Twin Cities Market Update: August 2026

If you have been watching the Twin Cities market this year, you have probably felt the shift. After several years where sellers held almost all the leverage, 2026 is looking more balanced. Here is an honest read on where things actually stand heading into late summer, and what it means whether you are buying or selling.

Where prices stand

Price growth has cooled. Across the metro, values are up only modestly from a year ago, generally in the low single digits, and some pockets are essentially flat. The double digit jumps of a few years back are gone. For context, the median sale price across the broader metro has been sitting in the high three hundred thousands, though that figure varies widely by city and by property type. This is not a market that is falling. It is a market that has stopped sprinting.

Inventory is finally loosening

The bigger story is supply. Active listings are up meaningfully compared with a year ago, and months of supply has climbed into the range of roughly two and a half to three months. That is still short of the four to six months economists consider truly balanced, so sellers have not lost their edge entirely, but buyers have more to choose from than they have had in a long time. Fewer bidding wars, more room to negotiate, and less pressure to waive every contingency to get an offer accepted.

Homes are taking a little longer to sell

A year ago, a well priced home might go in under forty days. Now the typical listing is taking closer to the high forties or low fifties. The takeaway has not changed: price it right and a good home still moves quickly. Overprice it and it will sit, and buyers notice a stale listing fast.

What this means if you are buying

You have leverage you did not have a couple of years ago. Take the time to tour properly, ask for repairs, and negotiate on price. Get pre approved first so you can move decisively when the right home appears, because the best listings still get attention. And do not let a slightly higher rate scare you off a home you love. You can always refinance later, but you cannot go back and buy the house you passed on.

What this means if you are selling

Pricing is everything right now. The homes that sell quickly and near asking are the ones priced to the market from day one, not the ones that start high and chase the market down week after week. Presentation matters more than it did when buyers had no choice. Clean, staged, well photographed homes still command attention and strong offers. Start with an honest valuation based on what is actually selling on your block, not what your neighbor listed at last spring.

The west metro is its own story

Zoom into the lake communities and the picture changes. Places like Excelsior, Wayzata, Orono, and Deephaven still see very little inventory, and anything well located near Lake Minnetonka can still draw real competition. Newer construction markets like Shakopee, Victoria, and Maple Grove offer more choice and better value per square foot. The metro average never tells the whole story. Your neighborhood, and sometimes your specific street, has its own market.

The bottom line

2026 is the most balanced Twin Cities market in years. Buyers finally have breathing room. Sellers can still do very well, but only with realistic pricing and genuine preparation. If you want to know what any of this means for your specific situation or your specific address, that is exactly the conversation I am here for.

Market figures referenced here are drawn from monthly reporting by Minneapolis Area REALTORS® and Redfin and reflect the broader Twin Cities metro. Conditions vary by city, price range, and property type. This update is refreshed monthly.