Howe currently leans toward sellers, with the market gauge signaling a seller’s market. Months of supply sit at just 1.8 in this rolling three-month view, well below a balanced level. Compared with Minneapolis overall at 3.4 months of supply, Howe is notably tighter.
Prices show steady upward pressure. The typical home value in this period is about $374,000, up modestly year over year, while the median list price has climbed more than it did citywide. Even with that price growth, homes are still moving quickly at a median of 13 days on market, although that is longer than a year ago, suggesting buyers have a bit more breathing room than they did last spring.
Underlying activity points to limited options and strong demand. Homes sold over the past three months are down sharply from a year earlier, and new listings have also dropped, which helps explain why inventory is tight despite some increase in active listings. At the same time, nearly 63 percent of recent sales closed above list price and the average sale-to-list ratio is above 103 percent, showing many buyers are still bidding up desirable homes. With this mix of rising prices, fast sales, and constrained supply, both buyers and sellers in Howe can benefit from an Agent Pronto–recommended real estate professional to navigate the market and negotiate effectively.
