Is Big Lake, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Big Lake is a neutral's market

Buyer's
Market

Difference Since November 2021

At the same time last year, Big Lake was a Seller's Market.

Key Takeaway

Big 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.

How much do homes in Big Lake, MN cost?

Median Sold Price

$325,000

$172/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$26,773(+9.0%)

Key Takeaway

Homes in Big Lake have sold for 9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $211.2K$160K
-24.3%
2 $252.2K$290K
+15.0%
3 $295K$315K
+6.8%
4 $305K$332.5K
+9.0%
5+ $340K$355K
+4.4%

Median Sold Price Compared To Nearby Cities

Big Lake
+9.0%
Big Lake Township
+4.6%

How many homes are available in Big Lake, MN?

Number of Homes For Sale

Oct 2022Nov 2022%
4136-12.2%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 01
+100.0%
2 109
-10.0%
3 1411
-21.4%
4 1614
-12.5%
5+ 11
0.0%

Number of Homes Sold

Oct 2022Nov 2022%
126-50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Big Lake, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.

Average Sale Time

Nov 2021Nov 2022%
22 Days26 Days+19.1%

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Big Lake has remained consistent over time.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Big Lake, MN

Big Lake, MN has 36 homes on the market. The number of homes for sale in Big Lake, MN decreased by 12.2% between October 2022 and November 2022. While the average time on the market in November 2022 was 26 days, the median list price was $325,000. Listing prices have changed in this real estate market between October 2022 and November 2022: the cost of 1 bedroom properties went down by 24.3%, prices of 2 bedrooms properties went up by 15%, 3 bedrooms properties became 6.8% more expensive, the cost of 4 bedrooms properties went up by 9%, 5 bedrooms properties prices increased by 4.4%. Housing inventory have changed in this real estate market: 1 bedroom homes became 100% more available, the quantity of 2 bedrooms homes went down by 10%, volume of 3 bedrooms homes went down by 21.4%, volume of 4 bedrooms homes went down by 12.5%, 5 bedrooms homes did not move. Over 0 listings were sold over their listed price in November 2022 in Big Lake, MN. In the same period over 2 listings were sold below the listed price and 4 listings were sold for the listed price.

Related Housing Market Reports