Minneapolis, MN 55417 Real Estate Market Report

ZIP Code: 55417
Report Date: March 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The Minneapolis, MN (ZIP: 55417) market is currently characterized by a median sold price of $356,000, reflecting a competitive environment despite a down trend in prices year-over-year. This indicates that while the market remains active, it is experiencing some price adjustments, contrasting with broader metro stability and national expectations of slight appreciation. The median days on market stands at a notable 218 days, suggesting a slower sales velocity, which may indicate a shift in buyer sentiment or adjustments in seller expectations.

Inventory conditions show elevated inventory levels relative to sales activity, contributing to a market temperature described as hot. This suggests that while there is strong demand, the supply dynamics are creating a competitive landscape where buyers may have more options, yet sellers still maintain an edge due to the overall market conditions. Additionally, the median market rent is reported at $1,916, reflecting strong rental demand and continued rent increases, which may further influence buyer behavior in the housing market.

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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.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Minneapolis, MN, around 6.11% are 0.54% lower than the average rate of 6.65% seen one year ago in March 2025.

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 $356,000 indicates a competitive market despite a down trend in prices year-over-year.

2. With a median days on market of 218 days, the market is experiencing slower sales velocity, suggesting potential pricing friction.

3. Current inventory levels are characterized by elevated inventory, indicating excess supply relative to sales activity.

4. The median market rent of $1,916 shows strong rental demand, which may impact buyer decisions and market dynamics.

5. Interest rate pressure remains elevated, with current mortgage rates around 6.11%, slightly lower than the previous year's average, potentially affecting buyer affordability.

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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.