$10,000 Closing Credit*
$1,300,000
2,520 SqFt
2 Beds
•1 Full Bath
Listing Office: Edina Realty, Inc.
Is Pequot Lakes, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Pequot Lakes was a Seller's Market.
Key Takeaway
Pequot Lakes is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Pequot Lakes, MN
How much do homes in Pequot Lakes, MN cost?
Median Sold Price
$382,000
$229/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$40,000(-9.5%)
Key Takeaway
Homes in Pequot Lakes have sold for 9.5% less than they did a year ago.
Summary: The median home sold price in Pequot Lakes was $382,000 in October 2024, down 9.5% from last year, and the median price per square foot was $229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240K | $190K | -20.8% |
| 2 Bedrooms | $295.5K | $300K | +1.5% |
| 3 Bedrooms | $423.5K | $352.5K | -16.8% |
| 4 Bedrooms | $452.5K | $475K | +5.0% |
| 5+ Bedrooms | $610K | $637.5K | +4.5% |
Summary: Pequot Lakes housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.8%, 2 bedroom homes increased by 1.5%, 3 bedroom homes decreased by 16.8%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 4.5%.
Median Sold Price Compared To Nearby Cities
| Pequot Lakes | $422K | $382K | -9.5% |
| Pequot Lakes | $425K | $384K | -9.6% |
Housing Supply in Pequot Lakes, MN
How many homes are available in Pequot Lakes, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 106 | 112 | +5.7% |
Summary: The Pequot Lakes real estate market had 112 homes for sale in October 2024, a 5.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 14 | 19 | +35.7% |
| 3 Bedrooms | 41 | 39 | -4.9% |
| 4 Bedrooms | 36 | 38 | +5.6% |
| 5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The Pequot Lakes 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 35.7%, 3 bedroom homes decreased by 4.9%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 13 | -23.5% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
0 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. 53.8% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Pequot Lakes in October 2024, down by 23.5% month-over-month. Of the 13 sold homes, 54% were sold under asking, 46% were sold at asking, and 0% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 46 Days | +125.1% |
Summary: Homes in Pequot Lakes had an average of 46 days on market in Oct 2024, up by 125.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Pequot Lakes has remained consistent over time.
Summary: During October 2024, 13 homes were sold in Pequot Lakes; 31% of homes were sold within 30 days, 46% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
