Housing Prices in Rainy Lake, MN

How much do homes in Rainy Lake, MN cost?

Median List Price

$299,000

$221/sqft

Based on all homes listed in the last 12 months.

Difference Since March 2023

+$11,500(+4.0%)

Key Takeaway

The list price of homes in Rainy Lake has increased by 4% since last year.

Summary: The median home list price in Rainy Lake was $299,000 in March 2024, up 4% from the previous year, and the median price per square foot was $221.

Median List Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $167.5K$229K
+36.7%
2 $182.4K$357.5K
+95.9%
3 $344.5K$339K
-1.6%
4 $431.5K$224.2K
-48.0%
5+ $299.4K$448.9K
+49.9%

Summary: Rainy Lake housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.7%, 2 bedroom homes increased by 95.9%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes decreased by 48%, and 5+ bedroom homes increased by 49.9%.

Median List Price Compared To Nearby Cities

Rainy Lake
+4.0%
International Falls
+3.5%

Housing Supply in Rainy Lake, MN

How many homes are available in Rainy Lake, MN?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
12120.0%

Summary: The Rainy Lake real estate market had 12 homes for sale in March 2024, the same as February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 55
0.0%
2 22
0.0%
3 33
0.0%
4 11
0.0%
5+ 11
0.0%

Summary: The Rainy Lake 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Days on Market for Rainy Lake, MN

How long does it take to sell a home in Rainy Lake, MN?

Average Listing Age

Mar 2023Mar 2024CHANGE
240 Days230 Days-4.1%

Summary: Homes in Rainy Lake had an average listing age of 230 days in Mar 2024, down by 4.1% compared to the previous year.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

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