$6,585 Closing Credit*
$554,525
2,402 SqFt
4 Beds
•1 Full Bath, 1 Partial
Listing Office: D.R. Horton, Inc.
Is Lakeville, 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, Lakeville has remained a Seller's Market.
Key Takeaway
Lakeville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lakeville, MN
How much do homes in Lakeville, MN cost?
Median Sold Price
$494,801
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$19,801(+4.2%)
Key Takeaway
Homes in Lakeville have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Lakeville was $494,801 in October 2024, up 4.2% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $303.5K | $297K | -2.1% |
| 3 Bedrooms | $400.2K | $400K | 0% |
| 4 Bedrooms | $503.3K | $520.9K | +3.5% |
| 5+ Bedrooms | $619.9K | $639.9K | +3.2% |
Summary: Lakeville 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 2.1%, 3 bedroom homes did not change, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 3.2%.
Median Sold Price Compared To Nearby Cities
| Farmington | $371.4K | $408.6K | +10.0% |
| Lakeville | $475K | $494.8K | +4.2% |
| Burnsville | $355K | $370K | +4.2% |
| Apple Valley | $360.2K | $372.3K | +3.4% |
| Credit River Township | $816K | $825K | +1.1% |
Housing Supply in Lakeville, MN
How many homes are available in Lakeville, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 424 | 470 | +10.8% |
Summary: The Lakeville real estate market had 470 homes for sale in October 2024, a 10.8% 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 | 25 | 37 | +48.0% |
| 3 Bedrooms | 134 | 131 | -2.2% |
| 4 Bedrooms | 144 | 173 | +20.1% |
| 5+ Bedrooms | 121 | 129 | +6.6% |
Summary: The Lakeville 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 48%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 20.1%, and 5+ bedroom homes increased by 6.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 79 | 93 | +17.7% |
Asking Price vs. Sold Price
43 Homes Were Sold
Under Asking
24 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lakeville, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 93 homes were sold or pending in Lakeville in October 2024, up by 17.7% month-over-month. Of the 93 sold homes, 46% were sold under asking, 26% were sold at asking, and 28% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 33 Days | 35 Days | +4.2% |
Summary: Homes in Lakeville had an average of 35 days on market in Oct 2024, up by 4.2% compared to last year.
Breakdown of Home Sale Times
47 Homes Were Sold
Under 30 Days
39 Homes Were Sold
In 30 - 90 Days
6 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 October 2024, 93 homes were sold in Lakeville; 51% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
