What's the average days on market for $1M+ homes in the Twin Cities?
The $1M+ segment in the Twin Cities typically takes longer to sell than the broader market — often several weeks to a couple of months — but that average hides the real story.
A move-in-ready home on Lake Minnetonka? It can go in 14 days with multiple offers. A dated $1.2M Tudor in Edina that needs updating? It might sit 90 days.
The luxury tier doesn't move like the rest of the market. Here's what I tell my clients:
**1. Pricing precision matters more than ever.**
Overprice by 5% at this level and you're invisible for 30 days. Underprice and buyers wonder what's wrong.
**2. Condition is non-negotiable.**
At $1M+, buyers expect move-in ready. If it needs work, price it accordingly or fix it first.
**3. The right buyer pool is smaller.**
Fewer buyers means fewer showings but more serious ones. Patience pays off here.
**4. Season matters less at this price point.**
Luxury buyers don't move on school schedules. They move when the right home appears.
The key? Don't chase the average. Price right, present well, and wait for the right buyer — not just any buyer.
I wrote this answer, and I stand behind it. I'm Chris Deutsch, a Minneapolis Realtor (MN #20382264). Twenty-five years of walking these neighborhoods, checking basements, and sitting across kitchen tables from people making exactly this call. I re-check every answer and date it — this one was last verified .
If your situation is more specific than the market, that's the one worth talking through. Email me at chris@lakesarearealty.com.