Twin Cities Real Estate Market Report 2026
What Happened in the Twin Cities Market — June 2026
June 2026 brought summer energy to the Twin Cities housing market — and unlike the sluggish spring that preceded it, this month showed up with real momentum. Closed sales bounced back meaningfully across the metro:
Anoka County led the charge with a 2.7% increase in closings
Ramsey County rose 1.0%
Washington County edged up 0.8%
Hennepin County’s slight -1.4% dip was modest relative to how soft the early spring had been.
Nationally, Zillow reported —June home sales came in 5.9% higher than a year prior and 9.2% higher than May one of the stronger monthly rebounds of 2026 — with the typical monthly mortgage payment falling 2.5% below year-ago levels, giving buyers meaningfully more purchasing power heading into summer.
Home values continued rising across all four counties:
Anoka County averaged $410,845 (+1.5%)
Ramsey County at $388,988 (+0.5%)
Hennepin County leading the metro at $529,919 (+2.9%),
Washington County holding at $495,657 (+0.3%).
The average 30-year conforming mortgage rate in June clocked in at 6.47% according to Edina Realty’s market insights — elevated, but stable, and buyers have clearly adjusted to operating in this rate environment.
One notable context for the month: the Federal Reserve held rates steady at its June meeting, citing ongoing inflation pressures tied to the Iranian conflict and rising energy costs — putting any near-term rate relief on pause for now.
Ramsey County jumped 16.4% in available homes and Hennepin rose 5.7%, while Anoka added 5.6% — all positive for buyer options.
Washington County remained the outlier, with homes for sale essentially flat (-0.9%) and months supply still falling (-4.0%), making it the tightest market in the four-county metro.
Days on market ticked up in Anoka (+10.3%) and Ramsey (+7.3%), while Washington County held perfectly steady at 48 days year-over-year — a sign of just how tight and efficient that market continues to be.
Nationally, the median list price came in 2.5% below year-ago levels — the largest annual decline in asking prices since 2017 — as sellers across the country adjusted expectations, but locally the Twin Cities defied that softening trend with positive price growth across every single county.
What This Means for You — Buyers & Sellers
June 2026 is the kind of market that deserves a closer look before you assume anything — because the story really varies depending on where you’re shopping and what price range you’re in, and the details matter a lot.
For sellers, the headline is still encouraging. Homes across all four counties are closing between 98.5% and 99.0% of original list price — that’s a remarkably tight range, and it means well-prepared, well-priced homes are not losing ground at the negotiating table.
In Minneapolis specifically, 49% of homes sold above asking price in June, with the average home closing at 101% of list and going pending in just 20 days — and hot homes selling for 5% above list in as little as 9 days.
That kind of data doesn’t describe a struggling market — it describes a competitive one.
Edina Realty’s June market insights put it simply: “a seller’s well-priced property and a motivated buyer can strike a mutually beneficial deal this summer with the help of a local REALTOR®.”
For buyers, the good news is that inventory is genuinely growing — and with it, your options.
Ramsey County now has 16.4% more homes to browse than this time last year, and Hennepin is up 5.7%.
The metro median is sitting around $387,500, with homes averaging about 39 days on the market — long enough to shop thoughtfully, but not so long that you need to worry about a stale market.
Zillow’s June report described this moment as “pointedly more upbeat” than May, with the housing recovery gaining traction as costs fell below year-ago levels and sales responded positively.
If you’ve been waiting for the “right time,” the truth is that June 2026 gave both sides of the transaction more room to breathe than either has had in years — and that’s exactly the kind of market where the right strategy wins
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What Happened in the Twin Cities Market — May 2026
May 2026 was the month the Twin Cities spring market finally showed up — and showed up strong.
After a quieter-than-expected April, buyers and sellers both leaned in, and the numbers tell a genuinely encouraging story.
Across the four-county metro, home prices continued their steady upward march:
Anoka County averaged $410,845 (+2.3%)
Ramsey County came in at $388,701 (+1.5%)
Hennepin County led at $528,882 (+3.1%)
Washington County posted $496,016 (+0.6%).
Metro-wide, the median sales price climbed 1.0% to $399,000 — and just as importantly, new listings surged 4.3% to 7,479, pending sales jumped 10.6% to 5,254, and inventory rose 4.0% to 10,600 units — all signs of a market waking back up after a slow start to the year.
Multiple offers hit their highest level since 2022, which is a headline worth pausing on — because it means well-priced, well-prepared homes were sparking real competition again.
