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Featured local agent — Lakeland, MN
Sarah Mitchell
Compass Real Estate · Lakeland, MN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Lakeland, MN Housing Market & Real Estate
Housing market overview · Updated monthly ·
$375,000median sale price
How is the Lakeland, MN housing market right now?
The median home sale price in Lakeland, MN is $375,000, down 45.4% year-over-year. Homes sell in an average of 14 days with 1 active listings. The market is currently a strong seller's 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 Lakeland a buyer's or seller's market?
Lakeland, MN is currently a strong seller's market, based on 0.3 months of supply and homes selling in about 14 days. How we determine this →
Homes sold
3
Last 12 weeks
Days on market
14
Fast-moving
Active listings
1
0.3 months supply
Sale-to-list
100.7%
Above asking
What does the Lakeland housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $375,000 |
| Median list price | $379,900 |
| Year-over-year price change | -45.4% |
| Average days on market | 14 days |
| Active inventory | 1 listings |
| Months of supply | 0.3 months |
| Sale-to-list price ratio | 100.7% |
| Median price per sq ft | $244/sq ft |
| Homes sold (latest month) | 3 |
| New listings (latest month) | 3 |
| Listings with a price cut | 100.0% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Lakeland by property type?
How the Lakeland, 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 | $375,000 | $244/sq ft | 3 | 14 days |
Source: Redfin · Updated monthly
The Lakeland housing market is currently classified as a strong seller's market with a median sale price of $375,000. Prices have fallen 45.4% compared to last year, with homes spending an average of 14 days on market, indicating 0.3 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 4.1x provides context for how home values compare to local earning capacity.
Homes for sale in Lakeland
There are currently 1 homes listed for sale in Lakeland, Minnesota. The median listing price is $380K.
Active listings
1
Homes on market
Median list price
$380K
Avg. days on market
14
Days until sale
New this week
3
Newly listed
Who lives in Lakeland?
Population
1,510
Median income
$101,339/yr
Median age
52.7 years
Owner-occupied
85.6%
College grads
46.2%
Avg commute
24.4 min
Source: U.S. Census Bureau ACS
What are homes worth in Lakeland?
Zillow home value
$415,426
Price-to-income
4.1x
Source: Zillow Research
What is it like to live in Lakeland?
Lakeland is a community of approximately 2K residents with a median age of 52.7 years.The median household income is $101,339, which reflects a relatively affluent area with strong earning potential. 46.2% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 85.6%, reflecting strong community stability and long-term resident commitment. The average commute time is 24.4 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Lakeland offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Lakeland?
1 schools tracked · 457 students
The largest public schools serving Lakeland, 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.
AFTON-LAKELAND ELEMENTARY
Grades K-5 · 457 students
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 Lakeland, MN?
Want a head-to-head view? Compare Lakeland side-by-side with any other U.S. city using our market-comparison tool.
Frequently asked questions
What is the average home price in Lakeland?
The median home sale price in Lakeland is $375,000, down 45.4% from last year.
How long do homes stay on market in Lakeland?
Homes typically spend 14 days on market before going under contract.
What is the median income in Lakeland?
The median household income is $101,339 per year.
Is Lakeland a buyer's or seller's market?
With 0.3 months of supply, Lakeland is currently a strong seller's market.
What is the Zillow home value estimate for Lakeland?
The Zillow Home Value Index (ZHVI) for Lakeland is $415,426, representing the typical home value in the area.
How much does a single-family home cost in Lakeland?
The median single-family home price in Lakeland, MN is $375,000 (about $244 per square foot).
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