Minneapolis, Minnesota started 2024 with a total of 502 single-family homes on the market, with a median home price of $349,900 and an average price per square foot of $227.09. By the end of the year, inventory had decreased to 483 homes on the market (-4%), with a median home price of $374,900 (+7%), and an average price per square foot of $241 (+6%).
At the start of 2024, the median days on market (DOM) was 63 days – by the end of the year, median DOM had decreased to 63 days.
Minneapolis, Minnesota started the year with 45.62% of homes taking a price cut. (For reference, 35% is the national average for price reductions in a "normal" year.) By the end of the year, about 44.51% of homes for sale had taken a price cut.
