Minnesota housing inventory hits 7-year high in July as sales, listings rise
Minnesota housing misses goals
The Twin Cities missed annual goals for new housing, affordable units and Black homeownership, according to a recent report. FOX 9’s Leon Purvis has the details.
(FOX 9) - Minnesota’s housing market continued to pick up steam in July, with the latest data showing both buyers and sellers more active, with inventory at its highest level in years.
Minnesota real estate market
What we know:
The latest data compiled by Minnesota Realtors shows that new listings in July jumped 9.1% statewide and 8.0% in the Twin Cities metro. Meanwhile, pending sales rose 2.7% and closed sales were up 11.2% across the state.
Year-to-date, statewide closed sales are up 2.7% and new listings are up 6.2%, showing steady improvement after a sluggish start to the year, according to the data.
Dig deeper:
Although home price growth has slowed, the statewide median price still rose 2.7% to $375,000, and the Twin Cities median rose 3.3% to $408,000.
Inventory reached 20,084 homes for sale statewide, a 9.1% increase from last year, while the Twin Cities saw a 6.7% rise to 11,586 homes.
Twin Cities real estate: Latest trends
The Twin Cities housing market has been on a hot streak with some homes seeing bidding wars above the asking price, but it could be showing signs of slowing down. FOX 9’s Soyoung Kim spoke with area realtors and breaks down the latest numbers.
What they're saying:
"After some slower periods — including the first half of this year — it’s encouraging to see momentum building," Wendy Uzelac, President of Minnesota Realtors, said in a statement accompanying the data. "Buyers are finally seeing some breathing room around market times and negotiations, and sellers who priced realistically are being rewarded."
The Source: Information provided by July 2026 housing market data compiled by Minnesota Realtors.