$5,936 Closing Credit*
$499,900
2,438 SqFt
4 Beds
•2 Full Baths
Listing Office: Century 21 Brainerd Realty
Is Lake Edward Township, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Lake Edward Township was a Seller's Market.
Key Takeaway
Lake Edward Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lake Edward Township, MN
How much do homes in Lake Edward Township, MN cost?
Median Sold Price
$387,500
$251/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$47,500(-10.9%)
Key Takeaway
Homes in Lake Edward Township have sold for 10.9% less than they did a year ago.
Summary: The median home sold price in Lake Edward Township was $387,500 in October 2024, down 10.9% from last year, and the median price per square foot was $251.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $315K | $381K | +21.0% |
| 2 Bedrooms | $183.5K | $290K | +58.0% |
| 3 Bedrooms | $435K | $400K | -8.0% |
| 4 Bedrooms | $645.2K | $550K | -14.8% |
| 5+ Bedrooms | $397.5K | $615K | +54.7% |
Summary: Lake Edward Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21%, 2 bedroom homes increased by 58%, 3 bedroom homes decreased by 8%, 4 bedroom homes decreased by 14.8%, and 5+ bedroom homes increased by 54.7%.
Median Sold Price Compared To Nearby Cities
| Center Township | $379.9K | $445K | +17.1% |
| Nisswa | $617.4K | $590K | -4.4% |
| Merrifield | $447.5K | $425K | -5.0% |
| Lake Edward Township | $435K | $387.5K | -10.9% |
Housing Supply in Lake Edward Township, MN
How many homes are available in Lake Edward Township, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 18 | +12.5% |
Summary: The Lake Edward Township real estate market had 18 homes for sale in October 2024, a 12.5% increase 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 | 2 | 0 | -100.0% |
| 3 Bedrooms | 6 | 7 | +16.7% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Lake Edward 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 decreased by 100%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 1 | -80.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Edward Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Lake Edward Township in October 2024, down by 80.0% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Lake Edward Township, MN
How long does it take to sell a home in Lake Edward Township, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 92 Days | 148 Days | +60.9% |
Summary: Homes in Lake Edward Township had an average of 148 days on market in Oct 2024, up by 60.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Lake Edward Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 1 homes were sold in Lake Edward Township; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
