$3,800 Closing Credit*
$320,000
1,440 SqFt
2 Beds
•1 Full Bath
Listing Office: eXp Realty
Is Lake Shore, 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 Shore has remained a Seller's Market.
Key Takeaway
Lake Shore is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Shore, MN
How much do homes in Lake Shore, MN cost?
Median Sold Price
$730,993
$329/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$80,993(+12.5%)
Key Takeaway
Homes in Lake Shore have sold for 12.5% more than they did a year ago.
Summary: The median home sold price in Lake Shore was $730,993 in October 2024, up 12.5% from last year, and the median price per square foot was $329.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $321.2K | - | N/A |
| 2 Bedrooms | $630K | $734.5K | +16.6% |
| 3 Bedrooms | $580K | $525K | -9.5% |
| 4 Bedrooms | $832.5K | $772.7K | -7.2% |
| 5+ Bedrooms | $1.9M | $2.2M | +12.8% |
Summary: Lake Shore housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.6%, 3 bedroom homes decreased by 9.5%, 4 bedroom homes decreased by 7.2%, and 5+ bedroom homes increased by 12.8%.
Median Sold Price Compared To Nearby Cities
| Lake Shore | $650K | $730.9K | +12.5% |
| Nisswa | $617.4K | $590K | -4.4% |
| Pequot Lakes | $425K | $384K | -9.6% |
Housing Supply in Lake Shore, MN
How many homes are available in Lake Shore, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 20 | -4.8% |
Summary: The Lake Shore real estate market had 20 homes for sale in October 2024, a 4.8% decrease 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 7 | 7 | 0.0% |
| 4 Bedrooms | 6 | 4 | -33.3% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Lake Shore 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Shore, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Lake Shore in October 2024, up by 200.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for Lake Shore, MN
How long does it take to sell a home in Lake Shore, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 15 Days | 16 Days | +6.5% |
Summary: Homes in Lake Shore had an average of 16 days on market in Oct 2024, up by 6.5% compared to last year.
Breakdown of Home Sale Times
5 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 Shore are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in Lake Shore; 83% 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.
