Is Crosslake, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Crosslake has remained a Seller's Market.
Key Takeaway
Crosslake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Crosslake, MN
How much do homes in Crosslake, MN cost?
Median Sold Price
$490,000
$298/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Crosslake have sold for 13.3% less than they did a year ago.
Summary: The median home sold price in Crosslake was $490,000 in May 2024, down 13.3% from last year, and the median price per square foot was $298.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $135K | $138.2K | +2.4% |
| 2 Bedrooms | $379.9K | $368K | -3.2% |
| 3 Bedrooms | $595K | $499.9K | -16.0% |
| 4 Bedrooms | $960K | $750K | -21.9% |
| 5+ Bedrooms | $1.1M | $2.0M | +74.9% |
Summary: Crosslake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes decreased by 16%, 4 bedroom homes decreased by 21.9%, and 5+ bedroom homes increased by 74.9%.
Median Sold Price Compared To Nearby Cities
| Fifty Lakes | $500K | $525K | +5.0% |
| Ideal Township | $859.5K | $870K | +1.2% |
| Crosslake | $565K | $490K | -13.3% |
Housing Supply in Crosslake, MN
How many homes are available in Crosslake, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 45 | 55 | +22.2% |
Summary: The Crosslake real estate market had 55 homes for sale in May 2024, a 22.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 7 | 11 | +57.1% |
| 3 Bedrooms | 15 | 20 | +33.3% |
| 4 Bedrooms | 16 | 16 | 0.0% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Crosslake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 57.1%, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 10 | +100.0% |
Asking Price vs. Sold Price
8 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 Crosslake, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Crosslake in May 2024, up by 100.0% month-over-month. Of the 10 sold homes, 80% were sold under asking, 10% were sold at asking, and 10% were sold over asking.
Days on Market for Crosslake, MN
How long does it take to sell a home in Crosslake, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 19 Days | 81 Days | +322.9% |
Summary: Homes in Crosslake had an average of 81 days on market in May 2024, up by 322.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Crosslake are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in Crosslake; 60% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
