Minneapolis, MN 55406 Real Estate Market Report

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.

Market Metrics

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.

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

Property Taxes

Liquidity & Velocity

Market Trends & Context

Key Findings

1. The neighborhood's primary indication of market value is the median sold price of 329,250, which reflects recent transaction levels and should be prioritized over asking prices when setting comps; favor comparables near this sold price when advising sellers or underwriting offers.
2. There is a notable gap between the median listing price of 325,000 and the median sold price of 329,250, which suggests seller expectations are broadly in line with recent transactions rather than a systemic pricing disconnect; listing vs. sold parity may reduce negotiation friction for well-priced homes.
3. Sales velocity appears slow relative to typical metropolitan markets given a median days on market of 249, which suggests slower transaction turnover and that price discipline or condition/marketing improvements may be required to accelerate closings.
4. Market backdrop is supportive: year-over-year pricing is up, market temperature is hot, rent trends are up, and interest rate pressure is moderate—together these signals indicate a strengthening price environment but with caution on financing cost sensitivity for marginal buyers.

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.