$6,175 Closing Credit*
$520,000
1,824 SqFt
4 Beds
•2 Baths
Listing Office: MOVE IT REAL ESTATE GROUP/LAKEHOMES.COM
Is Deer 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, Deer Lake has remained a Seller's Market.
Key Takeaway
Deer Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Deer Lake, MN
How much do homes in Deer Lake, MN cost?
Median Sold Price
$431,750
$227/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$93,750(+27.7%)
Key Takeaway
Homes in Deer Lake have sold for 27.7% more than they did a year ago.
Summary: The median home sold price in Deer Lake was $431,750 in October 2024, up 27.7% from last year, and the median price per square foot was $227.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $190.7K | $425K | +122.8% |
| 2 Bedrooms | $315K | $291.7K | -7.4% |
| 3 Bedrooms | $300.5K | $427.7K | +42.3% |
| 4 Bedrooms | $367.5K | $550K | +49.7% |
| 5+ Bedrooms | $895K | $632.5K | -29.3% |
Summary: Deer Lake housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 122.8%, 2 bedroom homes decreased by 7.4%, 3 bedroom homes increased by 42.3%, 4 bedroom homes increased by 49.7%, and 5+ bedroom homes decreased by 29.3%.
Median Sold Price Compared To Nearby Cities
| Cohasset | $287.5K | $395K | +37.4% |
| Deer Lake | $338K | $431.7K | +27.7% |
| Deer River Township | $245.5K | $235K | -4.3% |
Housing Supply in Deer Lake, MN
How many homes are available in Deer Lake, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 18 | -5.3% |
Summary: The Deer Lake real estate market had 18 homes for sale in October 2024, a 5.3% 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 | 5 | 3 | -40.0% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Deer 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 decreased by 40%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Deer Lake, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Deer Lake in October 2024, the same as the previous month. Of the 5 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.
Days on Market for Deer Lake, MN
How long does it take to sell a home in Deer Lake, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 72 Days | +110.3% |
Summary: Homes in Deer Lake had an average of 72 days on market in Oct 2024, up by 110.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Deer Lake are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in Deer Lake; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
