Is East Gull Lake, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, East Gull Lake was a Neutral Market.
Key Takeaway
East Gull Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Gull Lake, MN
How much do homes in East Gull Lake, MN cost?
Median Sold Price
$838,213
$338/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in East Gull Lake have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in East Gull Lake was $838,213 in March 2024, up 4.1% from last year, and the median price per square foot was $338.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $585K | $765.5K | +30.9% |
| 3 Bedrooms | $615K | $826.4K | +34.4% |
| 4 Bedrooms | $1.6M | $500K | -68.8% |
| 5+ Bedrooms | $1.1M | $2.6M | +132.5% |
Summary: East Gull Lake housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 30.9%, 3 bedroom homes increased by 34.4%, 4 bedroom homes decreased by 68.8%, and 5+ bedroom homes increased by 132.5%.
Median Sold Price Compared To Nearby Cities
| First Assessment | $345K | $372.5K | +8.0% |
| Nisswa | $584K | $624.9K | +7.0% |
| East Gull Lake | $805K | $838.2K | +4.1% |
Housing Supply in East Gull Lake, MN
How many homes are available in East Gull Lake, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 9 | -10.0% |
Summary: The East Gull Lake real estate market had 9 homes for sale in March 2024, a 10.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 2 | 2 | 0.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The East Gull Lake housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 2 | +100.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in East Gull Lake, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in East Gull Lake in March 2024, up by 100.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for East Gull Lake, MN
How long does it take to sell a home in East Gull Lake, MN?
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in East Gull Lake are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in East Gull Lake; 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.
