Is Lakeland, 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, Lakeland has remained a Seller's Market.
Key Takeaway
Lakeland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lakeland, MN
How much do homes in Lakeland, MN cost?
Median Sold Price
$260,000
$223/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Lakeland have sold for 62.5% more than they did a month ago.
Summary: The median home sold price in Lakeland was $260,000 in April 2024, up 62.5% from last month, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $160K | $260K | +62.5% |
| 3 Bedrooms | - | $345K | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Lakeland housing prices by bedroom type for April 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 62.5%, 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
| Lake Saint Croix Beach | $105K | $260K | +147.6% |
| Lakeland | $160K | $260K | +62.5% |
Housing Supply in Lakeland, MN
How many homes are available in Lakeland, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Summary: The Lakeland real estate market had 8 homes for sale in April 2024, a 14.3% 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 | 3 | 1 | -66.7% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 0 | 1 | +100.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Lakeland 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 decreased by 66.7%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lakeland, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Lakeland in April 2024, up by 50.0% month-over-month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Lakeland, MN
How long does it take to sell a home in Lakeland, MN?
Average Sale Time
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 42 Days | 12 Days | -71.4% |
Summary: Homes in Lakeland had an average of 12 days on market in Apr 2024, down by 71.4% compared to last month.
Breakdown of Home Sale Times
3 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 Lakeland are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 3 homes were sold in Lakeland; 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.
