Is Minneapolis, MN 55408 a buyer’s or seller’s market?

The Minneapolis housing market right now

In the three months ending August 31, 2026, 25% of homes in Minneapolis, MN 55408 sold above their list price, the typical home went under contract in 33 days and there were 3.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 81 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (25% then), homes sold faster (43 days then) and the median sale price fell 16% to $309,866. Overall, Minneapolis is more competitive than a year ago, so tougher for buyers.

Within Hennepin County, homes here sell more slowly than in 81% of the county’s ZIP codes, and sell less often over asking than in 76%. On our competition score, Minneapolis ranks #219 of 296 MN ZIP codes with enough sales (score 55 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.