🏠 Buying a house in Minnesota | 🏘️ Selling a house in Minnesota | 🚚 Moving to Minnesota
🏡 Home values in Minnesota have risen 4.99% over the past year, indicating a neutral market.
📈 Housing inventory (the total number of homes for sale) stands at 16,497. That's about 3.85 months of inventory, indicating a seller's market.
📊 The sale-to-list price ratio (the percentage of listing price sellers are actually getting) is 99.40%, indicating a seller's market.
How does Minnesota compare to the national average?
| Data point | Value | Rank | Compared to national avg |
| Typical home value | $344,191[1] | #25 of 50 states | 8.4% lower |
| Median listing price | $389,000[2] | #30 of 50 states | 12.2% lower |
| Median sale price | $388,000[3] | #29 of 50 states | 11.3% lower |
| 30-year mortgage rate | 6.94%[4] | #13 of 50 states | 0.5% lower |
| Median days on market | 45[5] | #9 of 50 states | 23.5% shorter |
Looking to buy or sell in Minnesota?
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Buying a house in the Minnesota real estate market
Minnesota has an affordability score of 4.6, meaning it takes 4.6 years of the median household income ($85,086) to afford Minnesota's median home sale price ($388,000). Because of this, we rank Minnesota as the 12th most affordable state for buyers based strictly on prices compared to income.
| Data Point | Value | Rank | Compared to national avg |
| Median sale price | $388,000[6] | #29 of 50 states | 11.3% lower |
| 30-year mortgage rate | 6.94%[7] | #13 of 50 states | 0.5% lower |
| Median household income | $85,086[8] | #13 of 50 states | 10.5% higher |
| Affordability ratio | 4.6 | #12 of 50 states | 18.2% lower |
| Buyers agent commission | 2.85%[9] | #42 of 50 states | 3.7% higher |
Who pays for realtor commission in Minnesota?
Real estate agents' commissions are technically the responsibility of their respective clients - buyers pay their agents, and sellers pay theirs. Each party signs a contract with their agent promising to pay. However, sellers usually offer to pay for the buyer's agent so they can more easily afford the home.
Who pays closing costs in Minnesota?
Sellers are usually responsible for most closing costs, but some closing expenses fall to the buyer. As a buyer, you'll be expected to pay for the mortgage loan origination fee and other lender-related fees, private mortgage insurance, the down payment, an appraisal fee, and a home inspection fee.
Learn more about who pays closing costs in Minnesota.
Resources for Minnesota home buyers
Preparing to buy in Minnesota
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 3.17%, which is the highest in the United States. Buyers' agents charge an average commission of 2.85%, which is the 9th highest in the United States.
| Data point | Value | Rank | Compared to national avg |
| Median listing price | $389,000[10] | #30 of 50 states | 12.2% lower |
| Median sale price | $388,000[11] | #29 of 50 states | 11.3% lower |
| Median days on market | 45[12] | #9 of 50 states | 23.5% shorter |
| Buyer's agent commission | 2.85%[13] | #42 of 50 states | 3.7% higher |
| Listing agent commission | 3.17%[14] | #50 of 50 states | 11.6% higher |
Resources for Minnesota home sellers
Preparing to sell in Minnesota
- Selling a House in Minnesota: 8 Simple Steps
- Average Time to Sell a House in Minnesota
- When Is the Best Time to Sell a House in Minnesota?
- Top Real Estate Agents in Minnesota
Minnesota home selling costs and requirements
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.
| Study | Best Minnesota city | Rank |
| Best Pizza Cities[16] | Minneapolis | 27th best |
| Best Coffee Cities[17] | Minneapolis | 28th best |
| Best LGBTQ Cities[18] | Minneapolis | 16th best |
| Best Bike Cities[19] | Minneapolis | best |
| Best Commuter Cities[20] | Minneapolis | 9th best |
Where to shop for homes in Minnesota
Frequently asked questions
As of October 10, 2025, the median days on market (DOM) in Minnesota is 49. On average, it takes about 49 days to sell in Minnesota.
Home values have risen in Minnesota over the past year. The current median home value is $351,614 and it's projected to rise by 0.43% in the next year.
As of October 10, 2025, sellers in Minnesota are typically getting 100% of the list price for their homes.
Methodology
Information on market conditions is based on Zillow data as of August 2025, Realtor.com data as of September 2025, and HouseCanary data as of October 10, 2025, unless specified otherwise.
We gathered our commission rate data from a September 2025 survey of 828 of agents nationwide. The survey asked about standard local rates for both listing and buying agents. These data points are averages based on responses we’ve received from 19 agents in Minnesota.