Statewide, Redfin reported 6,219 homes sold in May — up 6.7% year-over-year — with 31.2% of homes selling above list price and a sale-to-list ratio of 99.1%, confirming that sellers are still holding strong negotiating ground.
Supply remains far below the 5–6 months needed for a truly balanced market, with the $250K–$350K range tightest at just 1.9 months and the $350K–$500K range close behind at 2.3 months.
Ramsey County continued to be the county to watch for buyers, with homes for sale up 17.3% and months supply up 21.1% — the biggest inventory gains in the metro.
Washington County, meanwhile, kept its grip as the tightest market, with inventory down 1.1% and months supply falling 4.0%, while homes there are actually selling faster than last year.
Mortgage rates in May hovered around 6.1%–6.2% for a 30-year fixed — meaningfully lower than the 7%+ buyers were navigating just a year or two ago — and the 15-year fixed averaged a more manageable 5.6%.
From multiple offers in Southwest Minneapolis to renewed condo activity in the North Loop and Mill District, May confirmed that buyers are still highly motivated when the right property hits the market.
What This Means for You — Buyers & Sellers
Here’s the big picture takeaway for May 2026: the market came alive, and that’s good news no matter which side of the transaction you’re on — you just need to know how to play it.
For sellers, May delivered a meaningful confidence boost. Multiple offers are back at their highest level since 2022, and supply in the bread-and-butter price ranges — $250K to $500K — remains incredibly tight, giving sellers in those brackets real leverage.
Homes across all four counties are closing between 98.5% and 99.1% of asking price, which means a well-positioned home isn’t leaving money on the table.
Competitive pricing in key segments and strong buyer demand defined the spring market, with buyers still highly motivated when the right property hits — especially in desirable neighborhoods and updated homes.
The message for sellers is simple: prep matters, pricing matters, and right now the market is rewarding both.
For buyers, May was a reminder that hesitation has a cost.
Pending sales were up 10.6% and inventory rose 4.0% — both encouraging signs that more options are coming, and that buyers are actively engaging rather than sitting on the fence.
With 8.8% more homes for sale statewide than a year ago and price drops occurring on about 19.7% of listings, there is more negotiating room in the market than there has been in years — particularly at higher price points and in the condo segment, where supply is roughly double that of single-family homes.
Mortgage rates and broader economic uncertainty are still giving some buyers pause, but those who are coming prepared and moving decisively are finding that they can still negotiate, request inspections, and take their time in ways that simply weren’t possible two or three years ago.
Realtor.com’s forecast calls for home prices to continue rising modestly in 2026 before potentially softening in the second half of the year — which means if you’re thinking about buying, waiting for a dramatic price drop may not be the strategy it sounds like.
The Twin Cities in May 2026 is a market that rewards action, preparation, and the right guidance. That’s where we come in.
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What Happened in the Twin Cities Market — April 2026
April 2026 was a month of real plot twists for the Twin Cities housing market — more homes, more listings, more buyer activity, but a headline price number that turned some heads.
Across the four-county metro, average sale prices held up well at the county level:
Anoka County averaged $411,525 (+2.3%)
Ramsey County came in at $390,127 (+1.5%)
Hennepin County posted $526,009 (+3.1%)
Washington County checked in at $496,887 (+0.6%).
Yet despite those county-level price gains, the metro-wide median sales price told a different story — the Twin Cities median dropped 2.0% to $392,000, with days on market rising 14.0% to 57 days and months supply climbing 8.3% to 2.6 months.
Minneapolis Area Realtors noted it was the softest the market had been in 14 years — a level not seen since 2012, right after the economic downturn. That sounds alarming, but context matters: the median price decline was driven by only a modest 0.2% dip in the percent of list price received, and homes at both ends of the price spectrum — under $120K and over $1M — now have more than six months of supply for the first time in a long time, while starter homes in the $250K–$350K range remain tightest at just 1.9 months.
On the activity side, the news was genuinely encouraging: new listings in the Twin Cities rose nearly 9% year-over-year and pending sales jumped 6.9% in the metro, signaling that buyers and sellers were both showing up.
Townhomes were the standout performer, with sales rising 7.2% as buyers gravitated toward more affordable suburban options, while single-family sales declined 5.4%.
Ramsey County was especially notable — homes for sale jumped 17.3% and months supply surged 21.1% year-over-year, giving buyers there significantly more choices than just a year ago.
