Is Minneapolis, MN 55416 a buyer’s or seller’s market?

The Minneapolis housing market right now

In the three months ending August 31, 2026, 31% of homes in Minneapolis, MN 55416 sold above their list price, the typical home went under contract in 25 days and there were 2.9 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 140 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (33% then), homes sold about as fast and the median sale price rose 4% to $431,813. Overall, Minneapolis is about as competitive as it was a year ago.

Within Hennepin County, homes here sell more slowly than in 71% of the county’s ZIP codes, and sell less often over asking than in 55%. On our competition score, Minneapolis ranks #151 of 296 MN ZIP codes with enough sales (score 68 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.