April year-over-year summary of key market indicators:
- Closed sales decreased 10.9% to 6,444
- Median sales price increased 11.5% to $340,000
- Average sales price increased 12.6% to $388,667
- New listings decreased 6.7% to 9,814
- Pending sales decreased 9.5% to 8,124
- Days on the market decreased 16.7% to 30 days
- Homes for sale decreased 9.6% to 8,567
Closed Home Sales Across Minnesota by Region
In April, closed sales declined in 12 out of 13 regions compared to a year ago, bringing Minnesota’s average number of closed home sales down 10.9% year over year. Only one region reported an increase: Southwest Central at 3.6%. The smallest declines were seen in Southeast at 7.3%, 7-County Twin Cities at 8.5%, and Southwest at 8.9%. The largest declines were reported in South Central at 19.8%, Headwaters at 22.9%, and West Central at 28.6%. See the chart below for more details comparing closed home sales for April 2022 to April 2021.