$6,294 Closing Credit*
$529,990
2,185 SqFt
4 Beds
•2 Full Baths, 1 Partial
Listing Office: Lennar Sales Corp
Is Lakeville, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Lakeville was a Seller's Market.
Key Takeaway
Lakeville 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 Lakeville, MN
How much do homes in Lakeville, MN cost?
Median Sold Price
$487,733
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$5,490(+1.1%)
Key Takeaway
Homes in Lakeville have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in Lakeville was $487,733 in November 2024, up 1.1% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $300K | $291K | -3.0% |
| 3 Bedrooms | $403.5K | $399.5K | -1.0% |
| 4 Bedrooms | $510.4K | $515.5K | +1.0% |
| 5+ Bedrooms | $620K | $640K | +3.2% |
Summary: Lakeville housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3%, 3 bedroom homes decreased by 1%, 4 bedroom homes increased by 1%, and 5+ bedroom homes increased by 3.2%.
Median Sold Price Compared To Nearby Cities
| Farmington | $369.9K | $410.5K | +11.0% |
| Burnsville | $355K | $374.2K | +5.4% |
| Apple Valley | $360K | $373.6K | +3.8% |
| Lakeville | $482.2K | $487.7K | +1.1% |
| Credit River Township | $835K | $830K | -0.6% |
Housing Supply in Lakeville, MN
How many homes are available in Lakeville, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 404 | 406 | 0.5% |
Summary: The Lakeville real estate market had 406 homes for sale in November 2024, a 0.5% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 30 | 37 | +23.3% |
| 3 Bedrooms | 106 | 110 | +3.8% |
| 4 Bedrooms | 158 | 164 | +3.8% |
| 5+ Bedrooms | 110 | 95 | -13.6% |
Summary: The Lakeville 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 23.3%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes decreased by 13.6%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 110 | 64 | -41.8% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lakeville, you may be able to get a good deal. 45.3% of homes here sold below asking price last month.
Summary: A total of 64 homes were sold or pending in Lakeville in November 2024, down by 41.8% month-over-month. Of the 64 sold homes, 45% were sold under asking, 31% were sold at asking, and 23% were sold over asking.
Days on Market for Lakeville, MN
How long does it take to sell a home in Lakeville, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 36 Days | 31 Days | -13.9% |
Summary: Homes in Lakeville had an average of 31 days on market in Nov 2024, down by 13.9% compared to last year.
Breakdown of Home Sale Times
40 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lakeville are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 64 homes were sold in Lakeville; 63% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
