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MINNEAPOLIMEDIA NEWS | Minnesota Home Sales Rise as Housing Inventory Reaches Seven-Year High
MINNETONKA, MN (August 19, 2026) Minnesota’s housing market recorded higher sales, listings and prices in July as the number of homes available for purchase reached its highest level in seven years.
Closed sales increased 11.2% statewide compared with July 2025, according to a market report released by Minnesota Realtors using data from NorthstarMLS and participating multiple-listing services.
New listings rose 9.1%, while pending sales increased 2.7%. Through the first seven months of 2026, statewide closed sales were 2.7% higher than during the same period last year.
The Twin Cities followed a similar pattern. Closed sales increased 10.5%, new listings rose 8% and pending sales climbed 3% from the previous July.
The most significant change occurred in available inventory. Minnesota had 20,084 homes listed for sale at the end of July, an increase of 9.1% from a year earlier.
Twin Cities inventory rose 6.7% to 11,586 homes.
The statewide supply increased from 3.3 months to 3.5 months, while the metro reached three months of supply. Although those levels remain below the five to six months commonly associated with a balanced market, they give prospective buyers more options and additional negotiating room.
Homes took a cumulative 48 days to sell statewide. The Twin Cities average remained at 40 days.
Sellers continued to receive prices close to their asking amounts. Statewide sellers accepted an average of 98.3% of the list price, while Twin Cities sellers received 99.1%.
Prices also continued rising despite the increase in supply. Minnesota’s median sale price reached $375,000, an increase of 2.7% from July 2025. The Twin Cities median rose 3.3% to $408,000.
The results varied between the core cities. Sales increased 9.8% in Minneapolis but declined 4.8% in Saint Paul.
Higher mortgage rates and affordability remain substantial obstacles, particularly for first-time buyers. Mortgage rates approached 6.7% during the reporting period, limiting how much many households can borrow even as more properties enter the market.
The July figures suggest buyers may have more time and leverage than they did during the most competitive years following the pandemic, but the market still generally favors sellers.
The complete statistics are available in the July 2026 Minnesota Housing Market Report.
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