$2,018 Closing Credit*
$169,900
1,680 SqFt
4 Beds
•2 Full Baths
Listing Office: Stan Sievert Agency
Is Lakefield, 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, Lakefield has remained a Seller's Market.
Key Takeaway
Lakefield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lakefield, MN
How much do homes in Lakefield, MN cost?
Median Sold Price
$161,000
$92/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$4,000(+2.5%)
Key Takeaway
Homes in Lakefield have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Lakefield was $161,000 in October 2024, up 2.5% from last year, and the median price per square foot was $92.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $90.4K | N/A |
| 2 Bedrooms | $131K | $119K | -9.2% |
| 3 Bedrooms | $199.7K | $185K | -7.4% |
| 4 Bedrooms | $150K | $175.9K | +17.3% |
| 5+ Bedrooms | $164K | $163K | -0.6% |
Summary: Lakefield 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 decreased by 9.2%, 3 bedroom homes decreased by 7.4%, 4 bedroom homes increased by 17.3%, and 5+ bedroom homes decreased by 0.6%.
Housing Supply in Lakefield, MN
How many homes are available in Lakefield, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 16 | +23.1% |
Summary: The Lakefield real estate market had 16 homes for sale in October 2024, a 23.1% increase 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 | 2 | +100.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Lakefield 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 100%, 3 bedroom homes increased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lakefield, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Lakefield in October 2024, up by 400.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.
Days on Market for Lakefield, MN
How long does it take to sell a home in Lakefield, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 40 Days | +40.7% |
Summary: Homes in Lakefield had an average of 40 days on market in Oct 2024, up by 40.7% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lakefield are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 5 homes were sold in Lakefield; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
