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In April 2026, the Minneapolis housing market experienced a notable shift, with the median home listing price declining to $322,500 while the number of available homes for sale increased by 11.3%. This combination of softening prices and growing inventory presents a different dynamic for buyers and sellers compared to the typical spring market. Based on our experience assessment, this suggests a move towards a more balanced market, though homes are still selling relatively quickly, averaging 38 days on the market.
Typically, home prices in Minneapolis see an upward trend in April. However, recent data indicates a 1.1% decrease in the price per square foot compared to March 2026. This local trend contrasts with the national average, which saw a 1.0% increase in price per square foot over the same period. The median listing price—the middle point of all homes listed for sale—settled at $322,500. This price movement, lagging behind the national market, can be influenced by factors such as a seasonal adjustment in listing strategies or a responsive change in buyer demand to higher mortgage rates. It is a key metric for understanding the central tendency of the market, avoiding the skew of extremely high or low-valued properties.
The supply of homes, often called active inventory, saw a significant jump. In April 2026, there were 719 homes for sale in Minneapolis, a 11.3% increase from the previous month. This growth rate is higher than the historical average for this time of year. For context, active inventory across the United States rose by 7.5%. While this increase provides more options for buyers, it's important to note that inventory remains 31.0% lower than it was in April 2025. The following table illustrates the monthly change in inventory:
| Market | April 2026 Inventory | Month-over-Month Change | Year-over-Year Change |
|---|---|---|---|
| Minneapolis | 719 homes | +11.3% | -31.0% |
| National | 959,251 homes | +7.5% | Data Not Provided |
The pace of the market remains brisk. In April 2026, the average time on market—the number of days a property is listed for sale before an offer is accepted—was 38 days. This is one day longer than both the previous month and the same period last year. Despite this slight increase, Minneapolis homes are selling considerably faster than the national average of 50 days. This metric indicates that well-priced homes in desirable locations continue to attract buyer interest relatively quickly.
In summary, the Minneapolis housing market in April 2026 shows signs of rebalancing. Key takeaways for participants include:
