Is East Gull Lake, 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, East Gull Lake has remained a Seller's Market.
Key Takeaway
East Gull Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Gull Lake, MN
How much do homes in East Gull Lake, MN cost?
Median Sold Price
$826,427
$387/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in East Gull Lake have sold for 2% more than they did a year ago.
Summary: The median home sold price in East Gull Lake was $826,427 in April 2024, up 2% from last year, and the median price per square foot was $387.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $585K | $765.5K | +30.9% |
| 3 Bedrooms | $615K | $763.2K | +24.1% |
| 4 Bedrooms | $1.6M | $589.6K | -63.1% |
| 5+ Bedrooms | $1.7M | $2.7M | +58.8% |
Summary: East Gull Lake 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 increased by 30.9%, 3 bedroom homes increased by 24.1%, 4 bedroom homes decreased by 63.1%, and 5+ bedroom homes increased by 58.8%.
Median Sold Price Compared To Nearby Cities
| Fairview Township | $675K | $775.2K | +14.9% |
| First Assessment | $356K | $375K | +5.3% |
| East Gull Lake | $810K | $826.4K | +2.0% |
| Nisswa | $607.5K | $582K | -4.2% |
Housing Supply in East Gull Lake, MN
How many homes are available in East Gull Lake, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 11 | +22.2% |
Summary: The East Gull Lake real estate market had 11 homes for sale in April 2024, a 22.2% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The East Gull Lake 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 33.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in East Gull Lake, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in East Gull Lake in April 2024, the same as the previous month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for East Gull Lake, MN
How long does it take to sell a home in East Gull Lake, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 42 Days | 54 Days | +29.8% |
Summary: Homes in East Gull Lake had an average of 54 days on market in Apr 2024, up by 29.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in East Gull Lake are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in East Gull Lake; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
