First-Time Homebuyers: What You Need to Know in Today’s Twin Cities Market

Posted by UrbanMinneapolisHomes.com

First-time homebuyer holding keys in front of a house

Image credit: Unsplash

Why First-Time Buyers Need a Smart Game Plan in 2025

Buying your first home is a big deal—especially in a market like the Twin Cities, where affordability, inventory, and mortgage rates are all moving targets. Whether you're looking in Minneapolis, St. Paul, or the surrounding suburbs, here's what first-time buyers should be thinking about right now.

1. Know the Numbers: What Homes Cost Right Now

  • Median Home Price (Twin Cities): Around $360,000
  • Monthly Mortgage (with 7% interest, 5% down): ~$2,600/month
  • Average Days on Market: 37 days – homes are still moving fairly quickly

Home prices…

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May 2025 Housing Market Recap – What the Numbers Mean for Minneapolis Buyers & Sellers

Posted by UrbanMinneapolisHomes.com

Source: Minnesota Realtors®

Market Snapshot for May 2025

This spring’s market dynamics continue to evolve in Minnesota. Whether you’re planning to buy or sell in Minneapolis, the latest data from the Minnesota Association of REALTORS® offers key insights.

  • Median Sales Price: $359,900 – a 2.8% increase year-over-year [oai_citation:0‡mnrealtor.com](https://www.mnrealtor.com/blogs/mnr-news1/2025/06/16/may-2025-housing-report?utm_source=chatgpt.com)
  • Days on Market: Homes are selling in just 37 days on average – 10.1% faster than last year
  • Active Listings: Inventory is up 10.1% compared to May 2024
  • Closed Sales:…

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Why Now Might Be the Right Time to Explore Minneapolis Condos

Why Now Might Be the Right Time to Explore Minneapolis Condos

Whether you’re a first-time buyer, an empty nester, or simply ready to trade yard work for skyline views, the Minneapolis condo market offers an exciting mix of lifestyle, value, and long-term potential. As inventory continues to shift post-pandemic and new developments reshape our urban core, there’s never been a better time to get smart about your options.

What’s Happening in the Minneapolis Condo Market?

Condo inventory in Minneapolis remains relatively strong compared to single-family homes. While other segments of the Twin Cities real estate market are still dealing with low supply, downtown and surrounding…

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Thinking About Selling? Here's How to Prepare Your Home for the Market

Selling your home is a big decision—and one that requires careful planning. Whether you're looking to upgrade, downsize, or relocate, getting your property ready for market is one of the most important steps to ensure a successful sale. Here are some key things to do before that “For Sale” sign goes up in your yard.

1. Declutter and Depersonalize

Buyers want to envision themselves living in your space, and that’s hard to do when your home is filled with personal items. Remove family photos, excessive decorations, and anything that distracts from the home’s features. Less clutter also makes rooms feel larger and more inviting.

2. Make Minor Repairs

Fix that leaky faucet,…

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Summer 2025: Top Twin Cities Running & Biking Events

Summer in the Twin Cities is the perfect time to explore local trails, lakes, and parks by foot or bike. From family-friendly rides to competitive races, here are some must-attend endurance events this summer.

Running Events

1. Utepils Trail Loppet – Theodore Wirth Park

  • Date: Sundays (check website for exact dates, e.g., June or July)
  • Distances: 5K, 10K, and Half Marathon trail races with finishes at Utepils Brewing
  • Why go: Unique urban-trail experience, live music & a celebratory drink at the finish [oai_citation:0‡streets.mn](https://streets.mn/2025/04/23/must-do-bike-rides-in-2025/?utm_source=chatgpt.com)

2. Medtronic Twin Cities Marathon Weekend

  • Dates: October 3–5,…

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Minneapolis Real Estate Market Update – May 2025

The Minneapolis housing market is experiencing notable shifts this spring, influenced by evolving buyer demand, policy changes, and broader economic factors. Here's a comprehensive look at the latest developments:

Market Trends: Inventory Growth and Price Adjustments

As of mid-May, Minneapolis has seen a 6.32% month-over-month increase in active listings, totaling 1,245 properties. The median list price stands at $325,000, reflecting a 2.84% decrease from the previous month. Homes are spending an average of 54 days on the market, indicating a slight cooling compared to earlier in the year.

Despite higher mortgage rates—hovering around 7%—buyer activity remains steady, with a 1.8% increase in…

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