Twin Cities Suburbs Offer More Opportunities
Suburban Twin Cities duplex buyers who’ve had a hard time finding something to buy got good news in January, as new listings rose 209% year over year.
Yes, that sounds like a lot. Statistics can do that. Objectively, there were 23 this January, more than twice the 11 of one year ago.
The total number of listings for the month also rose: to 44 from 28 last year. This was also up from December’s 39 active suburban listings.
New Hope made a substantial contribution to new inventory, chipping in 5 new listings. Columbia Heights and Hopkins tied for second with 2 each. A townhome-style New Hope fourplex with 8 bedrooms and 4 bathrooms listed for $929,000. A New Prague 5-bedroom, 2-bathroom house conversion offered a small-town investment opportunity at $299,000.
Sellers got good news, too in January. Sixteen sellers successfully closed on the sales of their properties at an average of 97.3% of their original asking price. This was also up slightly from last year’s 14 sellers. However, sellers in January of 2025 fared slightly better on how the sold price compared to the original asking price, at 98.1%.
The month also saw sellers gain in sales price. The $451,275 median sales price was a 3.1% increase from one year ago. Suburban sold properties moved a little better year over year as well. The median number of days a sold property stayed on the market was 32, down 4 from one year ago. Cumulative days on market (CDOM) also saw a drop from 48 to 37.
Of the 16 properties that sold, 3 came from South St Paul, with St Louis Park finishing in second place with 2. St Louis Park also produced the market topper. An 8 bedroom, 4 bathroom turnkey fourplex closed at $945,000. A split entry South St Paul duplex with 4 bedrooms and 2 bathrooms was the value of the month, closing at $300,000.
The suburbs have been hot the last several years, and inventory hard to find. Spring will tell us whether January’s influx of inventory was an isolated incident, or foreshadow a welcome increase in inventory for 2026.