Richard McDonough

Lake Elmo, MN 55042

Single-Family Homes

Luxury Broker


Lake Elmo, MN 55042

Sun Nov 17 2024
This week the median list price for Lake Elmo, MN 55042 is $839,000 with the market action index hovering around 31. This is less than last month's market action index of 33. Inventory has decreased to 38. Click here to stay informed with the Lake Elmo market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Market Narrative

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Lake Elmo, MN 55042

Sun Nov 17 2024
This week the median list price for Lake Elmo, MN 55042 is $839,000 with the market action index hovering around 31. This is less than last month's market action index of 33. Inventory has decreased to 38. Click here to stay informed with the Lake Elmo market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

Market Narrative

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Lake Elmo market.
Median List Price $839,000
Median Price of New Listings $650,000
Per Square Foot $252
Average Days on Market 164
Median Days on Market 91
Price Decreased 53%
Price Increased 8%
Relisted 34%
Inventory 38
Median Rent
Market Action 31
Slight Seller's Advantage

In the last few weeks we’ve seen prices in this zip code bouncing around this plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

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
$1,395,000 4,809 1 - 2.5 acres 5 2.5 2 0 0 84
$899,900 3,408 0.25 - 0.5 acre 4 2.5 2 0 2 133
$717,000 3,009 0.25 - 0.5 acre 4 3.5 0 1 1 91
$587,500 2,497 8,000 - 10,000 sqft 3 2 5 0 2 49