08/27/2026
🏡 MINNESOTA REAL ESTATE MARKET UPDATE
Minnesota’s housing market is becoming more balanced—but it has not turned into a buyer’s market overnight.
Here’s what the latest July data shows:
✅ Statewide median price: $375,000, up 2.7%
✅ Twin Cities median price: $408,000, up 3.3%
✅ Statewide closed sales: Up 11.2%
✅ Available homes: Up 9.1% statewide
✅ Average market time: 48 days statewide and 40 days in the Twin Cities
What does that mean for you?
SELLERS: Home values are still rising, but buyers have more choices. Correct pricing, good presentation and realistic negotiation matter more than they did during the frenzy. Overpricing a home to “see what happens” usually results in fewer showings and a longer time on the market.
BUYERS: You have more options, more time to evaluate properties and greater negotiating power. However, desirable homes are still selling close to asking price, so strong preparation and financing remain important.
Mortgage rates have eased slightly, with the average 30-year fixed rate around 6.65% as of August 20. That is helpful, but not enough to dramatically change affordability. Negotiating the price, seller-paid closing costs or a temporary rate buydown may produce more immediate savings than waiting for a major rate drop.
A reminder about buyer representation: Written buyer agreements and the current commission rules remain in effect following a recent federal appeals court decision. Real estate compensation is negotiable, and your agreement should clearly explain the services provided, how your agent is compensated and what costs—if any—you may be responsible for.
🇺🇸 VA BUYERS: VA financing remains one of the strongest homeownership benefits available. Eligible veterans may purchase with no down payment, often without monthly mortgage insurance, and may negotiate seller assistance with allowable costs. Working with professionals who understand VA financing can make a major difference.
Whether you are buying, selling or simply trying to understand your options, Admiral Realty is here to give you straight answers—not sales-pressure smoke and mirrors.
Send Admiral Realty a message to discuss your Minnesota real estate plans.
