should I sell my house Archives - Living in Minneapolis, Minnesota

More Homes. Less Pressure. But Still a Seller’s Market?

If you’ve been watching the Minneapolis housing market over the past few years, you might be wondering: is this finally the shift we’ve been waiting for? In short — kind of!

Here’s what I’m seeing on the ground (and in the numbers) right now as of July 2025.

📈 Inventory Is Rising — and That Matters

We’ve seen a 31% increase in listings since the start of the year, and there are now about 7,300 active listings in the 7-county Twin Cities metro. That’s nearly 1,000 more homes than this time last year.

More homes on the market means more choices — and a little less panic — for buyers.

Almost every county is now over 2 months of housing supply:

Anoka and Ramsey Counties are still under 2 months.
Carver County is leading the pack at nearly 3 months.

📊 Quick Inventory Refresher:

0–5 months = Seller’s market
5–6 months = Balanced market
6+ months = Buyer’s market

So yes, we’re still in a seller’s market technically… but emotionally, it feels like a big relief for buyers compared to the frenzied pace of the past few years.

🧭 Buyer Experience: More Room to Breathe

If you’re coming from out of state — especially places where homes are lingering on the market or negotiation cycles are long — the Twin Cities might feel strange.

We still see multiple offers. Especially for homes that are:

Closer to the city
Priced right
In “1 out of 10” condition (mint and move-in ready)

Those homes? They’re flying. Still.
But listings that need a little TLC, staging, or smart pricing? Buyers are negotiating, and sellers are making concessions.

💡 What Accepted Offers Are Looking Like Right Now

The transaction coordination team I use (Home Free TC) provided a quick market snapshot based on 47 accepted offers between July 1–11, 2025. It’s a small sample, but all from busy, high-volume agents:

15% of buyers waived inspections (that’s way down from the last few years)
21% were cash offers, 70% conventional financing
Median sale-to-list price: 100%
28% of offers included seller-paid closing costs
Only 4% used escalation clauses, and just 8% included appraisal gap coverage
Home warranties included in 11% of deals
Cancellation rate: 2%

Takeaway? The market is calmer. Strategic. Thoughtful. But good homes still move fast.

🏠 How Property Types Are Trending

🔹 Single-Family Homes:

Median price: $415,000
YOY increase: +3.8%
Median days on market: 14 (including inspection!)
Most homes go under contract within the first week.

🔹 New Construction:

Median price: $595,000
YOY increase: +4.9%
There’s more supply than demand here, which means more negotiating power for buyers. A great opportunity right now.

🔹 Condos:

Median price: Just over $200K
Flat pricing, and days on market are increasing.
Supply > demand = slower sales.

🔹 Townhomes:

Median price: $310,000
Median days on market: 30
Townhome prices are holding steady, but longer market times are giving buyers a bit more wiggle room.

💬 So… Is It a Buyer’s Market Yet?

Not quite — but we’re headed in that direction, and it feels a whole lot better for buyers than it did even a year ago.

If you’re thinking about buying, there are real opportunities right now.
If you’re selling, presentation and pricing matter more than ever — but you still hold strong ground.

🤝 Want Help Navigating This Market?

Whether you’re relocating, downsizing, upsizing, or just exploring options — I’m here to help. I’ve worked with clients all across the country and love helping people figure out whether Minnesota is their next home.

📩 Feel free to reach out — mschumann@kw.com or call / text 773-791-2015

Thanks for reading!
– Mary Schumann

I wanted to talk a bit about how to navigate buying or selling a home now that we have to contend with corona virus. It’s an uncertain time and we all want to remain safe, and fortunately people have been buying and selling properties at a distance for a long time and we are equipped to adjust our business to minimize close contact and reduce the possibility of contracting it for ourselves and others.

Some recommended steps:

If you are selling your home – you can list it in a ‘withheld” status. This limits marketing to only agents within a broker’s offices, NOT the general public. My broker has 800 agents, and any buyers that they represent would then be able to match their clients with your home. So, it’s not AS many people, but they are qualified people.
As a withheld listing you would not be able to hold open houses (general public), but when you want to avoid contact with people, open houses aren’t recommended. Consider having a virtual open house if you want one, with the use of a 360 camera you can allow buyers to navigate on their own virtually, and it can exist for viewing longer than the hours of an open would.
Virtual showings… if you don’t want to see every property in person, your agent can video the property and see if there are odors, defects that aren’t evident in the photos, a view of the neighborhood, etc. It cuts down on seeing quite as many properties in person.
I ask sellers to leave ALL doors open, ALL lights on to minimize the surfaces that would have to be touched in the home.
I bring Lysol wipes to all showings – and I wipe down the key box, kets, door handle, light switches, railings, etc so that surfaces are clean.
Continuing with sanitation – hand sanitizer on the way IN to a house and hand sanitizer on the way OUT of the house.
Screen buyers with health and travel questions.
Use a virtual broker like Keller Mortgage… they do great work and they save you money! no loan origination fee, low rate, $1000 credit at closing for loans over $150K
About the “market” – the one you sell in is also likely the one that you will buy in. If your home loses a little on price, the house you are buying likely will as well.
Finally – people stay in their homes for 7-10 years on average. Home prices trend UP over TIME, the daily market conditions are only relevant if you’re buying and selling daily!
You don’t have to be present for MOST things – even closings can often be done remotely. We use e-signatures on documents regularly – it’s a standard way of doing business already.

Thinking about buying or selling and have questions? Let me know your thoughts!

mschumann@kw.com

Tag: should I sell my house

🏡 Minneapolis Real Estate Market Update – July 2025