Washington County continued to buck the trend in the opposite direction, with inventory down 1.1% and months supply down 4.0%, keeping competition tighter in that part of the metro.
The national backdrop was equally complex: Realtor.com reported active listings rose 4.6% nationally to over one million homes — the strongest spring for new listings since 2022 — while sellers were entering the market with more realistic price expectations, contributing to median list prices falling for the sixth straight month.
Zillow noted that rising mortgage rates in April held homebuyers back nationally, with annual home values declining in nearly half of major U.S. metros — and the Twin Cities was part of that broader story.
What This Means for You — Buyers & Sellers
Here’s what we want you to know before you read that headline and panic: this is a market in transition, not a market in trouble — and honestly, that transition is creating real opportunity on both sides of the table.
For buyers, April 2026 may have quietly been one of the best months to enter the Twin Cities market in years.
More homes to choose from, sellers coming in with realistic pricing, and homes sitting a bit longer — that combination means less pressure, less competition, and more room to negotiate.
Realtor.com’s senior economist noted that “sellers have internalized the generally more buyer-friendly market conditions and are adjusting price expectations before listing rather than after — a meaningful behavioral shift”.
Ramsey County in particular has seen a dramatic loosening, with over 17% more homes on the market than last April — if you’ve been waiting for more options in St. Paul and the surrounding area, your moment has arrived.
“More listings and more sales are encouraging signals heading into the heart of the spring market,” said Wendy Uzelac, president of Minnesota Realtors, “but monthly payments are still the biggest hurdle for most households” — a good reminder that rate shopping and loan prep still matter enormously.
For sellers, the picture requires a bit more strategy but is far from dire.
Average sale prices across all four counties are still up year-over-year, and homes are consistently closing between 98.5% and 99.1% of original list price — that’s strong.
Real estate professionals point to clear bright spots: new listings and signed purchase agreements were both up statewide, meaning motivated buyers are still out there.
The homes that win are the ones priced precisely and presented beautifully — overpriced listings are the ones sitting 57+ days.
NAR’s Chief Economist noted that nationally, “mortgage rates are lower from a year ago, and average income growth is outpacing home price gains” — an affordability improvement that’s quietly making homeownership more accessible.
The Twin Cities is rebalancing, not retreating — and with the right guidance, both buyers and sellers can absolutely win in this market.
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What Happened in the Twin Cities Market — March 2026
March 2026 brought the first real breath of spring to the Twin Cities housing market — and with it, a story of steady prices, cautiously growing inventory, and buyers and sellers both starting to find their footing.
Across the four-county metro, home values continued their upward trend year-over-year:
Anoka County averaged $408,861 (+1.0%)
Ramsey County came in at $393,144 (+3.8%)
Hennepin County led at $524,511 (+3.8%)
Washington County posted $499,647 (+1.4%).
The metro-wide median sales price held steady at around $380,000 — essentially flat compared to last March, which on the surface sounds like a pause, but is actually a sign of a market that’s normalizing rather than deflating.
On a rolling 12-month basis, the median sales price was up 2.1% to $390,000, with single-family detached homes leading the way at $429,000 — up 2.9%.
The inventory picture was one of the most encouraging shifts of the month: inventory levels rose 3.3% across the metro, with townhomes seeing the biggest gain at 4.9%, and months supply sitting at 2.0 for single-family homes, 2.5 for townhomes, and 4.8 for condos.
Ramsey County stood out, with homes for sale jumping 13.8% and months supply climbing 15.8% — the biggest gains of the four counties.
Statewide, Redfin reported 18,944 homes for sale in Minnesota in March — up 7.2% year-over-year — with newly listed homes up 2.9%.
Closed sales were mixed by county — Washington County (+1.7%) and Hennepin County (+0.3%) posted modest gains, while Ramsey County (-2.2%) and Anoka County (flat at 0.0%) held steady.
Metro-wide, closed sales were down about 2.6% and pending sales dipped 2.9% — but the percent of list price received remained remarkably consistent at 98.5%, the same tight range it’s held for four consecutive years.
Days on market ticked up slightly across the board — ranging from 41 days in Anoka to 48 in Washington County — while mortgage rates during March averaged in the 6.00%–6.38% range, down nearly half a percentage point from the 6.65%–6.67% buyers were facing at the same time last year.
What This Means for You — Buyers & Sellers
Here’s the good news — whether you’re buying, selling, or just keeping an eye on things:
March 2026 is sending some genuinely encouraging signals, and the spring market is shaping up to be more accessible than it’s been in a couple of years.
