Real Estate Market Update for Minneapolis, MN
Welcome to September's Market Update. Let’s take a look at residential real-estate activity in your area during the month of August. The number of active listings was down 38% from one year earlier, and down 21% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just under 250-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 13%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just over 220-thousand dollars. The number of units sold decreased 3% year-over-year, and decreased 5% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
Show Transcript
Map Information for Minneapolis, MN
Area Information for Minneapolis, MN
  • Population: 404,352
  • Median Age: 33.67 yr
  • Median Commute Time: 21 mins
  • Educational Climate*: 4
  • Sales Tax: 7%
  • Population Density: 7,491/sq mi
  • Population Change Since 2000: 5.75%
  • Closest Airport: Minneapolis-st Paul International/wold-chamberlain
  • Closest College: St Marys Univ Minnesota-minneapolis Cmps
  • Closest Jr. College: Minneapolis Community And Tech College
  • Median Household Income: $51,945
  • Annual Residential Turnover: 23%
  • Median Home Sales Price: $202,000
  • Closest Major Sports Team: Minnesota Vikings
  • Change Avg. Household Income Since 2000: 41.79%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Minneapolis, MN
Median Age: 33.67 Married: 27% Number of Households: 174,138 Households with Children: 37,601
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for Minneapolis, MN

      School Name Distance Type Grades School Rating Parent Rating
      Gleason Lake Elementary School 2.6 mi Public PRESCHOOL-5 5 0
      Oakwood Elementary School 2.9 mi Public K-5 4 0
      Greenwood Elementary School 3.5 mi Public K-5 5 0
      Wayzata Central Middle School 3.6 mi Public 6-8 5 0
      Birchview Elementary School 3.8 mi Public K-5 4 0
      Kimberly Lane Elementary School 4.2 mi Public K-5 5 0
      Plymouth Creek Elementary School 4.7 mi Public K-5 5 0
      Wayzata High School 4.7 mi Public 9-12 5 4
      West Lutheran High School 4.9 mi Private 9-12 0 0
      Sunset Hill Elementary School 5.4 mi Public K-5 4 0
      Providence Academy 5.6 mi Catholic PRESCHOOL-12 0 0
      Wayzata East Middle School 6.1 mi Public 6-8 5 0
      Fourth Baptist Christian School 6.2 mi Private PRESCHOOL-12 0 0
      Robbinsdale Armstrong Senior High School 7.1 mi Public 9-12 2 3
      Zachary Lane Elementary School 7.4 mi Public K-5 4 0
      Plymouth Middle School 7.7 mi Public 6-8 2 4
      Robbinsdale Cooper Senior High School 9.1 mi Public 9-12 1 3
      Perpich Center For Arts Education 9.6 mi Public 11-12 2 3
      St. Louis Park Senior High School 9.8 mi Public 9-12 2 3
      Park Spanish Immersion Elementary School 10.2 mi Public K-5 4 0
      Prairie Seeds Elmentary School Academy 10.4 mi Public K-5 0 0
      Benilde-st Margaret's School 10.4 mi Catholic 7-12 0 4
      Breck School 10.5 mi Private PRESCHOOL-12 0 0
      Maranatha Christian Academy 10.6 mi Private PRESCHOOL-12 0 0
      Highlands Elementary School 10.8 mi Public K-5 5 0
      Creek Valley Elementary School 10.9 mi Public K-5 5 0
      Countryside Elementary School 11.0 mi Public K-5 4 4
      Edina Senior High School 11.4 mi Public 10-12 5 4
      Valley View Middle School 11.4 mi Public 6-9 5 0
      Park Brook Elementary School 11.6 mi Public PRESCHOOL-5 0 0
      Normandale Elementary School 11.8 mi Public K-5 5 0
      South View Middle School 11.9 mi Public 6-9 5 0
      Concord Elementary School 12.1 mi Public K-5 5 0
      Southwest Senior High School 12.3 mi Public 9-12 2 4
      Park Center Senior High School 12.4 mi Public 9-12 1 3
      North Senior Academy & North Academy Of Arts And Communications 12.5 mi Public 9-12 0 1
      North Academy Arts/communication 12.5 mi Public 9-12 0 4
      Best Academy 12.6 mi Public K-8 1 0
