$4,144 Closing Credit*
$349,000
672 SqFt
2 Beds
•1 Bath
Listing Office: Kurilla Real Estate LTD
Is Bay Lake Township, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Bay Lake Township has remained a Seller's Market.
Key Takeaway
Bay Lake Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bay Lake Township, MN
How much do homes in Bay Lake Township, MN cost?
Median Sold Price
$1,023,000
$512/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$726,000(+244.4%)
Key Takeaway
Homes in Bay Lake Township have sold for 244.4% more than they did a month ago.
Summary: The median home sold price in Bay Lake Township was $1,023,000 in October 2024, up 244.4% from last month, and the median price per square foot was $512.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $297K | - | N/A |
| 3 Bedrooms | $329K | $1.0M | +211.6% |
| 4 Bedrooms | - | $1.0M | N/A |
| 5+ Bedrooms | $240K | $420K | +75.0% |
Summary: Bay Lake Township housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 211.6%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 75%.
Median Sold Price Compared To Nearby Cities
| Deerwood Township | $245K | $939K | +283.3% |
| Bay Lake Township | $297K | $1.0M | +244.4% |
| Hazelton Township | $306.6K | $434.5K | +41.7% |
| Nokay Lake Township | $675K | $358.9K | -46.8% |
Housing Supply in Bay Lake Township, MN
How many homes are available in Bay Lake Township, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 22 | 18 | -18.2% |
Summary: The Bay Lake Township real estate market had 18 homes for sale in October 2024, a 18.2% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 9 | 6 | -33.3% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Bay Lake Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +40.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bay Lake Township, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Bay Lake Township in October 2024, up by 40.0% month-over-month. Of the 7 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.
Days on Market for Bay Lake Township, MN
How long does it take to sell a home in Bay Lake Township, MN?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 78 Days | 13 Days | -83.5% |
Summary: Homes in Bay Lake Township had an average of 13 days on market in Oct 2024, down by 83.5% compared to last month.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bay Lake Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 7 homes were sold in Bay Lake Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
