Why Are There More Homes for Sale Right Now? What We're Seeing in the Twin Cities

If you've been watching the housing market lately, you may have noticed more homes available for sale. Interestingly, the reason isn't simply that more homeowners are listing their properties. Homes are also taking longer to sell.

With mortgage rates recently climbing above 7%, some buyers are putting their plans on hold. As homes remain on the market longer, inventory builds, giving buyers more choices and creating additional competition for sellers.

We're seeing these changes right here in the Twin Cities, and the latest housing market statistics tell an interesting story.

What the Latest Twin Cities Housing Market Statistics Tell Us

According to the September 2026 report from the Saint Paul Area Association of Realtors, here's how our local market compares to September 2025:

• 11.2% more homes for sale, with 12,411 active listings.
• 3% more new listings, meaning more homeowners are putting their properties on the market.
• 11.7% fewer pending sales, showing a slowdown in new buyer contracts.
• 48 average days on market, compared to 44 days last year.
• 1.3% increase in the median sales price, now at $395,000.

What stands out to us is the difference between the increase in new listings and the increase in total inventory. New listings rose just 3%, yet inventory increased more than 11%.

This tells us that slower sales are playing a significant role in the growing number of available homes.

Despite this shift, home prices have continued to increase modestly across the metro. Buyers have more choices, but that doesn't necessarily mean home values are falling.

Our Perspective: Pricing and Positioning Matter More Than Ever

After more than two decades of helping homeowners throughout the Twin Cities, we've learned that one of the most important decisions a seller makes is how to price their home.

When inventory was extremely low, sellers could sometimes get away with aggressive pricing because buyers had limited options. Today's buyers can compare more properties and are paying closer attention to condition, updates, and overall value.

Another interesting statistic from September is that sellers received an average of 97.7% of their original asking price, compared to 98.4% last year.

While that may seem like a small difference, it reinforces the importance of pricing a home correctly from the beginning.

Our team places a strong emphasis on evaluating the competition, preparing a home for sale, and positioning it to attract the most buyer interest during those important first few weeks on the market.

We want our sellers to be in the strongest negotiating position possible, rather than having to make repeated price reductions after their home has been sitting on the market.

Buyers Have More Opportunities to Negotiate

For buyers, additional inventory can create opportunities that were harder to find just a few years ago.

With more homes available and properties taking longer to sell, buyers may have opportunities to negotiate:

• Lower purchase prices.
• Seller-paid closing costs.
• Mortgage rate buydowns.
• Repairs or concessions following an inspection.
• More favorable closing dates and terms.

One strategy we use is identifying properties that have been on the market longer than similar homes. These properties can sometimes present excellent opportunities, particularly when sellers are motivated.

Of course, well-priced homes in desirable neighborhoods can still attract strong interest and multiple offers. Understanding where negotiating opportunities exist requires looking beyond the overall market statistics.

The Market Isn't the Same in Every Twin Cities Community

This is where local market knowledge becomes especially valuable. Although inventory increased 11.2% across the Twin Cities, the changes vary considerably by community.

For example, comparing September 2026 with September 2025:

• Shoreview: Inventory increased 18.8%.
• Lino Lakes: Inventory increased 19.4%.
• Andover: Inventory increased 26.8%.
• Blaine: Inventory decreased 4.5%.
• White Bear Lake: Inventory decreased 20.3%.

These differences help explain why we can't apply one pricing or negotiating strategy to every property. Even within the same community, market conditions can vary depending on the price range, property type, condition, and neighborhood.

Our team evaluates these factors when advising clients because understanding the competition is one of the most important parts of a successful real estate transaction.

What About Homeowners Who Want to Buy and Sell?

We believe the changing market may offer some interesting opportunities for homeowners considering their next move. Many homeowners have built substantial equity, but have delayed moving because they were concerned about finding their next home.

With more properties available, buyers may have additional options and opportunities to negotiate on their purchase. However, selling their current home still requires careful planning.

That's why we developed our Home Move Plan.

We help homeowners evaluate their equity, understand the financial considerations, and explore options for buying first versus selling first. We also help coordinate the timing, preparation, and logistics involved in making a move.

Having a plan before you begin can make the entire process much easier.

The Bottom Line: Your Strategy Needs to Match Today's Market

The Twin Cities housing market is still active, with thousands of homes selling each month. However, buyers have become more selective, homes are taking longer to sell, and sellers are facing additional competition. The strategies that worked during the extremely competitive housing market a few years ago may not produce the same results today.

At the Sandy Erickson Real Estate Team, we believe experience, preparation, and a thorough understanding of local market conditions make a meaningful difference. Whether you're considering buying, selling, or both, we'd be happy to help you understand what's happening in your neighborhood and how to make the market work for you.

Thinking about making a move? Let's put together a personalized Home Move Plan to explore your options and develop a strategy that fits your goals.

Contact the Sandy Erickson Real Estate Team at www.mnpropertiesforsale.com.

Source: Saint Paul Area Association of Realtors, September 2026 Monthly Indicators. Data provided by NorthstarMLS.