The Minneapolis housing market is somewhat competitive. Homes in Minneapolis receive 3 offers on average and sell in around 45 days. The median sale price of a home in Minneapolis was $325K last month, up 8.3% since last year. The median sale price per square foot in Minneapolis is $206, up 5.1% since last year.
What is the housing market like in Minneapolis today?
In February 2024, Minneapolis home prices were up 8.3% compared to last year, selling for a median price of $325K. On average, homes in Minneapolis sell after 45 days on the market compared to 64 days last year. There were 327 homes sold in February this year, up from 298 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$325,000
+8.3% YoY | Feb 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Feb 2024
Growth
% YoY
Minneapolis, MN
$325,000
+8.3%
United States
To compare other locations to the Minneapolis and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Minneapolis's median sale price is 21% lower than the national average. Overall cost of living in Minneapolis is 6% lower than the national average. Learn which home features in Minneapolis add value to a home.
How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the Minneapolis housing market?
Minneapolis is somewhat competitive. Homes sell in 39 days.
0
100
61
Somewhat Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
Some homes get multiple offers.
The average homes sell for about 1% below list price and go pending in around 39 days.
Hot homes
can sell for about 2% above list price and go pending in around 14 days.
This data does not reflect actual moves. The latest migration analysis is based on a sample of about two
million Redfin.com users who searched for homes across more than 100 metro areas. To be included in this dataset, a Redfin.com user
must have viewed at least 10 homes in a three month period. This dataset excludes all rentals data.
Home offer insights for Minneapolis
Explore recent offers and recently sold homes in Minneapolis
This area's enrollment policy is not based solely on geography. Please check the school district website for more information.
GreatSchools Rating
9/10
Burroughs Elementary School
Public • K-5
740
Students
12 reviews
8/10
Kenny Elementary School
Public • K-5
478
Students
5 reviews
6/10
Northrop Elementary School
Public • K-5
493
Students
7 reviews
5/10
Waite Park Elementary School
Public • PreK-5
409
Students
10 reviews
5/10
Dowling Elementary School
Public • K-5
477
Students
4 reviews
Only showing 5 of
59 elementary schools.
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Minneapolis housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Minneapolis.
Risk Factor
Flood Factor - Major
11% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Minneapolis has a major risk of flooding. 4,907 properties in Minneapolis are likely to be
severely affected
by flooding over the next 30 years. This represents 11% of all properties in Minneapolis. Flood risk is increasing faster than the national average.
<1% of properties are at risk of wildfire over the next 30 years
Fire Factor
Minneapolis has a minor risk of wildfire. There are 211 properties in Minneapolis that have some risk of being affected by wildfire over the next 30 years. This represents <1% of all properties in Minneapolis.
Minneapolis has minimal risk of severe winds over the next 30 years
Wind Factor
Minneapolis has a Minimal Wind Factor®, which means there is a very low likelihood that hurricane, tornado or severe storm winds will impact this area.