Is Minneapolis, MN 55404 a buyer’s or seller’s market?

The Minneapolis housing market right now

In the three months ending August 31, 2026, 8% of homes in Minneapolis, MN 55404 sold above their list price, the typical home went under contract in 60 days and there were 5 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 39 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 18%, homes sold more slowly (54 days then) and the median sale price fell 27% to $214,857. Overall, Minneapolis is less competitive than a year ago, which gives buyers more room.

Within Hennepin County, homes here sell more slowly than in 95% of the county’s ZIP codes, and sell less often over asking than in 95%. On our competition score, Minneapolis ranks #290 of 296 MN ZIP codes with enough sales (score 21 out of 100).

Nearby, buyers who want less competition could look at Minneapolis 55454 (0% sold over asking) or Minneapolis 55403 (6% sold over asking), while Minneapolis 55406 (59% sold over asking) and Minneapolis 55441 (58% sold over asking) are even more competitive.