by Calculated Risk on 2/12/2021 02:08:00 PM

From the MNRealtor for the entire state:

Closed sales in January 2021 were 4,789, up 16.2% from 4,120 in January 2020.

Active Listings in January 2021 were 7,860, down 48.3% from 15,213 in January 2020.

Months of Supply was 1.0 Months in January 2021, compared to 2.1 Months in January 2020.

Click on graph for larger image.

This graph from the Minnesota Association of REALTORS® shows inventory in Minnesota and 2012. Inventory had been trending down, and then declined significantly during the pandemic.