$8,609 Closing Credit*
$725,000
3,300 SqFt
4 Beds
•2 Full Baths, 1 Partial
Listing Office: eXp Realty
Is Long Lake, 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, Long Lake was a Seller's Market.
Key Takeaway
Long Lake 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 Long Lake, MN
How much do homes in Long Lake, MN cost?
Median Sold Price
$984,500
$254/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$428,500(+77.1%)
Key Takeaway
Homes in Long Lake have sold for 77.1% more than they did a year ago.
Summary: The median home sold price in Long Lake was $984,500 in November 2024, up 77.1% from last year, and the median price per square foot was $254.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $387.5K | $876.7K | +126.3% |
| 3 Bedrooms | $473.5K | $572.5K | +20.9% |
| 4 Bedrooms | $748.5K | $895K | +19.6% |
| 5+ Bedrooms | $1.0M | $1.3M | +27.0% |
Summary: Long Lake 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 increased by 126.3%, 3 bedroom homes increased by 20.9%, 4 bedroom homes increased by 19.6%, and 5+ bedroom homes increased by 27%.
Median Sold Price Compared To Nearby Cities
| Long Lake | $556K | $984.5K | +77.1% |
| Orono | $1.0M | $1.1M | +9.8% |
Housing Supply in Long Lake, MN
How many homes are available in Long Lake, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 56 | 55 | -1.8% |
Summary: The Long Lake real estate market had 55 homes for sale in November 2024, a 1.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 17 | 17 | 0.0% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 26 | 21 | -19.2% |
Summary: The Long Lake 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 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 19.2%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 9 | -18.2% |
Asking Price vs. Sold Price
7 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 Long Lake, you may be able to get a good deal. 77.8% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Long Lake in November 2024, down by 18.2% month-over-month. Of the 9 sold homes, 78% were sold under asking, 22% were sold at asking, and 0% were sold over asking.
Days on Market for Long Lake, MN
How long does it take to sell a home in Long Lake, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 47 Days | 77 Days | +63.5% |
Summary: Homes in Long Lake had an average of 77 days on market in Nov 2024, up by 63.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Long Lake has remained consistent over time.
Summary: During November 2024, 9 homes were sold in Long Lake; 22% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
