Published October 11, 2026 in Market Update

More listings are giving Minneapolis buyers more room

By Mandy Kruse

Real estate, Minneapolis, MN

The biggest shift right now is supply. Realtor.com reported that Minneapolis-St. Paul-Bloomington inventory grew 31.2% year over year in September 2026. More homes to choose from changes the math for sellers. Pricing and preparation matter more when buyers have options.

These numbers cover the three months ending August 31, 2026. That is the period behind every ZIP code figure below.

Rates are making buyers think twice

CNBC reported the average 30-year fixed rate hit 7.49% last week. Realtor.com also noted rates surged above 7% for the first time since January 2025. Higher rates slow decisions. That is part of why more listings are sitting longer in some parts of Minneapolis.

ZIP 55401: more homes, but buyers are still moving

The Real Estate Data Aggregator counted 115 homes for sale in 55401 in the three months ending August 31, 2026. That is up 22.3% from the same period a year before. Supply is growing. But pending sales rose 9.4% to 70, so demand is holding up.

The Real Estate Data Aggregator put the median sale price at $339,000, up 5.6% from a year ago. Homes took a median of 59 days to sell, which is 11 days shorter than last year. Not every home moved fast, but the trend is improving.

The Real Estate Data Aggregator found that 18.6% of homes in 55401 went under contract within two weeks of listing. That is up 6.1 points from a year ago. Well-priced homes are still finding buyers quickly.

ZIP 55403: slower, and sellers should know it

The Real Estate Data Aggregator recorded 7.5 months of supply in 55403 for the three months ending August 31, 2026. That is up 2.7 months from a year ago. More than six months of supply generally favors buyers. Sellers here face more competition.

The median days on market in 55403 was 98 days, according to the Real Estate Data Aggregator. That is 36 days longer than the same period last year. Only 2.4% of homes went under contract within two weeks, down 18.9 points from a year ago. Homes are sitting.

The Real Estate Data Aggregator put the median sale price at $277,500 in 55403, up 50% from a year ago. That jump looks large, but only 36 homes sold, down 26.5%. A small number of sales can move the median a lot. Read that figure with care.

ZIP 55405: the quickest of the three

The Real Estate Data Aggregator counted a median of 23 days on market in 55405 for the three months ending August 31, 2026. That is 5 days shorter than a year ago. Months of supply sat at 3.1, the lowest of the three ZIP codes in this story.

The Real Estate Data Aggregator put the median sale price at $509,000 in 55405, up 7.6% from a year ago. Nearly 3 in 10 homes (29.6%) sold above list price. That share is down 13 points from last year, so competition has eased. But 55405 is still moving faster than 55401 or 55403.

ZIP 55411: strong sale prices, but fewer above-list wins

The Real Estate Data Aggregator found the average sale-to-list ratio in 55411 was 100.2% for the three months ending August 31, 2026. Sellers here are getting full price on average. But the share of homes that sold above list dropped 12.3 points to 27.4%. Bidding wars are less common.

The Real Estate Data Aggregator put the median sale price at $236,500 in 55411, down 9.2% from a year ago. Prices dipped a little here. Supply grew too, with 98 homes for sale, up 18.1%. Sellers in 55411 need to price carefully.

How the ZIP codes compare

The wider picture

Realtor.com put the median home price in the Minneapolis-St. Paul-Bloomington metro at $407,500 in September 2026. The Federal Housing Finance Agency reported U.S. house prices rose 2.6% from July 2025 to July 2026. Local prices are moving in different directions depending on the ZIP code.

CNBC reported that refinance applications were 56% lower than the same week a year ago. Rates at 7.49% are keeping some buyers on the sidelines. That gives well-prepared sellers a clearer field, but only if they price to meet the buyers who are still active.

These numbers cover the three months ending August 31, 2026. Your block, your street or your building type can sit well outside what the ZIP code average shows. A closer look at your address tells a clearer story.