The Minnesota Real Estate Market: 2024 Trends

I want to... 🏠 Sell my home | 🗝️ Buy a home | 🗺️ Find a new place to live in Minnesota

💡 Key Minnesota housing market facts

Data PointValueRankCompared to National Avg
Typical Home Value $334,119[1]#25 of 50 states8.9% lower
Median Listing Price $387,000[2]#29 of 50 states12.1% lower
Median Sale Price $364,300[3]#30 of 50 states12.9% lower
30 Year Mortgage Rate 6.94%[4]#13 of 50 states0.5% lower
Median Days on Market 46[5]#11 of 50 states18.1% shorter
Show more

Looking to buy or sell in Minnesota?

Enter your zip code to match with top agents in your area!

🗺️ Buying a house in the Minnesota real estate market

Minnesota has an affordability score of 5, meaning it takes 5 years of the median household income ($73,382) to afford Minnesota's median home sale price ($364,300). Because of this, we rank Minnesota as the 12th most affordable state for buyers based strictly on prices compared to income.

Data PointValueRankCompared to National Avg
Median Sale Price $364,300[6]#30 of 50 states12.9% lower
30 Year Mortgage Rate 6.94%[7]#13 of 50 states0.5% lower
Median Household Income $73,382[8]#13 of 50 states13.7% higher
Affordability Ratio 5.0#12 of 50 states22.3% lower
Buyers Agent Commission 2.62%[9]#39 of 50 states3.2% higher
Show more

Resources for Minnesota home buyers

🗺️ Selling a house in the Minnesota real estate market

According to our detailed survey of Minnesota real estate agents, listing agents (those representing the seller) charge an average commission in Minnesota of 3.15%, which is the 2nd highest in the United States. Buyers' agents charge an average commission of 2.62%, which is the 12th highest in the United States.

Data PointValueRankCompared to National Avg
Median Listing Price $387,000[10]#29 of 50 states12.1% lower
Median Sale Price $364,300[11]#30 of 50 states12.9% lower
Median Days on Market 46[12]#11 of 50 states18.1% shorter
Buyer's Agent Commission 2.62%[13]#39 of 50 states3.2% higher
Listing Agent Commission 3.15%[14]#49 of 50 states15.6% higher
Show more

Resources for Minnesota home sellers

Moving to Minnesota

According to our recent moving trends survey[15], 5% of Americans indicated that they would choose to move to Minnesota if money were no object. Likewise, 5% of survey respondents indicated that they would move to Minneapolis among a choice of America's largest cities.

Here's how Minnesota cities rank in a number of our research studies.

StudyBest Minnesota cityRank
Best Pizza Cities[16]Minneapolis27th best
Best Coffee Cities[17]Minneapolis28th best
Best LGBTQ Cities[18]Minneapolis16th best
Best Bike Cities[19]Minneapolisbest
Best Commuter Cities[20]Minneapolis9th best
Show more

Article Sources

[1] Zillow – "Zillow Home Value Index". Updated October 31, 2024.
[2] Realtor.com – "Realtor.com Data Library". Updated October 2024.
[3] Redfin – "Redfin Data Center". Updated October 2024.
[4] Bankrate – "Bankrate". Updated November 2024.
[5] Realtor.com – "Realtor.com Data Library". Updated October 2024.
[6] Redfin – "Redfin Data Center". Updated October 2024.
[7] Bankrate – "Bankrate". Updated November 2024.
[8] US Census – "US Census, 2020 American Community Survey". Updated 2020.
[9] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated November 2024.
[10] Realtor.com – "Realtor.com Data Library". Updated October 2024.
[11] Redfin – "Redfin Data Center". Updated October 2024.
[12] Realtor.com – "Realtor.com Data Library". Updated October 2024.
[13] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated November 2024.
[14] Clever Real Estate – "Clever Real Estate survey of American real estate agents". Updated November 2024.
[15] Home Bay – "Half of Americans Are Surprised by How Much It Costs to Move". Updated February 26, 2024.
[16] Clever Real Estate – "The 15+ Best Pizza Cities in America". Updated February 12, 2024.
[17] Clever Real Estate – "The Best (and Worst) Coffee Cities in America". Updated January 12, 2024.
[18] Clever Real Estate – "The Most (and Least) LGBTQ-Friendly Cities in America". Updated October 23, 2023.
[19] Clever Real Estate – "The Most Bike-Friendly Cities in the U.S.". Updated July 17, 2023.
[20] Clever Real Estate – "The Best (and Worst) Cities for Commuters". Updated September 21, 2023.

Better real estate agents at a better rate

Enter your zip code to see if Clever has a partner agent in your area
If you don't love your Clever partner agent, you can request to meet with another, or shake hands and go a different direction. We offer this because we're confident you're going to love working with a Clever Partner Agent.