      Brooklyn Middle School 12.6 mi Public 7-9 2 0
      Henry Senior High School 12.6 mi Public 9-12 2 4
      Hmong International Academy 12.7 mi Public K-8 0 0
      Lake Harriet Upper School 12.7 mi Public 4-8 5 0
      Chesterton Academy 12.8 mi Catholic 9-12 0 0
      Wellstone International High School 13.1 mi Public 9-12 0 5
      Insight School Of Minnesota 13.2 mi Public 9-12 1 4
      Burroughs Elementary School 13.5 mi Public K-5 5 0
      Fair School Downtown 13.6 mi Public K-3 1 0
      Loring-nicollet High School 13.7 mi Public 9-12 1 0
      Brooklyn Center Secondary 13.9 mi Public 6-12 1 3
      Kenny Elementary School 14.1 mi Public K-5 4 0
      Cristo Rey Jesuit High School Twin Cities 14.2 mi Catholic 9-12 0 5
      Washburn Senior High School 14.2 mi Public 9-12 3 4
      Ridgeview Elementary School 14.3 mi Public K-5 5 0
      Augsburg Fairview Academy 14.4 mi Public 9-12 0 3
      Hope Academy 14.4 mi Private K-12 0 0
      Ramsey Middle School 14.5 mi Public 6-8 4 0
      Field Community 14.7 mi Public 5-8 5 0
      Learning For Leadership Charter School 14.7 mi Public K-12 0 0
      Edison Senior High School 14.9 mi Public 9-12 1 4
      Cedar Riverside Community School 15.0 mi Public K-8 1 0
      Richfield Senior High School 15.2 mi Public 9-12 1 3
      Academy Of Holy Angels 15.3 mi Catholic 9-12 0 4
      El Colegio Charter School 15.4 mi Public 9-12 0 0
      271 Metro South Abe 15.4 mi Public 9-12 0 3
      South Senior High School 15.4 mi Public 9-12 1 3
      Bethany Academy 15.5 mi Private K-12 0 0
      Yinghua Academy 15.5 mi Public K-8 5 0
      Global Academy 15.5 mi Public K-8 3 0
      Hale Elementary School 15.6 mi Public K-4 4 0
      Hillcrest Community School 15.7 mi Public PRESCHOOL-5 4 0
      Columbia Academy 15.8 mi Public 6-8 1 0
      Achieve Alp 15.8 mi Public 6-8 0 0
      Metro Schools Charter 15.8 mi Public 9-12 0 0
      Minnesota Transition High School 15.9 mi Public 9-12 1 0
      Jefferson Senior High School 15.9 mi Public 9-12 5 3
      Seward Elementary School 16.0 mi Public K-8 2 0
      Woodcrest Baptist Academy 16.0 mi Private PRESCHOOL-12 0 0
      Heritage Science & Technology 16.1 mi Public 6-12 1 4
      Fridley Senior High School 16.1 mi Public 9-12 3 3
      Friendship Acdmy Of Fine Arts Chtr. 16.1 mi Public K-6 5 0
      Columbia Heights Senior High School 16.2 mi Public 9-12 1 3
      Minnesota Online High School 16.2 mi Public 9-12 1 0
      Roosevelt Senior High School 16.3 mi Public 9-12 1 3
      Watershed High School 16.5 mi Public 9-12 2 2
      Totino-grace High School 16.7 mi Catholic 9-12 0 4
      Calvin Christian High School 16.8 mi Private 9-12 0 0
      St. Anthony Middle School 16.9 mi Public 6-8 4 0
      St. Anthony Village Senior High School 16.9 mi Public 9-12 5 4
      Wilshire Park Elementary School 17.3 mi Public K-5 4 0
      Lighthouse Elementary School 17.3 mi Public 1-12 5 0
      Minnehaha Academy Upper School 17.4 mi Private 9-12 0 4
      Kennedy Senior High School 17.4 mi Public 9-12 3 3
      Coon Rapids Senior High School 17.6 mi Public 9-12 3 3
      Spring Lake Park Senior High School 17.6 mi Public 9-12 3 4
      Seven Hills Classical Academy 17.6 mi Public K-5 5 0
      Coon Rapids Middle School 17.6 mi Public 6-8 3 0
      Northwest Passage High School 17.9 mi Public 9-12 1 0
      Blaine Senior High School 20.4 mi Public 9-12 4 3
      Roosevelt Middle School 20.7 mi Public 6-8 5 0
      Davinci Academy 21.8 mi Public K-8 5 0
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: Onboard Informatics © 2016. School Performance data by SchoolDigger.com. School Review data by Niche.com.
      Local Weather for Minneapolis, MN
        Community information and market data Powered by Onboard Informatics. Copyright ©2016 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.