Minneapolis, MN 55408 Real Estate Market Report

ZIP Code: 55408
Report Date: May 2026
Market Temperature: NEUTRAL
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.

---

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

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.

---

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

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.

---

Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Minneapolis are 6.25% compared to 5.875% when typical loans in this area originated in January 2026.

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

---

Key Findings

1. median sold price: 400,000 is the primary indicator of current market value in 55408 and suggests transactions are completing near this level rather than at asking expectations, so price guidance and offer strategy should prioritize recent solds as the most reliable comps. up

2. There is a sizable gap between median listing price: 676,950 and recent transaction levels, which may indicate pricing friction between seller expectations and realized sale prices and suggests listing strategy should be calibrated to comparable solds rather than aspirational asking prices. moderate

3. The median days on market: 331 points to materially slower sales velocity, which, combined with qualitative observations of relatively constrained active supply, suggests sellers may need longer marketing windows or more aggressive pricing to accelerate offers. down

4. Rental strength is supportive of investment demand: median market rent: 1,300 is trending up alongside a moderate level of interest rate pressure (current 30‑year fixed at 6.25% vs 5.875% in January 2026), so underwriters should stress-test buyers against higher financing costs while recognizing improving rent cashflow potential. neutral

---

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 55408 Real Estate Market Report

ZIP Code: 55408
Report Date: May 2026
Market Temperature: NEUTRAL
Scope: This ZIP code analysis focuses on condominium properties. Metrics are calculated from recent condo sales and active listings within the past 90 days.

---

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

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.

---

Rental Market

---

Property Taxes

---

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.

---

Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Minneapolis are 6.25% compared to 5.875% when typical loans in this area originated in January 2026.

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

---

Key Findings

1. The representative recent sale level is $215,000 and serves as the primary indicator of market value and recent transaction activity for the neighborhood; given the spread versus the $182,000 median listing price, this suggests pricing friction where sellers' expectations may differ from final sale outcomes (balanced but with seller-list price optimism).

2. Liquidity appears muted with a long median days on market of 343, which points to slower sales velocity and suggests transactions may take extended time to complete despite the neighborhood showing stable values (slow-moving market).

3. Pricing efficiency is supported by a median price per square foot of 233, which combined with a median market rent of $1,495 and an upward rent trend indicates continued investor and renter interest, though purchase decisions may be sensitive to financing costs (rising rents).

4. Macro factors add caution: the market temperature is reported as neutral while interest rate pressure is moderate; local mortgage conditions show current 30-year fixed rates at 6.25% versus 5.875% for loans originated in January 2026, which may constrain some buyer affordability and slow transactional uptake (rate-driven headwind).

---

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.