$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
Last month, Lake Park was a Seller's Market.
Key Takeaway
Lake Park 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 Park, MN
How much do homes in Lake Park, MN cost?
Median Sold Price
$446,000
$310/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$221,000(-33.1%)
Key Takeaway
Homes in Lake Park have sold for 33.1% less than they did a month ago.
Summary: The median home sold price in Lake Park was $446,000 in November 2024, down 33.1% from last month, and the median price per square foot was $310.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $429.9K | N/A |
| 3 Bedrooms | $535K | $544.5K | +1.8% |
| 4 Bedrooms | $395K | - | N/A |
| 5+ Bedrooms | $667K | $442K | -33.7% |
Summary: Lake Park housing prices by bedroom type for November 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 1.8%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 33.7%.
Median Sold Price Compared To Nearby Cities
| Lake Park | $667K | $446K | -33.1% |
| Lake Park Township | $667K | $446K | -33.1% |
Housing Supply in Lake Park, MN
How many homes are available in Lake Park, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 27 | 25 | -7.4% |
Summary: The Lake Park real estate market had 25 homes for sale in November 2024, a 7.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 9 | 8 | -11.1% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Lake Park housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 4 | -42.9% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Park, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Lake Park in November 2024, down by 42.9% month-over-month. Of the 4 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% 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
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 35 Days | 34 Days | -2.5% |
Summary: Homes in Lake Park had an average of 34 days on market in Nov 2024, down by 2.5% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lake Park has remained consistent over time.
Summary: During November 2024, 4 homes were sold in Lake Park; 25% of homes were sold within 30 days, 75% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
