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
14
cities with 6+ months supply
80
cities with 3-6 months supply
283
cities with <3 months supply
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 |
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 |
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 |
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 |
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 |
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 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 |
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.
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.
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.
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.
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.
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.
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.
Connect with a local expert who knows your market.
Browse Minnesota Agents