Is Lake of the Woods County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Lake of the Woods County has remained a Neutral Market.
Housing Prices in Lake of the Woods County, MN
How much do homes in Lake of the Woods County, MN cost?
Median Sold Price
$195,000
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Lake of the Woods County was $195,000 in March 2024, down 6.6% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $189K | $132.5K | -29.9% |
2 Bedrooms | $174K | $185K | +6.3% |
3 Bedrooms | $225K | $187.5K | -16.7% |
4 Bedrooms | $274K | $309.5K | +13.0% |
5+ Bedrooms | $519K | $275K | -47.0% |
Summary: Lake of the Woods County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 29.9%, 2 bedroom homes increased by 6.3%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 13%, and 5+ bedroom homes decreased by 47%.
Median Sold Price Compared To Nearby Counties
Roseau County | $185K | $202.9K | +9.7% |
Beltrami County | $255.2K | $256.6K | 0.5% |
Lake of the Woods County | $208.7K | $195K | -6.6% |
Housing Supply in Lake of the Woods County, MN
How many homes are available in Lake of the Woods County, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
25 | 28 | +12.0% |
Summary: The Lake of the Woods County real estate market had 28 homes for sale in March 2024, a 12.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 10 | 11 | +10.0% |
3 Bedrooms | 9 | 12 | +33.3% |
4 Bedrooms | 3 | 3 | 0.0% |
5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Lake of the Woods County 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 10%, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Lake of the Woods County in March 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Lake of the Woods County, MN
How long does it take to sell a home in Lake of the Woods County, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
107 Days | 132 Days | +23.0% |
Summary: Homes in Lake of the Woods County had an average of 132 days on market in Mar 2024, up by 23% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 4 homes were sold in Lake of the Woods County; 0% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.