October 2022 • Downtown in Review

October 2022 • Downtown in Review

  • 11/3/22

How has this October stacked up in comparison to October 2021? 

Lynn highlights key data about the October 2022 real estate market in Downtown Minneapolis neighborhoods with data retrieved from the NorthstarMLS. 

The October 2022 data compared to October 2021 data highlights the following insights:

  1. While the average price per square foot in Downtown dropped -4.5% with available listings and sales in October 2022, the median price per square foot rose +2.7%. 
  2. While the average sales price dropped -2.0% comparatively to 2021, the median sales price rose a significant +13.4%.
  3. Days on market, both average and median, rose significantly at +47.2% and +108.8% respectively, over October 2021 numbers meaning listings are available for a longer period of time than in October of the previous year. 
  4. The number of closed sales, pending sales, and new listings are all down compared to October of 2021 at -15.1%, -23.9%, and -20.3% respectively. 


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.⁠


Do you have questions about Downtown Minneapolis or surrounding real estate markets?

Contact our team by call, email, or submitting a form at: https://lynnburnrealestate.com/

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