Brokers — List your Company Here
Featured local agent — Lake City, MN
Sarah Mitchell
Compass Real Estate · Lake City, MN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
This spot is open. Be the only brokerage featured on this page — one slot, no auction.
Claim this spot* Example only — dummy agent for illustration. Your logo, name, tagline, link, and lead routing replace this content.
Lake City, MN Housing Market & Real Estate
Housing market overview · Updated monthly ·
$265,000median sale price
How is the Lake City, MN housing market right now?
The median home sale price in Lake City, MN is $265,000, down 13.1% year-over-year. Homes sell in an average of 15 days with 29 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Lake City a buyer's or seller's market?
Lake City, MN is currently a balanced market, based on 4.1 months of supply and homes selling in about 15 days. How we determine this →
Homes sold
7
Last 12 weeks
Days on market
15
Fast-moving
Active listings
29
4.1 months supply
Sale-to-list
99.4%
Below asking
What does the Lake City housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $265,000 |
| Median list price | $337,450 |
| Year-over-year price change | -13.1% |
| Average days on market | 15 days |
| Active inventory | 29 listings |
| Months of supply | 4.1 months |
| Sale-to-list price ratio | 99.4% |
| Median price per sq ft | $145/sq ft |
| Homes sold (latest month) | 7 |
| New listings (latest month) | 14 |
| Listings with a price cut | 31.0% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
How much do homes cost in Lake City by property type?
How the Lake City, MN market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $240,000 | $132/sq ft | 6 | 17 days |
| Condo / Co-op | $270,000 | $212/sq ft | 1 | 5 days |
| Townhouse | $450,000 | $223/sq ft | 1 | 13 days |
Source: Redfin · Updated monthly
The Lake City housing market is currently classified as a balanced market with a median sale price of $265,000. Prices have fallen 13.1% compared to last year, with homes spending an average of 15 days on market, indicating 4.1 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.3x provides context for how home values compare to local earning capacity.
Homes for sale in Lake City
There are currently 29 homes listed for sale in Lake City, Minnesota. The median listing price is $337K.
Active listings
29
Homes on market
Median list price
$337K
Avg. days on market
15
Days until sale
New this week
14
Newly listed
Who lives in Lake City?
Population
5,021
Median income
$76,125/yr
Median age
48.4 years
Owner-occupied
78.8%
College grads
32.0%
Avg commute
21.7 min
Source: U.S. Census Bureau ACS
What are homes worth in Lake City?
Zillow home value
$325,617
Price-to-income
4.3x
Source: Zillow Research
What is it like to live in Lake City?
Lake City is a community of approximately 5K residents with a median age of 48.4 years.The median household income is $76,125, which reflects a relatively affluent area with strong earning potential. 32.0% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 78.8%, reflecting strong community stability and long-term resident commitment. The average commute time is 21.7 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Lake City offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Lake City?
3 schools tracked · 1,182 students
The largest public schools serving Lake City, MN by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
LINCOLN SECONDARY
Grades 7-12 · 596 students
BLUFF VIEW ELEMENTARY
Grades PK-6 · 586 students
Lake City Credit Recovery
Grades 9-12
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Lake City, MN?
Want a head-to-head view? Compare Lake City side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Lake City?
The median home sale price in Lake City is $265,000, down 13.1% from last year.
How long do homes stay on market in Lake City?
Homes typically spend 15 days on market before going under contract.
What is the median income in Lake City?
The median household income is $76,125 per year.
Is Lake City a buyer's or seller's market?
With 4.1 months of supply, Lake City is currently a balanced market.
What is the Zillow home value estimate for Lake City?
The Zillow Home Value Index (ZHVI) for Lake City is $325,617, representing the typical home value in the area.
What is the median condo price in Lake City?
The median condo/co-op sale price in Lake City, MN is $270,000, compared to $240,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Lake City?
The median single-family home price in Lake City, MN is $240,000 (about $132 per square foot).
Be the brokerage on this page
1 slot per pageGet featured on Lake City, MN
Your logo, brokerage name, and direct link to your site — featured at the top of this page in front of every visitor researching this whole city. One brokerage, no rotation, no bidding war.
- Goes live in 24 hours
- Cancel anytime
- Do-follow backlink to your site
Get Lake City market alerts
Weekly updates on prices, inventory, and trends. Free forever.