$1,176 Closing Credit*
$99,000
999 SqFt
2 Beds
•1 Full Bath
Listing Office: Reed Realty
Is Lake of the Woods County, 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, Lake of the Woods County has remained a Seller's Market.
Key Takeaway
Lake of the Woods County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake of the Woods County, MN
How much do homes in Lake of the Woods County, MN cost?
Median Sold Price
$198,575
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$21,625(+12.2%)
Key Takeaway
Homes in Lake of the Woods County have sold for 12.2% more than they did a year ago.
Summary: The median home sold price in Lake of the Woods County was $198,575 in October 2024, up 12.2% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $190K | +111.1% |
| 2 Bedrooms | $155K | $165.5K | +6.8% |
| 3 Bedrooms | $187.5K | $224.9K | +20.0% |
| 4 Bedrooms | $268K | $309K | +15.3% |
| 5+ Bedrooms | $255K | $402.5K | +57.9% |
Summary: Lake of the Woods County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 111.1%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 15.3%, and 5+ bedroom homes increased by 57.9%.
Median Sold Price Compared To Nearby Counties
| Lake of the Woods County | $176.9K | $198.5K | +12.2% |
| Roseau County | $181K | $200K | +10.5% |
| Beltrami County | $255.2K | $280K | +9.7% |
| Koochiching County | $145K | $157K | +8.3% |
Housing Supply in Lake of the Woods County, MN
How many homes are available in Lake of the Woods County, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 49 | 53 | +8.2% |
Summary: The Lake of the Woods County real estate market had 53 homes for sale in October 2024, a 8.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 6 | 0.0% |
| 2 Bedrooms | 14 | 12 | -14.3% |
| 3 Bedrooms | 18 | 24 | +33.3% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Lake of the Woods County 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 14.3%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 13 | +333.3% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake of the Woods County, you may be able to get a good deal. 92.3% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Lake of the Woods County in October 2024, up by 333.3% month-over-month. Of the 13 sold homes, 92% were sold under asking, 8% were sold at asking, and 0% were sold over asking.
Days on Market for Lake of the Woods County, MN
How long does it take to sell a home in Lake of the Woods County, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 33 Days | 110 Days | +232.3% |
Summary: Homes in Lake of the Woods County had an average of 110 days on market in Oct 2024, up by 232.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lake of the Woods County has remained consistent over time.
Summary: During October 2024, 13 homes were sold in Lake of the Woods County; 23% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
