Is Big Lake, 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, Big Lake has remained a Seller's Market.
Housing Prices in Big Lake, MN
How much do homes in Big Lake, MN cost?
Median Sold Price
$345,000
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Big Lake was $345,000 in May 2024, down 0.1% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $161K | $174.9K | +8.6% |
2 Bedrooms | $290K | $301K | +3.8% |
3 Bedrooms | $340K | $335.6K | -1.3% |
4 Bedrooms | $365K | $365K | 0.0% |
5+ Bedrooms | $390.9K | $390K | -0.2% |
Summary: Big Lake housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.6%, 2 bedroom homes increased by 3.8%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 0.2%.
Median Sold Price Compared To Nearby Cities
Big Lake Township | $348.5K | $349K | 0.1% |
Big Lake | $345.5K | $345K | -0.1% |
Housing Supply in Big Lake, MN
How many homes are available in Big Lake, MN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
93 | 113 | +21.5% |
Summary: The Big Lake real estate market had 113 homes for sale in May 2024, a 21.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 17 | 18 | +5.9% |
3 Bedrooms | 32 | 35 | +9.4% |
4 Bedrooms | 25 | 35 | +40.0% |
5+ Bedrooms | 17 | 23 | +35.3% |
Summary: The Big Lake housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 35.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
26 | 22 | -15.4% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in Big Lake in May 2024, down by 15.4% month-over-month. Of the 22 sold homes, 32% were sold under asking, 23% were sold at asking, and 45% were sold over asking.
Days on Market for Big Lake, MN
How long does it take to sell a home in Big Lake, MN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
41 Days | 30 Days | -25.9% |
Summary: Homes in Big Lake had an average of 30 days on market in May 2024, down by 25.9% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 22 homes were sold in Big Lake; 64% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.