Minnesota housing inventory hits 7-year high, home sales rise 8% in June

(FOX 9) - Minnesota’s housing market is heating up, with more homes on the market and buyers showing renewed interest despite higher mortgage rates.

Minnesota's housing market

What we know:

According to the latest data compiled for June 2026 by Minnesota Realtors, signed purchase agreements, closed sales and new listings all saw gains compared to last year.

By the numbers:

Pending sales throughout Minnesota jumped 8% year-over-year, while in the Twin Cities they rose 9.7%, the report says.

Meanwhile, new listings increased 11% across Minnesota and 10.5% in the metro, as the state ended June with 19,008 homes for sale, up 7.5% from last year. In the Twin Cities, inventory climbed 5.1% to 10,897 homes.

The report says that across Minnesota, homes spent an average of 49 days on the market, with metro homes averaging 42 days — while sellers received slightly less of their asking price, averaging 98.8% statewide and 99.6% in the metro.

Even with more homes on the market, prices are holding steady. The statewide median home price was up 1.4% to $375,000, while in the Twin Cities, it rose 2.1% to $410,000. Appreciation has slowed, but prices are still climbing, reflecting the ongoing gap between supply and demand.

What they're saying:

"We’re seeing a healthier balance emerge between buyers and sellers," said Aarica Coleman, President of Minneapolis Area REALTORS, in the report. "Homes that are priced appropriately are still selling, but buyers have become more selective and are more value conscious."

"It’s encouraging to see more participation from both buyers and sellers," said Wendy Uzelac, President of Minnesota Realtors, in a statement. "Added inventory is creating opportunities for buyers while rising demand supports sellers. Affordability is still a struggle for many, but June’s numbers suggest Minnesotans are finding ways to move forward despite higher mortgage rates."

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