$2,078 Closing Credit*
$175,000
1,756 SqFt
3 Beds
•1 Full Bath
Listing Office: Vision Realty
Is Lake Park, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Lake Park has remained a Seller's Market.
Key Takeaway
Lake Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Park, MN
How much do homes in Lake Park, MN cost?
Median Sold Price
$667,000
$222/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$247,000(+58.8%)
Key Takeaway
Homes in Lake Park have sold for 58.8% more than they did a month ago.
Summary: The median home sold price in Lake Park was $667,000 in October 2024, up 58.8% from last month, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $420K | $785K | +86.9% |
| 4 Bedrooms | $761K | $395K | -48.1% |
| 5+ Bedrooms | - | $667K | N/A |
Summary: Lake Park housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 86.9%, 4 bedroom homes decreased by 48.1%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Lake Park | $420K | $667K | +58.8% |
| Lake Park Township | $420K | $667K | +58.8% |
Housing Supply in Lake Park, MN
How many homes are available in Lake Park, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 27 | 29 | +7.4% |
Summary: The Lake Park real estate market had 29 homes for sale in October 2024, a 7.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 11 | 10 | -9.1% |
| 4 Bedrooms | 7 | 9 | +28.6% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Lake Park 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 increased by 25%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
5 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 Park, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Lake Park in October 2024, up by 20.0% month-over-month. Of the 6 sold homes, 83% were sold under asking, 17% were sold at asking, and 0% were sold over asking.
Days on Market for Lake Park, MN
How long does it take to sell a home in Lake Park, MN?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 106 Days | 29 Days | -72.4% |
Summary: Homes in Lake Park had an average of 29 days on market in Oct 2024, down by 72.4% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Park are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in Lake Park; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
