June 2025 Market Insights

Key insights from June 2025 (compared to June 2024)*

• New listings: 7,096 | +0.6%
• Inventory: 9,588 | +4.5%
• Months’ supply: 2.50 | +4.2%
• Pending sales: 4,719 | +0.5%
• Median sales price: $395,000 | +2.6%
• Closed sales: 4,628 | +0.3%
• Days on market: 44 | +7.3%

The highlights

• New listings in May grew 5.3% statewide and 0.6% in the Twin Cities.
• With trade tensions and higher mortgage rates, fewer buyers have been willing to commit to a sale than we would normally expect.
• More committed, qualified buyers have entered the market in search of larger homes, allowing their current homes to be listed and welcome first-time buyers to the market.

Following the trends of summers past, more homeowners have joined the summer market by listing their homes in May. This is good news for buyers who have been patiently waiting for more inventory to help balance the market, offer more options, slow down the urgency and lessen the competition.

But while inventory is growing, there has been a more modest increase in sales. Pending sales were up a meager 0.5% in the Twin Cities metro this past month, in part due to economic uncertainty and higher mortgage rates (though not as high as we’ve seen earlier this year). However, with increased inventory and the potential for lower rates as trade tensions lessen, it is expected that sales will continue to grow throughout the summer.

One trend of note is that current buyers are more qualified and serious about buying. There has been an increase in move-up buyers who are using their current home equity to enter the market and search for larger homes to accommodate their growing families and aging parents. With this group moving up and listing their current homes, there are more opportunities for first-time buyers who now have a larger pool of homes under $300,000 to choose from.

Make no mistake, it is still a seller’s market. Sellers are fetching anywhere from 99.3-100.5% of their original listing price, with the median home price rising 2.6% in the Twin Cities area to $395,000. But with more sellers willing to list and buyers of all price ranges ready to make a purchase, we can expect a continued push toward a more balanced market.

Economic check up

• Minneapolis-St. Paul area unemployment rate: 3.0% (as of April 2025)
• Average rates for 30-year conforming mortgage 6.84%**

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 June 2025.

**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: 190 | +36%
• Inventory: 299 | +21%
• Months’ supply: 3.90 | +22%
• Pending sales: 125 | +17%
• Avg. sales price: $332,454 | -5%
• Days on market: 52 | +4%

Brainerd area

• New listings: 878 | +15%
• Inventory: 1,712 | +21%
• Months’ supply: 4.60 | +28%
• Closed sales: 423 | -6%
• Avg. sales price: $367,252 | +2%
• Days on market: 50 | +6%

Lake Superior area

• New listings: 563 | +42%
• Inventory: 950 | +37%
• Months’ supply: 3.60 | +44%
• Pending sales: 274 | -9%
• Avg. sales price: $344,780 | +11%
• Days on market: 32 | -6%

Southeast Minnesota area

• New listings: 669 | +12%
• Inventory: 1,088 | +23%
• Months’ supply: 2.60 | +24%
• Closed sales: 513 | +7%
• Avg. sales price: $355,631 | +7%
• Days on market: 37 | +6%

St. Cloud area

• New listings: 196 | +2%
• Inventory: 291 | +27%
• Months’ supply: 2.70 | +35%
• Pending sales: 154 | No change
• Avg. sales price: $304,126 | +2%
• Days on market: 28 | -18%

Mankato area

• New listings: 235 | +10%
• Inventory: 381 | +25%
• Months’ supply: 2.80 | +27%
• Pending sales: 187 | -1%
• Avg. sales price: $302,211 | -2%
• Days on market: 81 | +1%

Northwestern Wisconsin area

• New listings: 679 | +4%
• Inventory: 1,794 | +12%
• Months’ supply: 4.80 | +7%
• Closed sales: 479 | +13%
• Avg. sales price: $344,034 | -5%
• Days on market: 84 | +11%

West Central Minnesota area

• New listings: 284 | -16%
• Inventory: 739 | +20%
• Months’ supply: 3.50 | +21%
• Pending sales: 235 | No change
• Avg. sales price: $236,604 | +9%
• Days on market: 60 | -2%

Bemidji area

• New listings: 102 | +23%
• Inventory: 256 | +73%
• Months’ supply: 6.50 | +103%
• Pending sales: 43 | -27%
• Median sales price: $268,000 | -5%
• Days on market: 38 | +41%

Leech Lake and surrounding area

• New listings: 122 | +14%
• Inventory: 233 | +32%
• Months’ supply: 5.90 | +48%
• Pending sales: 48 | -21%
• Median sales price: $320,000 | +0%
• Days on market: 12 | -29%

Little Falls area

• New listings: 32 | +33%
• Inventory: 31 | +19%
• Months’ supply: 1.70 | +21%
• Pending sales: 32 | +45%
• Median sales price: $260,000 | +2%
• Days on market: 17 | +21%

Southwest Minnesota area

• New listings: 130 | +6%
• Inventory: 288 | +16%
• Months’ supply: 3.80 | +12%
• Pending sales: 88 | +7%
• Median sales price: $167,250 | -14%
• Days on market: 71 | +9%

Headwaters area

• New listings: 173 | +10%
• Inventory: 325 | +21%
• Months’ supply: 6.50 | +59%
• Pending sales: 78 | -25%
• Median sales price: $260,000 | +9%
• Days on market: 69 | -5%