Is Minneapolis, MN 55406 a buyer’s or seller’s market?
Minneapolis is a seller’s market. With about 1 months of supply and 59% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 98% of U.S. ZIP codes, and #1 of 296 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Minneapolis housing market right now
In the three months ending August 31, 2026, 59% of homes in Minneapolis, MN 55406 sold above their list price, the typical home went under contract in 13 days and there was 1 month of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 152 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (58% then), homes sold more slowly (11 days then) and the median sale price rose 2% to $379,836. Overall, Minneapolis is about as competitive as it was a year ago.
Within Hennepin County, homes here sell faster than in 98% of the county’s ZIP codes, and sell more often over asking than in any other ZIP code in the county. On our competition score, Minneapolis ranks #1 of 296 MN ZIP codes with enough sales (score 94 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).
Run the numbers for 55406
Nearby markets
Champlin 55316Seller’s market $201 /sq ftDayton 55327Seller’s market $214 /sq ftEden Prairie 55344Seller’s market $217 /sq ftEden Prairie 55346Seller’s market $211 /sq ft Browse all markets →Towns like Minneapolis nearby
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Questions about Minneapolis real estate
Is Minneapolis a buyer’s or seller’s market?
A seller’s market: there was 1 months of supply in Minneapolis, MN 55406 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Minneapolis?
The typical home went under contract in 13 days in the latest three months.
Do homes in Minneapolis sell over asking?
59% of homes sold above their original list price, and the typical sale closed at 102.5% of the list price.
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.
What is the median home price in Minneapolis?
The median sale price was $379,836 in the three months ending August 31, 2026, about $263 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology