$2,541 Closing Credit*
$214,000
1,680 SqFt
3 Beds
•2 Full Baths
Listing Office: RE/MAX Advantage Plus
Is Pequot Lakes, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Pequot Lakes has remained a Seller's Market.
Key Takeaway
Pequot Lakes is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pequot Lakes, MN
How much do homes in Pequot Lakes, MN cost?
Median Sold Price
$379,647
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$45,352(-10.7%)
Key Takeaway
Homes in Pequot Lakes have sold for 10.7% less than they did a year ago.
Summary: The median home sold price in Pequot Lakes was $379,647 in November 2024, down 10.7% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240K | $210K | -12.5% |
| 2 Bedrooms | $300K | $295K | -1.7% |
| 3 Bedrooms | $413K | $379.5K | -8.1% |
| 4 Bedrooms | $470K | $434K | -7.7% |
| 5+ Bedrooms | $629K | $625K | -0.6% |
Summary: Pequot Lakes housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes decreased by 8.1%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes decreased by 0.6%.
Median Sold Price Compared To Nearby Cities
| Pequot Lakes | $425K | $379.6K | -10.7% |
| Pequot Lakes | $428K | $379.9K | -11.2% |
Housing Supply in Pequot Lakes, MN
How many homes are available in Pequot Lakes, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 99 | 101 | +2.0% |
Summary: The Pequot Lakes real estate market had 101 homes for sale in November 2024, a 2.0% increase 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 | 17 | 20 | +17.6% |
| 3 Bedrooms | 35 | 36 | +2.9% |
| 4 Bedrooms | 32 | 30 | -6.3% |
| 5+ Bedrooms | 12 | 12 | 0.0% |
Summary: The Pequot Lakes 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 17.6%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 13 | 23 | +76.9% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pequot Lakes, you may be able to get a good deal. 56.5% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in Pequot Lakes in November 2024, up by 76.9% month-over-month. Of the 23 sold homes, 57% were sold under asking, 17% were sold at asking, and 26% were sold over asking.
Days on Market for Pequot Lakes, MN
How long does it take to sell a home in Pequot Lakes, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 41 Days | 47 Days | +14.5% |
Summary: Homes in Pequot Lakes had an average of 47 days on market in Nov 2024, up by 14.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Pequot Lakes has remained consistent over time.
Summary: During November 2024, 23 homes were sold in Pequot Lakes; 26% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
