MN Market Basics
This is the most popular type of residential property sold in Minnesota.
What is a single-family home?
Agents in Minnesota must complete this many hours of continuing education every license cycle.
What is 30 hours?
The Minneapolis skyline’s tallest building, the IDS Center, opened in this decade.
What is the 1970's?
This Minneapolis lake—part of the Chain of Lakes—is the most visited in the state.
What is Lake Bde Maka Ska?
Some sellers bury this small statue of a saint in the yard, hoping it helps the home sell faster.
What is St. Joseph?
This Twin Cities suburb consistently ranks among the highest-demand markets due to schools, lakes, and community vibe.
What is Woodbury?
This document gives the listing broker the right to represent a home seller exclusively.
What is Exclusive Right-to-Sell ?
Built in 1910, this iconic St. Paul mansion was once the largest private home in Minnesota, boasting 36,000 square feet.
What is the James J. Hill House?
This St. Paul avenue, lined with historic mansions, includes the Governor’s Residence.
What is Summit Ave?
Buyers sometimes think leaving one of these items on during showings brings “good energy” to the house—especially the fall-scented ones.
What is a Candle?
This month typically sees the highest number of new listings in Minnesota.
What is May?
This Minnesota form is used when a buyer wants to view a listed property without being represented by an agent.
What is the One-Time Showing Contract?
Minnesota’s first large-scale suburban shopping center—built in 1956 and a catalyst for surrounding housing growth>
What is Southdale Center?
Travelers flying into the Twin Cities and shoppers visiting the Mall of America both pass through this suburb.
What is Bloomington?
A few Minnesota sellers believe that baking these before a showing makes buyers feel “at home,” even if the agent knows it's staged.
What are cookies?
This MN law requires sellers to disclose “all material facts” that could affect a buyer’s use or enjoyment of a property.
What is Seller's Property Disclosure?
When a buyer’s purchase is dependent on selling their current home first, this MN form must be attached to the Purchase Agreement.
What is the Sale of Buyer’s Property Contingency Addendum?
The average MN home price first passed $300,000 in this year.
What is 2021?
This city sits at the north end of Interstate 35E and borders White Bear Lake, Vadnais Heights, and North Oaks.
What is Lino Lakes?
Some buyers choose closing dates based on numerology, avoiding this famously unlucky number.
What is 13?
This market trend phrase describes low inventory and high buyer competition, common in MN from 2020–2023.
What is a seller's market?
Under Minnesota statute, a licensee must present all written offers to their client promptly, and must keep a copy of every rejected offer for this minimum number of years.
What is 6 years?
This Minnesota suburb, developed in the 1950s as a private master-planned community, is one of the earliest of its kind in the U.S.
What is North Oaks?
This suburb spans sections of three different school districts—Wayzata, Osseo, and Robbinsdale—making boundary questions especially tricky for homebuyers.
What is Plymouth?
This citrus fruit is sometimes left in kitchens to symbolize “fresh starts” and attract positive energy.
What is a lemon?