Minneapolis, MN 55407 Real Estate Market Report

ZIP Code: 55407
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.

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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

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.

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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.

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Key Findings

1. 322,450 is the representative recent transaction level as the median sold price, indicating realized market value and forming the primary benchmark for pricing decisions in 55407; sellers should price listings with that transaction benchmark in mind to align expectations with closed deals.

2. There is a notable gap between the median listing price of 280,000 and the median sold price of 322,450, which may indicate seller optimism or staging-driven asking strategies; agents should align pricing strategy to recent sales to reduce pricing friction and avoid extended marketing times.

3. The market shows slower on-market velocity with a median days on market of 246, which suggests longer marketing periods and potential need for targeted marketing or pricing adjustments to maintain momentum in a generally hot market.

4. Fundamentals show strength: the market temperature is hot, price trends are up, and rent trends are up, but interest rate pressure is elevated—investors should weigh rising rents and price momentum against financing cost risk when evaluating acquisitions.

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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.

Minneapolis, MN 55407 Real Estate Market Report

ZIP Code: 55407
Report Date: May 2026
Market Temperature: HOT
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

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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

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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.

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Key Findings

1. The neighborhood's $167,500 median sold price serves as the primary indicator of market value and recent transaction activity, with the price year-over-year trend up and the market temperature reported as hot, suggesting realized values are firm.

2. Listing expectations sit above closed transactions: the $174,900 median listing price is higher than the $167,500 median sold price, which may indicate pricing friction or seller optimism rather than a reflection of final sale levels.

3. Despite a hot market, the median days on market of 338 points to slower sales velocity—this, combined with relatively constrained active supply in the analyzed sample, suggests transactions may take longer when pricing is not aligned with recent sales.

4. Rental fundamentals show strength with a $1,649 median market rent and rent year-over-year trend up, while elevated interest rate pressure (elevated) may limit buyer purchasing power and sustain upward pressure on rents as an alternative demand outlet.

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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.