Dave Lilja's Localized Market Report
Lake County, MN
Single-Family Homes
Think Minnesota Realty | 612-810-8779 | dog28@me.com
Lake County, MN
Thu Jul 09 2026
This week the median list price for Lake County, MN is $399,000 with the market action index hovering around 35. This is less than last month's market action index of 39. Inventory has increased to 53.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
In terms of supply and demand, the market is getting cooler - more supply is coming on the market relative to the sales demand. However, in recent weeks prices have been moving higher. Since it is technically a Buyer's market, this price trend may be a result of improved quality (newer, larger homes) of the homes being listed. Look at the descriptive statistics where you may notice the homes being listed are larger and younger than they have been in the past.
Real-Time Market Profile
| Median List Price | $399,000 | |
| Median Price of New Listings | $362,500 | |
| Per Square Foot | $227 | |
| Average Days on Market | 125 | |
| Median Days on Market | 49 | |
| Price Decreased | 36% | |
| Price Increased | 0% | |
| Relisted | 11% | |
| Inventory | 53 | |
| Median Rent | ||
| Market Action | 35 | |
| Slight Seller's Advantage | ||
While this week the median didn’t fluctuate much, prices continue to sit at all time highs. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $899,450 | 3,112 | 2.5 - 5 acres | 4 | 2.5 | 18 | 0 | 0 | 38 |
| $550,000 | 1,888 | 10 - 20 acres | 3 | 1.8 | 24 | 1 | 2 | 49 |
| $299,900 | 1,830 | 0.5 - 1 acre | 3 | 1.5 | 49 | 0 | 0 | 84 |
| $140,000 | 960 | 0.5 - 1 acre | 2 | 1 | 72 | 1 | 0 | 56 |