Why Nearly 1% of Hennepin County Homes Didn’t Sell in Q1

Did you know that nearly 1% of all new listings in the first quarter of 2025 didn’t sell here in Hennepin County, Minnesota?

Now, 1% might not sound like much, but just in March, that translates into 172 homes that were on the market and expired. That’s 172 homeowners who thought they were going to sell their home but ended up disappointed when their listing didn’t close. Their contract with the Realtor ended, and their home didn’t sell—what we call an Expired Listing. And this number only includes single-family homes, condos, and townhouses. If we also looked at multi-family and commercial properties, the percentages might be even higher.

In this article, we’ll break down this statistic to see how many listings expired each month so far in Q1, explore current market trends in Minnesota, and provide insights for sellers to help others avoid becoming part of this statistic.

 

Expired Listings Breakdown for Q1 2024 vs. Q1 2025

 

Here’s how the expired listings have stacked up in both 2024 and 2025:

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2025:

  • March: 172 expired listings (out of 22,077 new listings) — .78%

  • February: 174 expired listings (out of 21,909 new listings) — .79%

  • January: 286 expired listings (out of 21,982 new listings)  — 1.3%

 

On average that's .96% — nearly 1%

 

2024:

  • March: 178 expired listings (out of 21,064 new listings) — .84%

  • February: 164 expired listings (out of 20,931 new listings) — .78%

  • January: 190 expired listings (out of 20,387 new listings) — .93%

 

On average that's .91% which is very similar to 2025.

 

What Does This Mean?

 

Looking at these numbers, we can see that expired listings in 2025 are running higher than they were in 2024, particularly in January. In January 2025, for example, we saw 286 expired listings—more than 50% higher than in January 2024, which had 190 expired listings. This highlights the importance of staying proactive in the listing process, especially when the market is experiencing these types of fluctuations.

 

Why January Was So High..


One possible reason January 2025 saw a spike in expired listings is the overall uncertainty in the market at the start of the year. With a new presidential administration taking office, many buyers and sellers paused to see how potential policy changes might impact interest rates, taxes, or the economy. This hesitation often leads to slower activity, fewer showings, and listings sitting longer—ultimately causing some to expire before they sell.

 

The Realities of the Market

 

There are a lot of Realtors out there, especially since the market has been strong for the last 5+ years. It's been easier than ever to get a real estate license and jump into the business. A common misconception—whether you're an agent or a homeowner thinking about listing—is that since we’ve been in such a strong seller’s market, you just need to put the house on the MLS and wait. People think it’ll sell fast and don’t put much effort into the listing. They believe nothing else matters except getting the home on the MLS.

But I’m here to tell you—there’s so much more that goes into listing a home for sale. And with the growing percentage of expired listings, it matters now more than ever.

 

What is an Expired Listing?

 

An expired listing happens when a Realtor has a contract with a seller to list their home on the MLS, but the home doesn’t sell before the contract ends. Whether the contract is for 2 months or 6 months, if the home doesn’t sell in that time frame, the listing expires. At that point, the homeowner no longer has agent representation, and their home is no longer listed for sale on the MLS.

 

Why Does This Happen?

 

Like I mentioned earlier, too many people think that in a strong seller’s market, a house will sell no matter what. But that’s not the case. A successful listing experience involves a lot more than just posting it online and hoping for the best.

It starts with high-effort preparation—helping clients make a list of home preparation steps, figuring out how to make the home stand out, maximizing its condition to get the highest possible price, cleaning, staging (even with personal items), and doing low-cost upgrades that make a big impact when it’s time to sell. Stay tuned for more articles on these topics soon!

 

Why is This Important to Know?

 

Understanding why listings expire can help you avoid those same mistakes and set you up for a successful sale. Selling your home isn’t just about listing it—it’s about positioning your home to stand out in the market, working with an agent who understands the details, and making sure that every step is taken to get the best offer possible.

 

**All data was complied from Northstar MLS and InfoSparks in May 2025