Twin Cities Duplex Sales Hit A Three-Year High, But Sellers Have Company

If you’ve been waiting for a sign that the Twin Cities duplex, triplex, and fourplex market has any signs of momentum again, June delivered. Ninety-five properties changed hands last month, the strongest sales month since 2023.

Sales weren’t the only number setting high marks. Active listings closed the month at 427. That’s the most in more than a decade. In other words, buyers came back in force, and so did sellers.

Ninety-five small multifamily properties sold across the metro in June, the best single month since 2023. After a stretch of sluggish activity, that’s a meaningful signal that buyers may be starting to come off the sidelines.

While total active listings are high, the number of new listings actually slowed a bit, with 175 new properties hitting the market. This was down from May’s 204.

The combination of increased sales and a slowing of new listings resulted in a four-month supply of inventory. This is still considered a seller-favorable to balanced range for most housing categories, but 427 active listings is enough to also offer buyers a bit more of an opportunity to shop.

That doesn’t mean sellers had to take a beating when it came to prices. The monht’s average sales price came in at $429,791, with a median of $405,000. Sellers walked away with 98.5% of their original list price on average. While this is down from 100% one year ago, it’s nonetheless  a strong number that shows this isn’t a market where buyers are dictating terms yet, even with more inventory to choose from.

Average days on market rose to 40 in June, up from 37 in May, 33 in June 2025, and just 18 in June 2021. That’s a five-year trend moving in one direction. Properties are taking longer to sell than they used to, even in a month with record sales volume.

Cumulative days on market tells a slightly different story. Average cumulative DOM actually improved, dropping to 58 from May’s 64. Median cumulative DOM fell more sharply, down to 29 from May’s 44. That’s still above the 26 days this market saw in June of last year.

All this suggests properties that are priced and positioned correctly are still moving. — the median cumulative number improving month-over-month backs that up. But the longer-term climb in average days on market, especially compared to 2021’s 18-day pace, is a reminder that this is no longer an environment where any listing sells itself.

In all, June proved there is still demand for duplexes, triplexes and fouplexes. However, the increase in active listings means the easy part may be over. For the rest of 2026, the properties that perform will likely be those priced right and presented well from day one, not the ones that simply wait for a buyer to show up.