$5,641 Closing Credit*
$475,000
1,903 SqFt
3 Beds
•1 Full Bath
Listing Office: RE/MAX Results
Is Big Lake, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Big Lake has remained a Seller's Market.
Key Takeaway
Big Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Big Lake, MN
How much do homes in Big Lake, MN cost?
Median Sold Price
$350,000
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$100(0.0%)
Key Takeaway
The sold price of homes in Big Lake has remained the same since last year.
Summary: The median home sold price in Big Lake was $350,000 in October 2024, the same as last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $168.4K | $205K | +21.7% |
| 2 Bedrooms | $302.4K | $298.9K | -1.2% |
| 3 Bedrooms | $350.5K | $339K | -3.3% |
| 4 Bedrooms | $370K | $365K | -1.4% |
| 5+ Bedrooms | $375K | $425K | +13.3% |
Summary: Big Lake housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.7%, 2 bedroom homes decreased by 1.2%, 3 bedroom homes decreased by 3.3%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes increased by 13.3%.
Median Sold Price Compared To Nearby Cities
| Big Lake Township | $350K | $351.6K | 0.5% |
| Big Lake | $349.9K | $350K | 0.0% |
Housing Supply in Big Lake, MN
How many homes are available in Big Lake, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 92 | 108 | +17.4% |
Summary: The Big Lake real estate market had 108 homes for sale in October 2024, a 17.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 12 | 13 | +8.3% |
| 3 Bedrooms | 29 | 36 | +24.1% |
| 4 Bedrooms | 38 | 43 | +13.2% |
| 5+ Bedrooms | 11 | 14 | +27.3% |
Summary: The Big Lake 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 increased by 8.3%, 3 bedroom homes increased by 24.1%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes increased by 27.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 25 | +47.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Big Lake, you could pay more than the asking price. 40% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in Big Lake in October 2024, up by 47.1% month-over-month. Of the 25 sold homes, 24% were sold under asking, 36% were sold at asking, and 40% were sold over asking.
Days on Market for Big Lake, MN
How long does it take to sell a home in Big Lake, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 31 Days | 25 Days | -19.4% |
Summary: Homes in Big Lake had an average of 25 days on market in Oct 2024, down by 19.4% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Big Lake are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 25 homes were sold in Big Lake; 72% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
