August 2025 Downtown Minneapolis Real Estate Market Update

August brought a combination of tighter inventory and stronger closing activity, highlighting the bustling summertime downtown market as we head towards the fall.

Here’s a closer look:

New Listings: Down 26.7%

Just 66 new listings hit the market in August, a 26.7% decline from last year. With fewer homes available, buyers are working with limited options — making standout, well-presented listings more competitive.

Closed Sales: Up 42%

Despite fewer listings, activity was robust. 44 homes closed, a 42% increase year-over-year, showing that buyers remain eager to purchase when the right property becomes available.

Days on Market: Up 17.5%

Homes took longer to sell, with the median days on market reaching 67 — up 17.5% from last year. This shift gives buyers slightly more breathing room to make decisions, especially compared to the broader Twin Cities market, even as competition remains steady.

Prices: Steady at the Core

The median sales price declined 5.4% to $336,000 highlighting luxury price point sales weren't at the forefront in August, while the median price per square foot slipped just 0.7% to $274. This suggests that while total sale prices may vary, the underlying value of downtown living remains resilient.

Takeaway

August highlighted the unique balance of the downtown market: fewer listings, stronger sales, and prices holding steady at the core. For sellers, limited inventory means your property can stand out.

For buyers, opportunities still exist if you act strategically. Whether you’re buying or selling, having a local expert on your side is key — let’s connect to talk about your next move.

REACH OUT TO DISCUSS HOW THESE NUMBERS AFFECT YOUR MARKET TIMING AT [email protected]

Data retrieved from the NorthStarMLS via map of Downtown Minneapolis Neighborhoods including: Loring Park, Elliot Park, Downtown West, Central Minneapolis, North Loop, East Town, Mill District, Nicollet Island, St. Anthony West, and Marcy-Holmes.⁠

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