Is Lake No. 2, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Lake No. 2 has remained a Buyer's Market.
Key Takeaway
Lake No. 2 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lake No. 2, MN
How much do homes in Lake No. 2, MN cost?
Median Sold Price
$520,000
$179/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Lake No. 2 have sold for 9.6% less than they did a month ago.
Summary: The median home sold price in Lake No. 2 was $520,000 in March 2024, down 9.6% from last month, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $575K | - | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | $520K | N/A |
Summary: Lake No. 2 housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Two Harbors | $290K | $262.5K | -9.5% |
| Lake No. 2 | $575K | $520K | -9.6% |
Housing Supply in Lake No. 2, MN
How many homes are available in Lake No. 2, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 10 | +11.1% |
Summary: The Lake No. 2 real estate market had 10 homes for sale in March 2024, a 11.1% increase 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 6 | 7 | +16.7% |
| 4 Bedrooms | 2 | 1 | -50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lake No. 2 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 increased by 100%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lake No. 2, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Lake No. 2 in March 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Lake No. 2, MN
How long does it take to sell a home in Lake No. 2, MN?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 157 Days | 2 Days | -98.7% |
Summary: Homes in Lake No. 2 had an average of 2 days on market in Mar 2024, down by 98.7% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake No. 2 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 1 homes were sold in Lake No. 2; 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.
