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A Closer Look at Home Prices, Housing Inventory, and Market Trends Across the Twin Cities and West Metro
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MARKET INSIGHTS | NOVEMBER 2026
A Closer Look at Home Prices, Housing Inventory, and Market Trends Across the Twin Cities and West Metro
BY HOLLY CONNAKER | NOVEMBER 2026
As we move into November, Minnesota's housing market is showing a different pace than many buyers and sellers experienced earlier in the year. More homes are available, properties are taking longer to reach an accepted offer, and pricing trends are not identical across the state and the Twin Cities.
For buyers, increased inventory can create more opportunities to compare homes and evaluate terms. For sellers, it reinforces the importance of understanding current competition, preparing a property carefully, and choosing a pricing strategy based on the market today.
To put these changes into perspective, this update reviews the latest available monthly housing statistics and considers what they may mean for people planning a move across Minnesota, particularly in the Twin Cities and West Metro.
The latest complete monthly data used in this article is for September 2026, published by Minnesota Realtors® on October 16, 2026. These figures describe September market activity, not November transactions. November-specific results will become available after the month closes and the next monthly report is released.
THE LATEST NUMBERS
September 2026 | Compared with September 2025
Homes for Sale
21,090
Up 12.9%
Median Sales Price
$354,900
Down 0.7%
Cumulative Days on Market
56
Up 14.3%
Months of Supply
3.7
Up from 3.3
Source: Minnesota Realtors® September 2026 Housing Market Report. Read the official report [1]
One of the clearest changes in September was the increase in available housing. Minnesota had 21,090 homes for sale, a 12.9% increase compared with the same month last year. The report identifies this as the highest statewide inventory level in seven years. [1]
The Twin Cities metro also recorded an increase, with 12,411 homes for sale, up 11.2% year over year. More available homes give buyers a wider selection and may reduce the urgency to make a decision before they have fully evaluated a property.
Increased inventory does not mean every home is facing the same level of competition. Location, condition, price range, property type, and presentation all influence how a listing performs. Well-positioned homes can still attract strong interest, while properties that are priced above their competition may need more time or a pricing adjustment.
HOLLY'S PRO TIP
A higher inventory count is useful context, but it does not tell the entire story. Buyers and sellers should also look at comparable properties, recent activity in their specific area, days on market, and how closely homes are selling to their original asking prices. The most useful market information is the information that relates directly to the property and location being considered.
REGIONAL MARKET UPDATE
The Twin Cities metro followed some of the same patterns seen statewide, particularly the increase in available homes and the slower pace of market activity. However, the regional median sales price remained slightly higher than it was one year earlier.
According to the September 2026 Minnesota Realtors® report, the Twin Cities metro recorded 12,411 homes in inventory, an increase of 11.2% year over year. The median sales price reached $395,000, up 1.3% compared with September 2025. [1]
Homes in Inventory
12,411
Up 11.2%
Median Sales Price
$395,000
Up 1.3%
Cumulative Days on Market
48
Up 9.1%
Months of Supply
3.2
Up from 2.9
Source: Minnesota Realtors® September 2026 Housing Market Report. View report [1]
The September report shows a difference in year-over-year price movement between Minnesota overall and the Twin Cities metro. Statewide, the median sales price was $354,900, down 0.7%. In the Twin Cities metro, the median sales price was $395,000, up 1.3%. [1]
September 2026 Median Sales Price
Down 0.7% year over year
Up 1.3% year over year
Bars represent relative median price values, with the Twin Cities metro set to 100%.
These figures are useful for understanding broad market direction, but they should not be interpreted as a price estimate for an individual home. Median prices can shift based on the mix of properties sold during a particular month. Neighborhood-level comparable sales provide a more meaningful starting point when evaluating a specific property.
Two additional indicators help explain what is happening beneath the headline inventory and price figures: pending sales and the percentage of original list price received by sellers.
Pending sales are an important indicator of buyer activity because they reflect homes that have gone under contract and are moving toward closing. In September, pending sales declined 11.5% statewide and 11.7% in the Twin Cities metro compared with September 2025. [1]
Pending Sales | Year-Over-Year Change
Minnesota
-11.5%
Pending sales
Twin Cities Metro
-11.7%
Pending sales
The report also shows that sellers received 96.8% of their original list price statewide, compared with 97.5% in September 2025. In the Twin Cities metro, sellers received 97.7%, compared with 98.4% one year earlier. [1]
Sellers Received of Original List Price
Minnesota
96.8%
Compared with 97.5% last year
Twin Cities Metro
97.7%
Compared with 98.4% last year
Together, these figures suggest that buyers had more room to evaluate homes and negotiate than they did a year earlier. For sellers, they reinforce the importance of realistic pricing and understanding the competition before a property enters the market. These are market-wide figures, not a prediction of the offer a particular seller will receive.
Cumulative days on market increased across Minnesota and the Twin Cities in September. Statewide, homes spent 56 cumulative days on market to reach an accepted offer, up 14.3% year over year. In the Twin Cities metro, the figure was 48 days, compared with 44 days one year earlier. [1]
This does not mean every home will take that long to sell. Some properties attract immediate attention, while others may remain available longer because of their pricing, condition, location, or the level of competition in their segment.
For sellers, this is a reminder to prepare thoughtfully before going to market. Pricing, presentation, photography, and an effective launch strategy can influence how buyers respond during the first days a property is available.
Months of supply is one measure used to understand the relationship between available homes and the pace of sales. In September, Minnesota recorded 3.7 months of supply, compared with 3.3 months one year earlier. The Twin Cities metro recorded 3.2 months, compared with 2.9 months a year earlier. [1]
Months of Housing Supply
Minnesota
3.3
3.7
September 2025 | September 2026
Twin Cities Metro
2.9
3.2
September 2025 | September 2026
A higher supply level can give buyers more options and may create more room for negotiation, depending on the property and location. For sellers, it means buyers may have more alternatives to consider. A realistic asking price and a clear understanding of competing listings become especially important.
More inventory can create opportunities to compare homes, revisit priorities, and evaluate a property's value before making an offer. Buyers may also have more room to discuss terms, depending on the level of competition for the home they want.
The strongest approach is to understand recent comparable sales, review the property's condition, and work with a real estate professional who can help assess the local competition. More choices are helpful, but a good decision still depends on preparation and sound financial planning.
With more homes available, pending sales declining, and cumulative days on market increasing, sellers should pay close attention to how their property compares with other active listings. Buyers are evaluating price, condition, location, and overall value.
A thoughtful pricing strategy, careful preparation, professional photography, and a coordinated marketing plan can help a property make a strong first impression. The goal is not simply to list a home, but to position it appropriately for the buyers most likely to be interested.
LOCAL MARKET PERSPECTIVE
Statewide and metro-level statistics offer important context, but real estate decisions are ultimately local. Conditions can vary considerably from one community, neighborhood, and price range to another.
In communities such as Wayzata, Minnetonka, Plymouth, Medina, Orono, Deephaven, and Eden Prairie, buyers may be comparing very different types of properties. A waterfront home, a newer construction property, a traditional single-family home, and a luxury estate each have their own competitive landscape.
That is why a broad market statistic should never be used on its own to determine a home's value or predict how quickly it will sell. A useful local evaluation considers recent closed sales, pending activity, current competing listings, property condition, and the features that distinguish the home.
For homeowners considering a move, the most valuable next step is to understand what is happening in their immediate market rather than relying only on regional averages.
If you are researching a particular community, explore Holly's local guides: Living in Eden Prairie, MN, Living in Minnetonka, MN, and Living in Bloomington, MN.
LOCAL MARKET RESOURCE
Minneapolis Area REALTORS® provides official market information, monthly reports, local statistics, and additional housing-market resources for the Twin Cities region.
LOOKING AHEAD
As the market moves into November, buyers and sellers should pay attention to how available inventory, pricing, and buyer activity are changing in their specific areas. The September report provides useful context, but it cannot tell us exactly how every neighborhood or property category will perform in the weeks ahead.
Seasonal timing is also worth considering. As temperatures drop and the holiday season approaches, some buyers and sellers may adjust their moving plans. Others will continue with their search or sale because of work, family, financial, or lifestyle needs.
For buyers, this can be a good time to clarify priorities, review financing, and evaluate properties carefully. For sellers, preparation and pricing remain important, particularly when buyers have more homes to compare.
Rather than assuming the market will move in one direction, I encourage clients to look at current local activity and make decisions based on their individual circumstances.
A NOTE FROM HOLLY
After more than 20 years in real estate, one thing remains consistent: market statistics are valuable, but they are only part of the decision.
Every property has its own characteristics, and every client has a different reason for buying or selling. A market with more inventory may create opportunities for one buyer, while a seller with a well-prepared and appropriately priced home may still attract serious interest.
My role is to help clients understand the numbers, evaluate their options, and make informed decisions that align with their goals. That starts with looking closely at the property, the neighborhood, and the current competition.
Holly Connaker
Founding Executive REALTOR® | Connaker Group | Compass
COMMON QUESTIONS
Yes. Minnesota recorded 21,090 homes in inventory in September 2026, an increase of 12.9% compared with September 2025. Twin Cities metro inventory increased 11.2% to 12,411 homes. These figures indicate that more homes were available than one year earlier. [1]
The statewide median sales price was $354,900 in September 2026, down 0.7% year over year. In the Twin Cities metro, the median sales price was $395,000, up 1.3%. Price movement varies by location and property type, so statewide figures should not be treated as a valuation of an individual home. [1]
It can be a suitable time for buyers whose finances, timing, and housing needs align with the available homes. Increased inventory may provide more properties to compare, but the right opportunity depends on location, price range, property condition, and competition. Buyers should review current listings and recent comparable sales before making an offer.
The September 2026 report recorded 48 cumulative days on market in the Twin Cities metro, compared with 44 days in September 2025. Individual properties may sell faster or take longer depending on their pricing, condition, location, and competition. [1]
In September 2026, sellers received 96.8% of their original list price statewide and 97.7% in the Twin Cities metro. These are regional averages, not a guarantee of the result for an individual property. [1]
Sellers should review recent comparable sales, active competition, property condition, and the features that distinguish their home. A pricing and preparation strategy should reflect current neighborhood conditions rather than relying only on statewide or metro-wide averages.
Minnesota Realtors® publishes statewide monthly housing reports, while Minneapolis Area REALTORS® provides market data and regional housing-market resources. Both are useful starting points for reviewing market activity. The official resources are linked in the references below. [1] [2]
Whether you are considering buying, preparing to sell, or simply keeping an eye on the Minnesota housing market, current information can help you plan with greater confidence.
Market conditions are not identical across the Twin Cities. Understanding the details of your neighborhood and property type is an important part of making a well-informed real estate decision.
LET'S TALK REAL ESTATE
Whether you are planning your next move or want a better understanding of your home's position in today's market, I would be happy to help you review your options.
Holly Connaker
Founding Executive REALTOR® | Connaker Group | Compass
This article uses September 2026 housing market statistics published by Minnesota Realtors® on October 16, 2026. Statewide and Twin Cities metro figures are reported as presented in that publication. Year-over-year comparisons refer to September 2025 unless otherwise stated.
The article's observations about buyers, sellers, and local market conditions are general real estate commentary and professional perspective. They are not a guarantee of future market performance or a substitute for a property-specific market analysis.
Median sales price, inventory, cumulative days on market, months of supply, pending sales, and percentage of original list price received are market-level measures. They do not independently determine the value, marketing time, or likely sale price of any individual property.
RESEARCH & RESOURCES
[1] Minnesota Realtors®
September 2026 Housing Market Report
Published October 16, 2026 | Reporting period: September 2026
[2] Minneapolis Area REALTORS®
Official Market Data
Regional market reports, statistics, and housing-market resources
[3] Minnesota Realtors®
Housing Market Reports
Official collection of Minnesota housing market reports
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401 Lake Street E, #200
Wayzata, MN 55391