The June 2025 housing market in Downtown Minneapolis continued its pattern of slightly lower pricing and limited inventory, with a few notable shifts in buyer behavior. Here’s how this month compares to June 2024 — and what it could mean for you.
🏠 New Listings: 89 (Down 10%)
Inventory remains tight, with new listings falling for the second consecutive month. Fewer sellers are listing, which could be driven by lingering uncertainty or limited opportunities to trade up or downsize.
That said, month's supply of homes is holding steady at 5.8 months, which is very typical for the Downtown Minneapolis market. For context: supply was 5.3 months in June 2023 and 5.5 months in June 2024. This suggests we are still in a relatively balanced market, even with fewer new listings coming to market.
✅ Closed Sales: 56 (Up 7.7%)
Despite fewer new listings, sales volume rose slightly, showing that motivated buyers are still active and ready to act on the right properties. This increase may reflect spring offers closing in early summer as we are seeing within our team's data.
💲 Median Sales Price: $308,250 (Down 18%)
The sharp drop in the median sale price points to a market shift toward more mid-range and entry-level sales, with fewer luxury or premium units closing in June. The average sale price is also down ~22%, reinforcing the idea that buyers are leaning into affordability — not that individual property values are plummeting.
📏 Median Price per Square Foot: Down 9%
The price per square foot reflects a more moderate decline than the median sale price, suggesting that homes are still holding decent per-unit value. The bigger drop in total sale price likely comes from smaller, less upgraded, or lower-tier units dominating the mix — not widespread depreciation.
⏳ Median Days on Market: 54 (Up Significantly from 2024)
Properties took longer to sell this June, with time on market rising sharply. However, this pace is roughly in line with 2023 levels and may signal buyers taking more time to weigh options, especially in a shifting market where broader economic shifts are unclear.
🔍 Market Insight
June focused on a more value-driven market downtown. Buyers remained engaged, but were more price-conscious and focused on practical purchases coming out of the April & May market closing in June. Sellers should be prepared for slightly longer timeframes and competitive pricing and positioning strategies.
If you're curious about your home’s value or ready to explore your options, let's connect!
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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