Twin Cities inventory inched up another 2.0% in June… not as strong a year-over-year increase as last year, but increasing nonetheless as it has every month except January and February this year.
When you look at it from the perspective of months supply of inventory, which takes into account not only how many properties are for sale but the rate at which they are selling, the increase was 4.0%… a 2.6 months supply. This means it would take 2.6 months to sell off the entire current inventory if sales continued at the same pace. The red line on the graph below indicates a market balanced between buyers and sellers… we aren’t there yet, it is still a seller’s market.
After falling year-over-year the last three years, new listings increased 0.8%, pending sales increased 3.5% and closed sales increased 7.5% in June 2025.
Days on market before pending continued its march upward, increasing 11.4% this year to 39 days. Median sales price increased 2.8%, to $401,000. Percent of original list price received was 100.0%, the same as last year.
Multiple offers continue to be stronger than before the pandemic, a little higher than June last year, at a measurable 17.0% of closed listings.
When measured by months supply of homes, only the $250k-$350k price range has less than a 2-month supply. Only prices over $1,000,000 are inching into a buyer’s market. The supply of condos continues to be about double that of single family houses and townhouses.
Months supply of inventory of new construction is the same as last June, while the previously owned supply increased by 4.8% overall, most of it condos. Condo supply increased 19.5%, townhouses increased 9.5% and single family houses decreased 5.0%.
The figures above are based on statistics for the combined 13-county Twin Cities metropolitan area released by the Minneapolis Area Association of Realtors.
Never forget that all real estate is local and what is happening in your neighborhood may be very different from the overall metro area.
Check with your Realtor for information on what is happening in your neighborhood.
Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com
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