The Minnesota real estate market closed out July 2025 with steady price growth, more homes hitting the market, and buyers finally seeing a little relief in inventory. Across the state, the median home price climbed while the Twin Cities metro crossed the $400,000 milestone for the first time. Although mortgage rates remain a hurdle, demand is holding strong, and homes continue to sell—just at a slightly slower pace than last summer. Here’s a closer look at the latest Minnesota housing trends and what they mean for buyers and sellers moving into the fall market.
Here’s a quick snapshot of where the housing market stood in July:
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Statewide Median Price: $371,000 — up about 3% from last year.
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Twin Cities Metro Median Price: $400,000 — a new record high, and about 2.8% higher than last year.
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Homes Sold: 6,528 across Minnesota — up slightly (+1.5% year-over-year).
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Homes for Sale: 22,566 active listings — nearly a 10% increase compared to July 2024.
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Days on Market: 27 days on average — homes are taking about 4 days longer to sell than last year.
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Above List Price Sales: 37% of homes still sold for more than asking, though that’s down a bit from last summer.
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Mortgage Rates: Averaged around 6.8%, keeping affordability tight for first-time buyers.
👉 What this means: Sellers are still in a strong position, but homes are sitting a little longer. Buyers have more options to choose from thanks to rising inventory, but higher interest rates continue to be the main challenge.
