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Featured local agent — Lakeland Shores, MN
Sarah Mitchell
Compass Real Estate · Lakeland Shores, MN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Lakeland Shores, MN Housing Market
The typical home in Lakeland Shores, MN is worth $526,239, rose 2.3% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $610,000 (through May 2026). With 1.0 months of supply and homes going under contract in about 98 days, Lakeland Shores is a seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $526,239 home is about $2,809/mo in principal and interest.
Key numbers for Lakeland Shores, MN
Typical home value
$526,239
+2.3% in 12 months
Zillow, August 2026
Median sale price
$610,000
Last published period
Redfin, through September 2025
Days on market
98
Slow-moving
Redfin, through September 2025
Active listings
1
1.0 months of supply
Redfin, through September 2025
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$136,875
Home costs 3.8x income
U.S. Census ACS, 2023
Sale-to-list ratio
96.8%
Selling below asking
Redfin, through September 2025
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Lakeland Shores a buyer's or seller's market?
Lakeland Shores, MN is a seller's market, based on 1.0 months of supply and homes selling in about 98 days. Under 2 months of supply is a severe shortage: expect competition on almost anything priced correctly, and little room to negotiate below asking.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Lakeland Shores housing market data show?
Every row below is Redfin's final published month for Lakeland Shores, MN. Redfin, through September 2025
| Metric | Value |
|---|---|
| Median sale price | $610,000 |
| Median price per sq ft | $198/sq ft |
| Median days on market | 98 days |
| Active inventory | 1 listings |
| Months of supply | 1.0 months |
| Sale-to-list price ratio | 96.8% |
| Homes sold (that month) | 1 |
| Listings with a price cut | 100.0% |
| Market condition | Seller's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Lakeland Shores is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Lakeland Shores is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Lakeland Shores home prices moved?
Across the 8 months we hold for Lakeland Shores, MN, the median sale price rose 2.5%, from $595,000 in April 2021 to $610,000. The live Zillow value series has rose 2.3% in the last 12 months, which is the more current read now that Redfin's series has stopped. 100.0% of Lakeland Shores listings cut their asking price in the final Redfin month — a high share, and the clearest sign that list prices were running ahead of what buyers would pay. For prices to fall meaningfully from here, supply would have to keep building past 1.0 months while the sale-to-list ratio slips below its current 96.8%. Watch those two together — they move before the median does.
Redfin, through September 2025 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Lakeland Shores?
Priced off the typical home value of $526,239 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $105,248 | $420,991 | $2,809/mo |
| 5% | $26,312 | $499,927 | $3,336/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $2,809, that implies roughly $120,401 a year before you add taxes and insurance. The median household in Lakeland Shores earns $136,875, about $16,474 more than that threshold — the typical local household clears the payment on a typical local home with 20% down. That puts the price-to-income ratio at 3.8x — above the historical 3x norm but in line with much of the country in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Lakeland Shores in the next 12 months?
Tell us your timeline. We send the Lakeland Shores market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Lakeland Shores?
Zillow does not publish a rent index (ZORI) for Lakeland Shores, MN, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in Lakeland Shores?
We hold fewer than two months of inventory readings for Lakeland Shores, MN, so there is no trend to report yet. The most recent count we have is 1 active listings (Redfin, through May 2026).
How does Lakeland Shores compare to Minnesota and the U.S.?
Lakeland Shores homes sell for $610,000 — 64% above the Minnesota median of $372,300. Against the national median of $410,700, Lakeland Shores runs 49% higher.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Lakeland Shores, MN | $610,000 | not published | 98 days |
| Minnesota statewide | $372,300 | +1.3% | 25 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through September 2025 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Lakeland Shores
What buyers should watch
- Months of supply, currently 1.0. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 100.0%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $527 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $526,239 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Lakeland Shores listing goes under contract in 98 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 96.8% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- Your equity moved +2.3% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Lakeland Shores varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Lakeland Shores
There are currently 1 homes listed for sale in Lakeland Shores, Minnesota.
Active listings
1
Homes on market
Avg. days on market
98
Days until sale
How much do homes cost in Lakeland Shores by property type?
How the Lakeland Shores, MN market breaks down across single-family homes, condos and townhouses. Redfin, through September 2025
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $610,000 | $198/sq ft | 1 | 98 days |
Who lives in Lakeland Shores?
American Community Survey estimates for Lakeland Shores. U.S. Census ACS, 2023
Population
371
Households
125
Median income
$136,875/yr
Median age
38.5 years
Owner-occupied
93.6%
Median home value
$445,700
Mean commute
24 min
93.6% of occupied homes in Lakeland Shores are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $445,700 against Zillow's $526,239 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions.
Which cities are near Lakeland Shores, MN?
Ordered by distance from Lakeland Shores, not by size. Compare Lakeland Shores side by side with any of them.
Lakeland Shores housing market FAQ
Is Lakeland Shores a buyer's or seller's market?
Lakeland Shores, MN is currently a seller's market. That read comes from 1.0 months of supply, homes going under contract in about 98 days, and sellers getting 96.8% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Lakeland Shores?
The typical home in Lakeland Shores, MN is worth $526,239 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $610,000, about $198 per square foot.
Is Lakeland Shores cheaper than the rest of Minnesota?
Lakeland Shores's median sale price of $610,000 is 64% higher than the Minnesota statewide median of $372,300, and 49% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Lakeland Shores?
Homes in Lakeland Shores, MN spent a median of 98 days on market before going under contract, versus 25 days statewide. Over two months means buyers have time to inspect, compare and negotiate. (Redfin, through May 2026.)
What income do you need to buy a home in Lakeland Shores?
At the current 30-year fixed rate of 7.03%, 20% down on a $526,239 home is about $2,809 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $120,401 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $136,875.
Are home prices rising in Lakeland Shores?
The typical home value in Lakeland Shores, MN rose 2.3% over the last 12 months, from $514,341 to $526,239 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Lakeland Shores?
Lakeland Shores ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Lakeland Shores?
That depends on your timeline, not on a headline. What the data says today: Lakeland Shores, MN is a seller's market with 1.0 months of supply, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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One email: what homes are actually clearing at around $526,239, how long they sit, which ZIPs run cheaper, and what to fix on your credit before you apply.