Mid-Year Market Update: Where We Stand

Picture it: a Saturday morning in early June, somewhere in Eden Prairie. A couple finishes their coffee, glances at the new listing that just hit the MLS, and texts their agent. By Sunday afternoon, they're writing an offer. Meanwhile, across town in Roseville, a homeowner who's been on the fence since January finally calls their agent and says: "Okay. We're ready."

That's the story the Twin Cities real estate market is quietly telling right now, and the numbers back it up.

For the week ending May 23rd, new listings in our region jumped 9.1% to 1,586 — a meaningful surge that signals sellers have shaken off the winter hesitation and are ready to make their moves. At the same time, pending sales climbed 7.2% to 1,257, telling us buyers haven't missed a beat. They've been waiting, pre-approved and patient, and they're moving quickly when the right home appears.

Inventory rose 5.9% to 10,480 homes — the highest it's been in years at this time of the season. That's good news for buyers who've been frustrated by a lack of choices, and it's meaningful context for sellers who need to understand the market they're entering.

Here's what that picture really means for our communities, whether you're in Burnsville, Lakeville, Eagan, or anywhere in the metro:

For sellers: More competition is on the way, but demand is keeping pace. The buyers are out there — active, motivated, and writing offers. The homes that are winning are the ones that are priced right and show well from day one. A well-prepared home in a desirable neighborhood is still drawing strong attention. The window is open. But preparation matters more than it did a year ago, when almost anything sold.

For buyers: This is a moment worth paying attention to. More listings mean more options and, in some cases, a little more breathing room to make a thoughtful decision. We're not in a wide-open buyer's market — not yet — but the dynamic has shifted enough that you don't have to feel like you're constantly sprinting. If you've been sitting on the sidelines, waiting for the right moment, this is worth a conversation.

The broader story here is one of balance — a market that's finding its rhythm after a few years of extremes. Rates have stabilized enough that both buyers and sellers are adjusting their expectations and making decisions. The frenzied bidding wars of 2021 and 2022 feel like a different era. The paralysis of late 2023 and early 2024 is thawing. What we're seeing now is a market that's moving again, with real people making real decisions about their lives.

So what does all this mean for you? If you've been thinking about making a move — whether that's listing the house you've outgrown, finally buying your first home, or downsizing after the kids left — the second half of 2026 is shaping up to be a real window of opportunity. Not a panic moment, not a feeding frenzy. Just a well-functioning market doing what it's supposed to do.

The question is whether you'll be ready to move when the timing is right for you.

P.S. We're officially halfway through 2026. If a move was on your list for this year and it hasn't happened yet, now is the time to make a plan — not in September.