For sellers, values are holding strong. Homes across all four counties are still closing well above 98% of original list price — meaning a well-priced, well-presented home isn’t leaving money on the table.
The market is not declining — it’s normalizing, and sellers who position their homes correctly are still achieving strong values.
The slight uptick in days on market is simply buyers taking a breath rather than a bidding war, which means sellers need to be smart about pricing and presentation more than ever — but the reward is still there.
Nationally, the RE/MAX March 2026 housing report noted that the next phase of the market is being defined less by speed and more by precision — and that’s exactly what we’re seeing here.
For buyers, this is one of the better spring entry points in recent memory.
Freddie Mac noted that for the first time in 3.5 years, the 30-year fixed rate briefly dipped below 6% in late February, and that the improving availability of homes for sale is “meaningful and will drive more potential buyers into the market for spring homebuying season”.
Even as rates nudged back up slightly through March, Freddie Mac’s chief economist confirmed that “buyers are responding to rates in this range, with existing-home sales increasing” — and purchase applications were up week over week.
Ramsey County, with its 13.8% jump in available homes, is especially worth watching for buyers who want more options and less competition.
The $350,001–$500,000 price range continued to move the fastest at 41 days — a sign that the sweet spot of the Twin Cities market is still very active.
Bottom line: inventory is finally creeping up, rates are meaningfully lower than last year, and prices are holding steady rather than running away.
That’s the kind of market where buyers can breathe and sellers can still win — you just need the right strategy and the right guide.
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What Happened in the Twin Cities Market — January 2026
January 2026 showed a typical seasonal slowdown — but not a weak market. Based on your stats, closed sales dipped slightly in Anoka (-2.6%) and Ramsey (-1.9%) counties, while Hennepin (+0.4%) and Washington (+2.5%) actually held steady or increased. That tells us something important: even in the middle of winter, buyers didn’t disappear — they just became more selective. Inventory rose across most counties, especially in Ramsey (+11.3%), giving buyers a few more options, but overall supply still stayed tight at about 2.1–2.4 months, which is far below a balanced market.
Prices continued to hold strong — and in many cases, grow. Across the metro, average sale prices increased month-over-month and year-over-year, which aligns with Zillow data showing Twin Cities home values still trending upward (about +1–1.5% annually) . Redfin data also shows that while some neighborhoods saw mixed price changes, homes are still selling in roughly 40–50 days, which is fast for winter and signals continued demand . At the same time, Minnesota Realtor data confirms that both buyer and seller activity slowed in January, which is exactly what we expect seasonally — not a sign of trouble, just a reset after the holidays .
Stepping back, this matches the bigger picture: the Twin Cities continues to behave like a steady, “quietly strong” market — not booming, not crashing, just moving forward with stable demand and limited supply.
What This Means for Consumers (and How It Compares to Last Year)
Here’s the simple way to think about it:
This market looks a lot like last year — just slightly more balanced.
Compared to early 2025, buyers in January 2026 have:
A little more inventory to choose from
Slightly less competition
A bit more breathing room to make decisions
But — and this is important — prices have not dropped in any meaningful way. In fact, most data shows prices are still up year-over-year across the Twin Cities, even if growth is slower and more stable than in past years.
For buyers:
This is actually one of the more strategic windows of the year. You may not get a huge discount on price, but you can gain advantages in negotiation — things like inspection flexibility, closing timelines, or seller contributions. With fewer competing offers than spring, this is where thoughtful buyers tend to win.
For sellers:
The market is still working in your favor — just with a bit more nuance. Homes are still selling close to list price (98–99%), but buyers are more selective. The homes that shine right now are the ones that are priced correctly and presented well. It’s less about “testing the market” and more about “meeting the market.”
The big picture (and the fun part to remember):
The Twin Cities isn’t a rollercoaster market — it’s more like a steady climb. Even with higher rates and national headlines, locally we’re still seeing:
Strong underlying demand
Limited inventory
Gradual, sustainable price growth
So whether someone is buying or selling, success in 2026 isn’t about guessing what the market will do next — it’s about having a smart plan and acting at the right time for you.
