Minneapolis, MN housing market

Minneapolis home values have gone nowhere over the past year, and that flatness is the real story this month. The typical home is worth about three hundred fifty-one thousand dollars, up exactly zero percent from last June. But flat does not mean slow. Homes here are selling in about 33 days, and sellers seem to know where the market is, because the median asking price, around three hundred fifty-six thousand dollars, sits almost right on top of what homes are actually worth. Roughly one thousand eight hundred new listings came on this month against about two thousand three hundred homes for sale, so inventory is turning over, not piling up. And only about 17 percent of listings have taken a price cut, which tells you most sellers are pricing close to reality from the start. If you are thinking about selling, this is a market that rewards accuracy. Price it right and you can be under contract in about a month. Aim high, and you join the small share of sellers cutting later.