06/15/2026
May brought renewed momentum to Minnesota's housing market, with both buyers and sellers becoming more active as inventory continued to grow.
📈 Market Activity:
• New listings rose 4.5% statewide and 4.3% in the Twin Cities
• Pending sales increased 6.8% statewide and 10.6% in the metro
📊 Home Prices:
• Statewide median price increased 0.7% to $362,500
• Metro median price rose 1.0% to just under $400K
🏡 More Choices for Buyers:
• Inventory increased 6.0% statewide, marking 34 consecutive months of growth
• More homes are available—good news for buyers, though supply remains below balanced-market levels
"We're seeing stubborn mortgage rates, growing inventory, and generally softer demand relieve pressure on home prices," said Aarica L. Coleman, President of Minneapolis Area Realtors®. "In this rebalancing market, sellers need a more competitive pricing strategy."
Read the report: https://www.mplsrealtor.com/news/2026/may-housing-market-update-3/
Spring Market Late But Strong as Sales and Inventory Climb