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What Happened in the Twin Cities Market — February 2026
February 2026 continued the slow, steady transition from winter into spring — not a surge, but a gradual build. Based on your numbers, closed sales were slightly down in Anoka (-1.8%) and Ramsey (-2.2%), while Hennepin (+0.3%) and Washington (+1.7%) held steady — showing that buyers are still active, just more selective and intentional. Inventory continued to rise, especially in Ramsey County (+13.8%), giving buyers a bit more choice, but overall supply still remained tight at about 2.1–2.4 months, which keeps the market leaning toward sellers.
Prices, however, tell the bigger story — they remained remarkably stable and continued to grow. Average sale prices increased across all counties, with Hennepin at $523K (+3.8%) and steady gains elsewhere. That lines up with Zillow data showing Twin Cities home values still rising modestly year-over-year (around +1–2% annually) and Redfin insights pointing to a competitive market where homes still sell in roughly 40–50 days .
At the same time, statewide data shows that overall demand is a bit softer than last year, with fewer pending sales and slightly slower activity — which is exactly what we expect at this stage of the year . Nationally, this trend is also playing out: buyers are adjusting to interest rates rather than rushing in, and the market is shifting toward a more balanced pace .
The takeaway? February didn’t bring a spike — it brought stability and quiet momentum heading into spring.
What This Means for Consumers (and How It Compares to Last Year)
Here’s the simple, honest version:
This market feels a little easier than last year — but not cheaper.
Compared to early 2025, buyers in February 2026 have:
More homes to choose from (inventory is up)
Slightly less competition
A bit more time to make decisions
But prices have not meaningfully dropped — and in many cases are still up year-over-year. That’s because the Twin Cities continues to deal with one core issue: not enough homes for the number of people who want to live here.
For buyers:
This is actually one of the most strategic windows of the year. You may not see major price cuts, but you can gain advantages in how you buy — stronger negotiation on terms, fewer bidding wars, and more thoughtful decision-making. Zillow even notes that 2026 is shaping up to give buyers a bit more breathing room overall — and we’re starting to see that locally.
For sellers:
The market is still working in your favor — just with more balance than the past few years. Homes are still selling at 98–99% of list price, but buyers are more discerning. The homes that are winning right now are the ones that are priced correctly, well-prepared, and move-in ready. It’s not about pushing the market — it’s about aligning with it.
Compared to last year:
2025 = tighter, more competitive, faster-paced
2026 = slightly more balanced, more thoughtful, still strong
The bigger picture (and the part we like to keep simple):
The Twin Cities market isn’t dramatic — it’s dependable. Prices are rising slowly, inventory is improving slowly, and opportunities are there for both buyers and sellers who plan ahead.
What to Expect in the Twin Cities Housing Market — Early 2026
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As we move into early 2026, the Twin Cities housing market is expected to continue along a familiar path: steady, supply-constrained, and driven more by fundamentals than headlines. While winter typically brings a quieter pace, early indicators suggest buyer demand will remain present — just more intentional. Inventory is likely to stay limited through the first quarter, especially for move-in-ready homes in popular price ranges, which means pricing is expected to remain stable rather than soften significantly. Any increase in listings will likely be incremental, not enough to shift the market into true balance.
Interest rates will continue to influence buyer behavior, but not necessarily stop it. Many buyers entering the market in early 2026 will be those who have already adjusted expectations — focusing on long-term affordability rather than short-term rate timing. As a result, homes that are priced correctly and presented well are still expected to sell efficiently, even if days on market are slightly longer than peak seasons. In short, early 2026 looks less like a reset and more like a continuation of the steady, measured market we saw through the second half of 2025.
What This Means for Buyers and Sellers
For Buyers:
Early 2026 may offer a calmer environment than spring, with fewer competing offers and more time to think through decisions — but not necessarily lower prices. Preparation will be key. Buyers who enter the market with strong pre-approval, realistic expectations, and flexibility will be best positioned to take advantage of opportunities before competition heats up again later in the year. Winter and early spring can be an excellent time to buy strategically, especially for those willing to act decisively when the right home appears.
For Sellers:
Sellers listing in early 2026 will benefit from low inventory and a smaller pool of serious, qualified buyers. While pricing aggressively may no longer work, homes that are staged, well-maintained, and thoughtfully priced should continue to attract strong interest. Listing before the spring rush can help sellers stand out, especially when fewer homes are competing for attention.
The Big Picture:
The Twin Cities remains a market where success is less about timing the market perfectly and more about planning well and acting with intention. Early 2026 is shaping up to reward buyers and sellers who focus on preparation, local expertise, and long-term goals — not quick wins or market speculation.
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