$3,696 Closing Credit*
$311,200
576 SqFt
2 Beds
•1 Bath
Listing Office: Pahlen Realty, Inc.
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 November 2023
At the same time last year, Lake of the Woods County was a Neutral Market.
Key Takeaway
Lake of the Woods County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lake of the Woods County, MN
How much do homes in Lake of the Woods County, MN cost?
Median Sold Price
$213,725
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$34,725(+19.4%)
Key Takeaway
Homes in Lake of the Woods County have sold for 19.4% more than they did a year ago.
Summary: The median home sold price in Lake of the Woods County was $213,725 in November 2024, up 19.4% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $182.5K | +102.8% |
| 2 Bedrooms | $155K | $165.5K | +6.8% |
| 3 Bedrooms | $179.5K | $225K | +25.3% |
| 4 Bedrooms | $345K | $309K | -10.4% |
| 5+ Bedrooms | $255K | $402.5K | +57.9% |
Summary: Lake of the Woods County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 102.8%, 2 bedroom homes increased by 6.8%, 3 bedroom homes increased by 25.3%, 4 bedroom homes decreased by 10.4%, and 5+ bedroom homes increased by 57.9%.
Median Sold Price Compared To Nearby Counties
| Lake of the Woods County | $179K | $213.7K | +19.4% |
| Roseau County | $179.7K | $213.8K | +19.0% |
| Beltrami County | $254.4K | $280K | +10.0% |
| Koochiching County | $145K | $155K | +6.9% |
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
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 49 | 39 | -20.4% |
Summary: The Lake of the Woods County real estate market had 39 homes for sale in November 2024, a 20.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 4 | -33.3% |
| 2 Bedrooms | 11 | 9 | -18.2% |
| 3 Bedrooms | 22 | 17 | -22.7% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Lake of the Woods County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 18.2%, 3 bedroom homes decreased by 22.7%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 3 | -78.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were 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. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Lake of the Woods County in November 2024, down by 78.6% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 80 Days | 110 Days | +36.1% |
Summary: Homes in Lake of the Woods County had an average of 110 days on market in Nov 2024, up by 36.1% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Lake of the Woods County are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 3 homes were sold in Lake of the Woods County; 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.
