$10,000 Closing Credit*
$1,295,000
2,395 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Edina Realty, Inc.
Is Long Lake, 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, Long Lake has remained a Neutral 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
$980,000
$256/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$416,441(+73.9%)
Key Takeaway
Homes in Long Lake have sold for 73.9% more than they did a year ago.
Summary: The median home sold price in Long Lake was $980,000 in October 2024, up 73.9% from last year, and the median price per square foot was $256.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $387.5K | $876.7K | +126.3% |
| 3 Bedrooms | $479.5K | $560K | +16.8% |
| 4 Bedrooms | $750K | $937.5K | +25.0% |
| 5+ Bedrooms | $1.3M | $1.3M | +0.9% |
Summary: Long Lake 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 increased by 126.3%, 3 bedroom homes increased by 16.8%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 0.9%.
Median Sold Price Compared To Nearby Cities
| Long Lake | $563.5K | $980K | +73.9% |
| Orono | $1.1M | $1.1M | 0.4% |
Housing Supply in Long Lake, MN
How many homes are available in Long Lake, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 56 | 60 | +7.1% |
Summary: The Long Lake real estate market had 60 homes for sale in October 2024, a 7.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 15 | 17 | +13.3% |
| 4 Bedrooms | 10 | 9 | -10.0% |
| 5+ Bedrooms | 29 | 29 | 0.0% |
Summary: The Long Lake housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 13.3%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 10 | +66.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 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. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Long Lake in October 2024, up by 66.7% month-over-month. Of the 10 sold homes, 70% were sold under asking, 30% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 19 Days | 46 Days | +146.8% |
Summary: Homes in Long Lake had an average of 46 days on market in Oct 2024, up by 146.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Long Lake are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in Long Lake; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
