Is Lake of the Woods County, 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, Lake of the Woods County was a Seller's Market.
Housing Prices in Lake of the Woods County, MN
How much do homes in Lake of the Woods County, MN cost?
Median Sold Price
$195,000
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lake of the Woods County was $195,000 in April 2024, down 6.6% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $189K | $132.5K | -29.9% |
2 Bedrooms | $168.2K | $185K | +10.0% |
3 Bedrooms | $225K | $190K | -15.6% |
4 Bedrooms | $310K | $309.5K | -0.2% |
5+ Bedrooms | $519K | $265K | -48.9% |
Summary: Lake of the Woods County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 29.9%, 2 bedroom homes increased by 10%, 3 bedroom homes decreased by 15.6%, 4 bedroom homes decreased by 0.2%, and 5+ bedroom homes decreased by 48.9%.
Median Sold Price Compared To Nearby Counties
Roseau County | $183K | $200.8K | +9.8% |
Beltrami County | $250K | $261K | +4.4% |
Lake of the Woods County | $208.7K | $195K | -6.6% |
Housing Supply in Lake of the Woods County, MN
How many homes are available in Lake of the Woods County, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
28 | 31 | +10.7% |
Summary: The Lake of the Woods County real estate market had 31 homes for sale in April 2024, a 10.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 11 | 12 | +9.1% |
3 Bedrooms | 12 | 13 | +8.3% |
4 Bedrooms | 3 | 4 | +33.3% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lake of the Woods County 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 9.1%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
4 | 5 | +25.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 5 homes were sold or pending in Lake of the Woods County in April 2024, up by 25.0% month-over-month. Of the 5 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Lake of the Woods County, MN
How long does it take to sell a home in Lake of the Woods County, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
175 Days | 119 Days | -32.0% |
Summary: Homes in Lake of the Woods County had an average of 119 days on market in Apr 2024, down by 32% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 5 homes were sold in Lake of the Woods County; 20% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.