Minnesota Real Estate Market in 2021: Forecasts + Trends

Clever Real Estate


Clever Real Estate

October 1st, 2021
Updated October 1st, 2021


Minnesota real estate trends

Real estate trends in Minnesota | Sellers | Buyers | Investors | The best and worst of Minnesota | Minnesota resources

Minnesota real estate trends (October 2021)

How is the real estate market in Minnesota?
🏠 Average home value: $305,474
📈 1.55% home value increase month over month
💰 Median sale price: $311,000
⏳ 46 days on the market
🔑 Homes on the market: 12,825
📆 1.1 months of housing inventory
🏦 30-year mortgage rate: 2.99%
💵 Average income: 57144
State of the market: A-
Listing prices decreased slightly in Minnesota, and as a result, properties are starting to get snatched up by buyers. And since there isn't enough inventory to meet demand long term, this seller's market should hold strong as long as homeowners stay realistic about their listing prices.
*Data last updated October 2021

Minnesota is nicknamed the Land of 10,000 Lakes for its stunning natural beauty. But along with its shining lakes and lush forests, the state is also home to the Twin Cities — St. Paul and Minneapolis — where Fortune 500 companies including Target and General Mills are headquartered.

Minnesota's overcast weather and snowy winters make it an ideal place to practice the Danish tradition of hygge.

If you're thinking of buying or selling in Minnesota, these Minnesota housing predictions and stats can help you make an informed decision.

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Selling a home in Minnesota

Minnesota real estate market forecast for sellers
⏰ Homes are selling 8.5 days faster than the annual average
💰 Homes are selling for $6,346 more than the annual average
💸 Average listing commission: 2.97%
💸 Average buyer's commission: 2.71%

How to sell a home in Minnesota

Cost to sell a home in Minnesota

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Buying a home in Minnesota

How much home you can buy with $300,000 in...
🏠 Minneapolis: 1,588 sq ft
🏡 Rochester: 2,415 sq ft
🏡 Duluth: 2,105 sq ft
🏠 Brainerd: 1,559 sq ft

Investing in Minnesota real estate

Best of Minnesota

Each month, we compare cities in Minnesota based on different criteria. This month, we're looking at affordability and ranking the best cities in the state.

Most Affordable Cities in Minnesota
1. Duluth
2. St. Cloud
3. Rochester

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Worst of Minnesota

Each month, we compare cities in Minnesota based on a different criteria. This month we're looking at affordability data. These are the cities that ranked the worst in the state.

Least Affordable Cities in Minnesota
1. Faribault-Northfield
2. Brainerd
3. Minneapolis-St. Paul-Bloomington

Minnesota resources

👋 Next Steps: Talk to an expert!

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Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, S&P Global, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.

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