Is Madison Lake, 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, Madison Lake was a Buyer's Market.
Housing Prices in Madison Lake, MN
How much do homes in Madison Lake, MN cost?
Median Sold Price
$351,500
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Madison Lake was $351,500 in April 2024, down 36.8% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $196.5K | N/A |
2 Bedrooms | $299.9K | $302.4K | +0.9% |
3 Bedrooms | $760K | $318.2K | -58.1% |
4 Bedrooms | $605K | $550K | -9.1% |
5+ Bedrooms | $910K | $577.5K | -36.5% |
Summary: Madison Lake 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 increased by 0.9%, 3 bedroom homes decreased by 58.1%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 36.5%.
Housing Supply in Madison Lake, MN
How many homes are available in Madison Lake, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
23 | 28 | +21.7% |
Summary: The Madison Lake real estate market had 28 homes for sale in April 2024, a 21.7% 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 | 3 | 4 | +33.3% |
3 Bedrooms | 13 | 15 | +15.4% |
4 Bedrooms | 4 | 5 | +25.0% |
5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Madison Lake 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 33.3%, 3 bedroom homes increased by 15.4%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
3 | 5 | +66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Madison Lake in April 2024, up by 66.7% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Madison Lake, MN
How long does it take to sell a home in Madison Lake, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
107 Days | 71 Days | -33.5% |
Summary: Homes in Madison Lake had an average of 71 days on market in Apr 2024, down by 33.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in Madison Lake; 60% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.