Is Lake Park Township, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Lake Park Township was a Seller's Market.
Key Takeaway
Lake Park Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Lake Park Township, MN
How much do homes in Lake Park Township, MN cost?
Median Sold Price
$248,000
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lake Park Township have sold for 34.7% less than they did a year ago.
Summary: The median home sold price in Lake Park Township was $248,000 in April 2024, down 34.7% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $282K | - | N/A |
| 2 Bedrooms | $280K | $149.9K | -46.5% |
| 3 Bedrooms | $405K | $276.9K | -31.6% |
| 4 Bedrooms | $445K | $603.2K | +35.6% |
| 5+ Bedrooms | $680K | $395K | -41.9% |
Summary: Lake Park Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 46.5%, 3 bedroom homes decreased by 31.6%, 4 bedroom homes increased by 35.6%, and 5+ bedroom homes decreased by 41.9%.
Median Sold Price Compared To Nearby Cities
| Cormorant Township | $405K | $334K | -17.5% |
| Lake Park | $352K | $248K | -29.5% |
| Lake Park Township | $380K | $248K | -34.7% |
| Audubon Township | $575K | $334K | -41.9% |
Housing Supply in Lake Park Township, MN
How many homes are available in Lake Park Township, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 13 | 14 | +7.7% |
Summary: The Lake Park Township real estate market had 14 homes for sale in April 2024, a 7.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Lake Park Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Park Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Lake Park Township in April 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Lake Park Township, MN
How long does it take to sell a home in Lake Park Township, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 112 Days | 46 Days | -59.1% |
Summary: Homes in Lake Park Township had an average of 46 days on market in Apr 2024, down by 59.1% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lake Park Township has remained consistent over time.
Summary: During April 2024, 2 homes were sold in Lake Park Township; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
