Minnesota started 2024 with a total of 6,588 single-family homes on the market, with a median home price of $400,000 and an average price per square foot of $216.19. By the end of the year, inventory had increased to 7,705 homes on the market (+17%), with a median home price of $410,000 (+3%), and an average price per square foot of $222 (+3%).
At the start of 2024, the median days on market (DOM) was 84 days – by the end of the year, median DOM had decreased to 84 days.
Minnesota started the year with 30.51% 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 32.97% of homes for sale had taken a price cut.
