Minnesota real estate weekly update

23 Apr Minnesota real estate weekly update

Minnesota real estate weekly update

This is Jeff Anderson’s Minnesota real estate weekly update for April 23rd, 2026.

We review the real estate facts and future trends

First the trends of our real estate market

Our spring real estate season is here with a shift to a neutral real estate market. The federal reserve discussed interest rates last month and decided not to lower them as tariffs are affecting inflation and with so much uncertainty around our foreign policy and the Iranian War. The higher gas prices from the Iranian conflict will impact inflation in a negative way as well.

In this ever-changing MN real estate market, it is important to work with an experienced real estate agent. You can trust you have advantage you have when your agent has over 30 years of experience. Real estate experience is priceless!

Next the facts

Our current housing affordability Index for Minnesota real estate for March was 126. That compares to 124 at the same time last year. The higher the number equals greater home buying affordability in the Minneapolis/St. Paul area. The current inventory of homes for the seven-county area that is for sale is 8,910. That compares to 8,421 at this time in 2025. An interesting fact, in 2009 when we had our first real estate correction in 40 years in Minnesota, we then had over 36,000 homes for sale. Sales made for the past week were 989, compared to 1,063 in the same week last year. Sales pending for the last 3 months are down 4.8 percent compared to last year.

We find in an average real estate market that we would have a three-month supply of housing inventory. We now have 2.3 months (March figures). Last year in March we had a 2.2 month supply. The average number of days on the market for the seven-county Twin Cities area was 62 days in March and that is compared to 59 days last year.

More Minnesota real estate facts

The median sales price for March was $380,000 in the Twin Cities area. The average sale to list price was 98.5% for March and that compares to 99% in 2025. To see more Minnesota real estate market information visit my website at https://www.mnrealestate.com/twin-cities-information/area-appreciation-rates/. You will find comprehensive and up-to-date facts about our Minnesota real estate market!

Our current interest rates in the Twin Cities

We are about 6% for conventional and 5.75% for FHA/VA. These rates have gone up because of the Iranian war. Gas prices have risen with no let up in sight and will be a drain on our economy and will increase inflation so don’t expect a decrease anytime soon.

Lastly, what is the future of Minnesota real estate?

We are now in our busy spring real estate season. Inventory is increasing now but so are buyers in the market. The best homes in popular areas will continue to have multiple offers. This market is more of a neutral real estate market then we have seen for springtime in quite a few years.

This is a suitable time to discuss your housing needs for 2026!

Jeff Anderson

The Anderson Team

www.mnrealestate.com

RE/MAX RESULTS

612-386-8600