Is Lino Lakes, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lino Lakes has remained a Seller's Market.
Key Takeaway
Lino Lakes is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lino Lakes, MN
How much do homes in Lino Lakes, MN cost?
Median Sold Price
$425,000
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lino Lakes have sold for 1.2% more than they did a year ago.
Summary: The median home sold price in Lino Lakes was $425,000 in May 2024, up 1.2% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $299K | $263.5K | -11.9% |
| 3 Bedrooms | $353.2K | $350K | -0.9% |
| 4 Bedrooms | $471.5K | $500K | +6.0% |
| 5+ Bedrooms | $540K | $543K | +0.6% |
Summary: Lino Lakes housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 11.9%, 3 bedroom homes decreased by 0.9%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 0.6%.
Median Sold Price Compared To Nearby Cities
| Hugo | $431.7K | $445.1K | +3.1% |
| Lino Lakes | $419.9K | $425K | +1.2% |
| Centerville | $376K | $380K | +1.1% |
| Circle Pines | $355K | $355K | 0.0% |
| North Oaks | $950K | $836K | -12.0% |
Housing Supply in Lino Lakes, MN
How many homes are available in Lino Lakes, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 94 | 109 | +16.0% |
Summary: The Lino Lakes real estate market had 109 homes for sale in May 2024, a 16.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 11 | 14 | +27.3% |
| 3 Bedrooms | 39 | 35 | -10.3% |
| 4 Bedrooms | 33 | 43 | +30.3% |
| 5+ Bedrooms | 11 | 17 | +54.5% |
Summary: The Lino Lakes housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 27.3%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes increased by 30.3%, and 5+ bedroom homes increased by 54.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 25 | 31 | +24.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lino Lakes, you could pay more than the asking price. 51.6% of homes here sold above asking price last month.
Summary: A total of 31 homes were sold or pending in Lino Lakes in May 2024, up by 24.0% month-over-month. Of the 31 sold homes, 32% were sold under asking, 16% were sold at asking, and 52% were sold over asking.
Days on Market for Lino Lakes, MN
How long does it take to sell a home in Lino Lakes, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 26 Days | 29 Days | +8.7% |
Summary: Homes in Lino Lakes had an average of 29 days on market in May 2024, up by 8.7% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lino Lakes are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 31 homes were sold in Lino Lakes; 61% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
