Is West Lakeland Township, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, West Lakeland Township has remained a Seller's Market.
Key Takeaway
West Lakeland Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Lakeland Township, MN
How much do homes in West Lakeland Township, MN cost?
Median Sold Price
$669,773
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in West Lakeland Township have sold for 9.5% less than they did a year ago.
Summary: The median home sold price in West Lakeland Township was $669,773 in April 2024, down 9.5% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $645.2K | $296.5K | -54.0% |
| 3 Bedrooms | $570K | $562K | -1.4% |
| 4 Bedrooms | $768.2K | $698K | -9.1% |
| 5+ Bedrooms | $865K | $925K | +6.9% |
Summary: West Lakeland 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 54%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 6.9%.
Median Sold Price Compared To Nearby Cities
| North Hudson | $400K | $430K | +7.5% |
| Lake Elmo | $635K | $680K | +7.1% |
| West Lakeland Township | $740K | $669.7K | -9.5% |
Housing Supply in West Lakeland Township, MN
How many homes are available in West Lakeland Township, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 13 | +44.4% |
Summary: The West Lakeland Township real estate market had 13 homes for sale in April 2024, a 44.4% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 2 | 3 | +50.0% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The West Lakeland 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 remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 5 | +400.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in West Lakeland Township, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in West Lakeland Township in April 2024, up by 400.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for West Lakeland Township, MN
How long does it take to sell a home in West Lakeland Township, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 8 Days | 72 Days | +752.9% |
Summary: Homes in West Lakeland Township had an average of 72 days on market in Apr 2024, up by 752.9% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in West Lakeland Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 5 homes were sold in West Lakeland Township; 20% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
