Is Minneapolis, MN 55402 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Minneapolis is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market

Sold above original list—Share of sales, last 3 months

Median sale-to-list—Sold price ÷ list price

Median days on market—Listing to accepted offer

Median price per sq ft—

The Minneapolis housing market right now

There haven’t been enough recent sales here for a detailed summary yet.

About the area

Hennepin County, MN

Population	667
Median income	$62,105
Average income	$86,199
Median rent	$1,638/month
Owner-occupied	0% of homes
Median year built	1938

Natural hazard riskTornadoes (very high), hail (relatively high), extreme heat (moderate)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 55402; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 55402

Prefilled for 55402Can I win this house?Multiple-offer likelihood for a listing Prefilled for 55402Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Champlin 55316Seller’s market $201 /sq ft Dayton 55327Seller’s market $214 /sq ft Eden Prairie 55344Seller’s market $217 /sq ft Eden Prairie 55346Seller’s market $211 /sq ft Browse all markets →

Where Minneapolis is

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Questions about Minneapolis real estate

What are property taxes in Minneapolis?

About 1.14% of a home’s value a year in Hennepin County, or roughly $4,560 on a $400,000 home.

Local agents

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More tools for 55402

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value Hennepin County property taxes Hennepin County loan limits Closing costs in Minnesota Hottest ZIP codes in Minnesota

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology