Minnesota
Local Housing Market · Zillow ZHVI · September 2026
$348,778
Typical Home Value
▲ 2.3% YoY ▲ 0.19% MoM
7.40%
30Y Mortgage Rate
PMMS · Oct 15, 2026
121bps
YoY Rate Change
▲ Higher than 1yr ago
230bps
30Y/10Y Spread
Norm ~170bps
🏘 Minnesota Home Values
Zillow Home Value Index (ZHVI)
ZillowTypical Home Value
$348,778
▲ 2.3% YoY
Month-over-Month
▲ 0.19% MoM
September 2026
Data Period
September 2026
Updated monthly
Zillow ZHVI · State-level · Smoothed, seasonally adjusted · Updated monthly
📊 National Mortgage Rates
Current Mortgage Rates
Freddie Mac PMMS30Y Fixed
7.40%
PMMS · Oct 15, 2026
15Y Fixed
6.71%
PMMS · Oct 15, 2026
1yr Ago 30Y
6.19%
▲ Rates higher now
30Y/10Y Spread
230bps
Normal · norm ~170bps
Freddie Mac PMMS via FRED · National rates · State-specific rates may vary slightly
📋 Realtor.com Market Data · Minnesota
Market Indicators
REALTOR.COM🏦 LO Market Signal · September 2026
• Inventory is up 30.0% YoY and listing prices are softening 2.3% YoY with 22.1% of listings carrying a price cut. Appraisal risk is lower, but watch for value gaps on pending deals.
• Homes are selling in a median 47 days — a moderate-paced market. Pending ratio is 0.32 — moderate demand, purchase timelines are manageable.
• New listings are increasing 2.4% YoY. More sellers entering the market supports purchase loan volume.
Median Listing Price
$379,900
▼ 2.3% YoY
Median Days on Market
47d
0d YoY
Active Listings
19,379
▲ 30.0% YoY
New Listings
7,746
▲ 2.4% YoY
Price Reduced Share
22.1%
of active listings
Pending Ratio
0.32
pending ÷ active
Realtor.com Research · State-level inventory data · Updated monthly
Hottest Markets in Minnesota
REALTOR.COMTop metros by national hotness rank (supply + demand composite) · September 2026
Duluth
▼ COOLING
National rank #61
Median Price
$350,000
Median DOM
52d
Demand score 93/100
St. Cloud
▼ COOLING
National rank #69
Median Price
$344,900
Median DOM
46d
Demand score 71/100
Minneapolis-St. Paul-Bloomington
▼ COOLING
National rank #78
Median Price
$419,900
Median DOM
39d
Demand score 53/100
Realtor.com Hotness Index · Metro-level · Higher demand score = more buyer activity relative to supply