$6,472 Closing Credit*
$545,000
1,806 SqFt
3 Beds
•1 Full Bath
Listing Office: RE/MAX Results
Is Lakeland, 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, Lakeland has remained a Seller's Market.
Key Takeaway
Lakeland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lakeland, MN
How much do homes in Lakeland, MN cost?
Median Sold Price
$380,000
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$2,000(-0.5%)
Key Takeaway
Homes in Lakeland have sold for 0.5% less than they did a year ago.
Summary: The median home sold price in Lakeland was $380,000 in October 2024, down 0.5% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $264.5K | $222K | -16.1% |
| 3 Bedrooms | $380K | $355K | -6.6% |
| 4 Bedrooms | $465K | $450.9K | -3.0% |
| 5+ Bedrooms | $378.8K | $395K | +4.3% |
Summary: Lakeland 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 16.1%, 3 bedroom homes decreased by 6.6%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes increased by 4.3%.
Median Sold Price Compared To Nearby Cities
| Hudson | $450K | $471.3K | +4.7% |
| Lakeland | $382K | $380K | -0.5% |
Housing Supply in Lakeland, MN
How many homes are available in Lakeland, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 16 | 0.0% |
Summary: The Lakeland real estate market had 16 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 4 | 2 | -50.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Lakeland housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 40%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 4 | -42.9% |
Asking Price vs. Sold Price
2 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 Lakeland, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Lakeland in October 2024, down by 42.9% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Lakeland, MN
How long does it take to sell a home in Lakeland, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 46 Days | +190.6% |
Summary: Homes in Lakeland had an average of 46 days on market in Oct 2024, up by 190.6% compared to last year.
Breakdown of Home Sale Times
2 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 Lakeland are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in Lakeland; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
