$10,000 Closing Credit*
$1,300,000
3,582 SqFt
3 Beds
•2 Full Baths, 1 Partial
Sue Bott, Listing Office: RE/MAX Professionals - Two Harbors
Is Lake County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Lake County was a Buyer's Market.
Key Takeaway
Lake County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Lake County, MN
How much do homes in Lake County, MN cost?
Median Sold Price
$230,000
$260/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$48,000(+26.4%)
Key Takeaway
Homes in Lake County have sold for 26.4% more than they did a month ago.
Summary: The median home sold price in Lake County was $230,000 in October 2024, up 26.4% from last month, and the median price per square foot was $260.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $350K | $212.5K | -39.3% |
| 2 Bedrooms | $203K | $550K | +170.9% |
| 3 Bedrooms | $175K | $180K | +2.9% |
| 4 Bedrooms | $655K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Lake County housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes decreased by 39.3%, 2 bedroom homes increased by 170.9%, 3 bedroom homes increased by 2.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Counties
| Lake County | $182K | $230K | +26.4% |
| Cook County | $480K | $460K | -4.2% |
Housing Supply in Lake County, MN
How many homes are available in Lake County, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 87 | 94 | +8.0% |
Summary: The Lake County real estate market had 94 homes for sale in October 2024, a 8.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 10 | +11.1% |
| 2 Bedrooms | 27 | 33 | +22.2% |
| 3 Bedrooms | 40 | 39 | -2.5% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Lake County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 22.2%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 15 | +50.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake County, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Lake County in October 2024, up by 50.0% month-over-month. Of the 15 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Lake County, MN
How long does it take to sell a home in Lake County, MN?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 21 Days | -25.1% |
Summary: Homes in Lake County had an average of 21 days on market in Oct 2024, down by 25.1% compared to last month.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 15 homes were sold in Lake County; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
