Suburban Duplex Sellers Take Note: Prices Rise Sharply Even as Days on Market Stretch

The Twin Cities suburbs have a distinctive market for duplexes, triplexes and fourplexes.

Like St Paul, they contribute approximately 25% of the area’s annual small multifamily activity.  However, because they are relatively rare and spread ac

ross such a wide geographical area, they tend to have their own market.  For example, if you live in Eden Prairie and want to buy a duplex there, you may have to wait a while for one to become available.

This means the suburban market often differs from Minneapolis and St. Paul. And yet, in July, the suburbs had a 4-month supply of duplexes, triplexes, and fourplexes available to purchase. That’s the same as Minneapolis. Both are in seller’s market territory, but at the weaker end of the spectrum. I don’t know what it means, but it hasn’t been the case in quite some time.

The greater metro saw 36 new listings in July. That’s a 44% increase over June of this year and July of 2025. The hidden good news is it just a 12.5% increase from July 2021, which was generally regarded as a seller’s market. Overall supply, however, was nearly double that of 2021, jumping to 70 properties available to buy over 38.

An 8 bedroom, 4 bathroom fourplex in Crystal topped the new offerings at $670,000. A house conversion with 3 bedrooms and 2 bathrooms

The biggest difference between 2021 and now, however, is sales. Thirty-seven properties sold in July 2021. Last month, there were 19. And actually, that’s normal. In July of 2016, there were 17; in 2025, the total was also 17; and last month, there were 20. So in this case, July of ’21 is the outlier.

These 19 transactions helped create an average sales price of $514,757 and a median of $550,000.  These represent year-over year increases of 13% and 21.3%.

The month’s high seller was a townhouse-style New Hope fourplex with a  total of 8 bedrooms, 4 bathrooms, separate two-car garages for each tenant, which closed for $865,000. A Norwood/Young American triplex with 4 bedrooms and 3 bathrooms offered a small-town value-add play at $235,000.  Bloomington and South St Paul saw the most transactions of any suburb, with 2 each.

These properties took more time to sell this year than last. On average, they spent 49 days on the market before selling, and a median of 19. The message is half were priced exactly right and sold quickly, while others were less precise in their listing strategy and lingered on the market. This was also true of those who canceled and relisted before selling. The average number of cumulative days on market for the month jumped to 63; up from 44 year-over-year.  Median cumulative days finished at an average of 63, up from 44 last year. The median cumulative days tally finished at 22, down from last year’s 38.

As we move into a more normal rhythm of life that comes with the fall, it’s likely the suburban duplex market will continue to carve its own path.