April 2026 Market Insights

Key insights from March 2026 (compared to March 2025)*

• New listings: 6,182 | +1.9%
• Inventory: 8,524 | +3.3%
• Months’ supply: 2.3 | +4.5%
• Pending sales: 4,126 | -2.9%
• Median sales price: $380,000 | 0.0%
• Closed sales: 3,242 | -2.6%
• Days on market: 62 | +5.1%

The highlights

• Sellers are joining the spring market, causing inventory to rise 5.4% statewide.
• Rising inflation has contributed to buyer hesitation as rates increase and affordability remains a major hurdle.
• Sellers are having to wait longer, with average days on market rising to 70 days across the state.

Listing activity is up as more sellers join the spring market, with new listings growing 1.9% across both the state and metro area. This has caused inventory to rise 5.4% statewide and 3.3% in the metro. While these numbers remain well below historical norms, the increase in activity has helped ease buyer competition. Seller activity reflects an anticipated seasonal spike, but buyer activity has not matched sellers’ spring enthusiasm.

Buyers continue to face affordability challenges, and the conflict in Iran has caused some to pause as inflation rises and rates increase. At one point, rates reached a nine-month high of 6.64%. This increase was especially noticeable after rates dipped to 5.9% in February, which had given borrowers a significant confidence boost. Though rates have since stabilized around 6.64%, they remain above the levels many borrowers are holding out for, as well as pre-conflict levels.

First-time buyers are especially impacted, as they do not have the equity current homeowners can leverage toward a major purchase like a home. Those looking to downsize have also encountered roadblocks, with new construction projects pausing due to labor issues. These delays in listing have reduced options for move-up buyers, which in turn has limited more affordable opportunities for first-time buyers. As a result, pending sales dipped 3.3% statewide and 2.9% in the metro, marking the sixth consecutive month of year-over-year declines.

Sellers are having to be more patient as buyers move more slowly and are not presenting offers as aggressively as before. Days on market have risen to 70 days statewide and 62 days in the metro. In addition, there was a slight decrease in the percentage of asking price received, with March purchases coming in 0.5% lower than at the same time last year. Still, median sales prices increased slightly by 1.4% across the state, reaching $350,000, while the metro area remained flat at $380,000.

An influx of showing activity points to a stronger spring market, but buyer hesitation could delay purchases. Part of that increase can be attributed to summer homes with private waterfront sales rising 3.5% as many Minnesotans look to make the most of summer. The good news is that buyers have more options, and sellers are seeing modest price gains as the spring market continues to heat up.

Economic check up

• Minneapolis-St. Paul area unemployment rate: 4.8% (as of January 2026)
• Average rates for 30-year conforming mortgage 6.30%**

Ready to help

We are here to help you confidently navigate your housing needs, now and always. Whether you are researching future options, or your circumstances require immediate action, reach out to an Edina Realty agent today for guidance.

*Data courtesy NorthstarMLS for the 16-County Twin Cities metro area for March 2026.

**Data sourced from Freddiemac.com for informational purposes only. Please contact your mortgage consultant for any questions related to specific loan transactions.

Where you live

Edina Realty serves locations across Minnesota and western Wisconsin. Here’s a look at the market indicators where you live. All % changes are year-over-year.

Alexandria Area

• New listings: 112 | -3%
• Inventory: 205 | -3%
• Months’ supply: 2.50 | -7%
• Pending sales: 64 | -6%
• Avg. sales price: $357,133 | +14%
• Days on market: 67 | -9%

Brainerd area

• New listings: 582 | -3%
• Inventory: 1,269 | -1%
• Months’ supply: 3.30 | -3%
• Closed sales: 217 | -11%
• Avg. sales price: $381,590 | +11%
• Days on market: 84 | +24%

Lake Superior area

• New listings: 325 | +4%
• Inventory: 745 | +22%
• Months’ supply: 2.70 | +17%
• Pending sales: 151 | -11%
• Avg. sales price: $323,348 | +16%
• Days on market: 59 | +20%

Southeast Minnesota area

• New listings: 656 | -2%
• Inventory: 1,045 | +11%
• Months’ supply: 2.40 | +4%
• Closed sales: 364 | +0%
• Avg. sales price: $329,808 | +6%
• Days on market: 62 | +2%

St. Cloud area

• New listings: 188 | +19%
• Inventory: 281 | +33%
• Months’ supply: 2.50 | +32%
• Pending sales: 137 | +17%
• Avg. sales price: $304,845 | +11%
• Days on market: 59 | +13%

Mankato area

• New listings: 170 | -7%
• Inventory: 343 | +3%
• Months’ supply: 2.50 | +4%
• Pending sales: 147 | +14%
• Avg. sales price: $303,801 | +2%
• Days on market: 96 | -6%

Northwestern Wisconsin area

• New listings: 470 | -7%
• Inventory: 1,347 | -3%
• Months’ supply: 3.50 | -8%
• Closed sales: 275 | -7%
• Avg. sales price: $323,592 | +3%
• Days on market: 118 | +3%

West Central Minnesota area

• New listings: 293 | +5%
• Inventory: 758 | +27%
• Months’ supply: 3.60 | +24%
• Pending sales: 220 | -2%
• Avg. sales price: $231,813 | +5%
• Days on market: 81 | +23%

Bemidji area

• New listings: 72 | +14%
• Inventory: 158 | -9%
• Months’ supply: 3.70 | -10%
• Pending sales: 33 | +22%
• Median sales price: $269,900 | +6%
• Days on market: 89 | +98%

Leech Lake and surrounding area

• New listings: 51 | -30%
• Inventory: 138 | -3%
• Months’ supply: 3.00 | -12%
• Pending sales: 32 | -6%
• Median sales price: $380,500 | +7%
• Days on market: 80 | -27%

Little Falls area

• New listings: 28 | +22%
• Inventory: 45 | +61%
• Months’ supply: 2.70 | +59%
• Pending sales: 15 | -29%
• Median sales price: $230,000 | -2%
• Days on market: 17 | -67%

Southwest Minnesota area

• New listings: 96 | +7%
• Inventory: 313 | +11%
• Months’ supply: 3.80 | +15%
• Pending sales: 83 | +1%
• Median sales price: $181,250 | +22%
• Days on market: 99 | +32%

Headwaters area

• New listings: 114 | +4%
• Inventory: 349 | +12%
• Months’ supply: 3.60 | -20%
• Pending sales: 58 | +5%
• Median sales price: $271,000 | +2%
• Days on market: 94 | +18%