How Much Is My House Worth In Minneapolis MInnesota?

Our team of experts can help you sell your house. Get a free estimate on house value and learn more about selling your home in Minneapolis  Minnesota.

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MINNEAPOLIS Market conditions

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MINNEAPOLIS Recently Sold

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Here are the most frequently asked questions about selling your home

Houses can sell quickly or take a long time. Some factors that can affect the sale of a house are the price, condition, location and whether it’s been used as a rental property.

The Twin Cities housing market remains strong, with the median price reaching $353,000 in March. The Twin Cities metro area set a new record median sales price of $353,000, according to new data from the Minneapolis Area REALTORS® and the Saint Paul Area Association of REALTORS®, a 7.5 percent increase from March 2021.

Homes values in Minneapolis increased by 5.7% over the last year. Over the past five years home values in Minneapolis have increased by more than 46%. Median listing price of a single-family home in Minneapolis is $294,400 based on the most recent research from Realtor.com (November 2021).

 
 
 
11 factors that affect property value
  • Location. The location of a property is the most obvious factor that affects how much a property is worth. …
  • Supply and demand. …
  • Interest rates. …
  • Economic outlook. …
  • Property market performance. …
  • Population and demographics. …
  • Property size and features. …
  • Aesthetics.
We’ve outlined some of the most important factors that influence your home’s value:
  • Neighborhood comps. …
  • Location. …
  • Home size and usable space. …
  • Age and condition. …
  • Upgrades and updates. …
  • The local market. …
  • Economic indicators. …
  • Interest rates.

Having short sales and especially foreclosures on your street decreases the value of your home. Even if they are not direct comparables, as in same square footage and the number of bedrooms and baths, they are in your immediate neighborhood, so can make the entire area depreciate in value.

For most major markets, the Zestimate for on-market homes is within 10% of the final sale price more than 95% of the time. The nationwide median error rate for the Zestimate for on-market homes is 1.9%, while the Zestimate for off-market homes has a median error rate of 6.9%.

  1. Enter your address into a home value estimator. …
  2. Ask a real estate agent for a free comparative market analysis. …
  3. Check your county or municipal auditor’s website. …
  4. Identify trends with the FHFA House Price Index calculator. …
  5. Hire a professional appraiser.
 
 
An amount below 100 means Minnesota is cheaper than the US average. A cost of living index above 100 means Minnesota, Minnesota is more expensive.

Minnesota cost of living is 97.2.
COST OF LIVING Minnesota United States
Overall 97.2 100
Grocery 97.2 100
Health 79.7 100
Housing 101.9 100

All Neighborhoods in Minneapolis, MN

Neighborhoods
Median Listing
Home Price
Listing
$/SqFt
For Rent
$829.9K
$305
$732.5K
$282
$334.9K
$160
$262.5K
$295
$239.9K
$110
$425K
$210
$189.9K
$202
$200K
$111
$322.5K
$176
$375K
$195
$375K
$312
$330K
$188
$262.5K
$228
$360K
$203
$319.9K
$170
$625K
$411
$262.5K
$133
$429.9K
$339
$225K
$142
$255K
$115
 

There are 1,890 homes for sale in Minneapolis, MN, 251 of which were newly listed within the last week. Additionally, there are 1,313 rentals, with a range of $432 to $14K per month. Discover more Minneapolis listings for open houses, price reduced, foreclosures, recently sold, new home communities, and new home construction.

 

Amenities near Minneapolis, MN

  1. The Wedge Community Co-op
  2. Caspian Bistro & Marketplace
  3. Trader Joe’s
  4. Seward Community Co-op
  5. Trader Joe’s
  6. Whole Foods Market
  7. Whole Foods Market
  8. Lunds & Byerlys
  9. Kowalski’s Uptown Market
  10. Lunds & Byerlys Northeast Minneapolis

 

 
 
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