Zillow Predicts Home Prices Will Drop In These 10 Minnesota Cities

Luck was on my side when I bought my house a decade ago. We got to check it out a few hours before it officially hit the market and immediately made an offer that got accepted. What's even more unusual is that we paid the listing price – a rarity for anyone attempting to buy a house in Minnesota during the past ten years.

The real estate scene here has been wild, with home prices shooting up and properties selling like hotcakes. Most homes are off the market within a day or two, and many sell for way above their listing prices. Zillow is predicting a change in 2024 which could be great news for homebuyers.

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Zillow Predicts "More homes for sale, improved affordability in 2024."

This could be big news for potential buyers who've been held back by the escalating costs. According to the real estate website, home prices might drop in several cities across Minnesota.

Zillow says, "More homes on the market — even the gradual increase Zillow economists expect — would be good news for home buyers, spreading demand and easing upward pressure on prices."

Zillow Predicts Home Prices Will Drop In These 10 Minnesota Cities

Marshall, MN: Projected 3.5% drop by November

Minneapolis, MN: Projected 3% drop by November

New Ulm, MN: Projected 2.8% drop by November 

Rochester, MN: Projected 2.1% drop by November

Mankato, MN: Projected 1.7% drop by November 

Red Wing, MN: Projected 1.4% drop by November 

Faribault, MN: Projected 1.3% drop by November

Winona, MN Projected 1.2% drop by November 

Worthington, MN: Projected 1% drop by November

St. Cloud, MN: Projected 0.9% drop by November

If you can wait a bit to buy, it might be worth it. Now, if you're considering a move to a different city, you'll want to pick one with ample opportunities. Check out the ten Minnesota cities that are currently seeing a rise in both population and economic activity below.