Edina, MN 55416 Real Estate Market Report

ZIP Code: 55416
Report Date: April 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of April 2026, the real estate market in Edina, MN is characterized by a median sold price of $469,900, reflecting a robust market despite elevated interest rates. The neighborhood has experienced a price increase, contributing to a competitive environment for buyers. The significant gap between the median listing price of $774,900 and the median sold price suggests potential pricing friction, indicating that sellers may need to adjust expectations to align with buyer willingness to pay.

Market velocity appears to be slower, with properties spending a median of 244 days on market. This extended timeframe may indicate a cooling in transaction activity, despite the overall market temperature being classified as hot. Elevated inventory levels relative to sales activity suggest that while demand remains, the supply dynamics are shifting, potentially leading to a more balanced market in the near future.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Edina, MN are averaging 6.57% as of March 27, 2026, which is 1.2% higher than the average rate of 5.37% seen in early 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $469,900 indicates strong buyer interest, though it is significantly lower than the median listing price of $774,900, suggesting potential pricing adjustments may be necessary.

2. Properties are taking a median of 244 days on market, indicating a slower sales velocity and potential challenges for sellers in achieving desired sale prices.

3. The market temperature is classified as hot, reflecting ongoing demand despite the challenges posed by elevated interest rates.

4. Rental demand remains strong, with a median market rent of $2,420, indicating a healthy rental market that may attract investors.

5. Interest rate pressure is currently elevated, with mortgage rates averaging 6.57%, which may impact buyer affordability and overall market dynamics.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.