Is Lake County, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake County is a neutral'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

# BEDSSep 2024Oct 2024CHANGE
1 $350K$212.5K
-39.3%
2 $203K$550K
+170.9%
3 $175K$180K
+2.9%
4 $655K-
N/A
5+ --
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
+26.4%
Cook County
-4.2%

Housing Supply in Lake County, MN

How many homes are available in Lake County, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
8794+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

# BEDSSep 2024Oct 2024CHANGE
1 910
+11.1%
2 2733
+22.2%
3 4039
-2.5%
4 77
0.0%
5+ 45
+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 2024Oct 2024CHANGE
1015+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

Asking vs Sold - buyer

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 2024Oct 2024CHANGE
29 Days21 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

Breakdown of Home Sale Times

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in Lake County, MN

Nearby Markets to Lake County, MN

What housing markets are near Lake County, MN?