$549,000
1.14 Acres
Land
Terry Backlund, Listing Office: Backlund Realty LLC
Is Lutsen, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Lutsen has remained a Seller's Market.
Key Takeaway
Lutsen is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lutsen, MN
How much do homes in Lutsen, MN cost?
Median Sold Price
$360,000
$378/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
-$125,000(-25.8%)
Key Takeaway
Homes in Lutsen have sold for 25.8% less than they did a month ago.
Summary: The median home sold price in Lutsen was $360,000 in October 2024, down 25.8% from last month, and the median price per square foot was $378.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $485K | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | - | $360K | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Lutsen housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Tofte | $675K | $1.5M | +122.2% |
| Lutsen Township | $490K | $930K | +89.8% |
| West Cook | $482.5K | $490K | +1.6% |
| Lutsen | $485K | $360K | -25.8% |
Housing Supply in Lutsen, MN
How many homes are available in Lutsen, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 1 | -66.7% |
Summary: The Lutsen real estate market had 1 homes for sale in October 2024, a 66.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 0 | -100.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 0 | 1 | +100.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Lutsen housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lutsen, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Lutsen in October 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Lutsen, MN
How long does it take to sell a home in Lutsen, MN?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 Days | 5 Days | -28.6% |
Summary: Homes in Lutsen had an average of 5 days on market in Oct 2024, down by 28.6% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lutsen are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 1 homes were sold in Lutsen; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.