in Minnesota is approximately $372K as of May 2026. Prices range significantly across the state, with Minnetonka Beach among the most expensive areas and Funkley offering more affordable options. Work with a local real estate agent for the most current pricing in your target neighborhoods.

How long does it take to sell a house in Minnesota?

Selling timelines in Minnesota vary by city and market conditions. The fastest-selling markets include Balaton with a median of 1 days on market. Factors like pricing strategy, home condition, location, and seasonality all affect how quickly a home sells. A skilled listing agent can help price and market your home for a faster sale.

Should I buy a house in Minnesota right now?

Whether to buy in Minnesota depends on your personal finances, timeline, and target market. The competitive market means acting quickly and being prepared with financing. Consider factors like mortgage rates, your job stability, how long you plan to stay, and local price trends. Consult with a local real estate agent who can advise on specific neighborhoods.

How do I find a real estate agent in Minnesota?

Start by researching agents with proven experience in your target Minnesota market. Look for agents with strong local transaction history, positive client reviews, and expertise in your price range. Interview at least 2-3 agents before choosing. Ask about their recent sales, marketing strategy, and communication style. Our directory features verified agents across Minnesota to help you find the right match.

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Connect with a local expert who knows your market.

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