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Featured local agent — Round Lake, MN
Sarah Mitchell
Compass Real Estate · Round Lake, MN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Round Lake, MN Housing Market
The typical home in Round Lake, MN is worth $174,812, rose 11.4% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $103,000 (through May 2026). With homes going under contract in about 90 days, Round Lake is a buyer's market. At today's 7.03% 30-year fixed rate, 20% down on a $174,812 home is about $933/mo in principal and interest.
Key numbers for Round Lake, MN
Typical home value
$174,812
+11.4% in 12 months
Zillow, August 2026
Median sale price
$103,000
Last published period
Redfin, through April 2026
Days on market
90
Slow-moving
Redfin, through April 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$63,661
Home costs 2.7x income
U.S. Census ACS, 2023
Sale-to-list ratio
89.6%
Selling below asking
Redfin, through April 2026
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 Round Lake a buyer's or seller's market?
Round Lake, MN is a buyer's market and homes selling in about 90 days. We classify markets from months of supply, sale-to-list ratio and days on market together — no single number decides it.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Round Lake housing market data show?
Every row below is Redfin's final published month for Round Lake, MN. Redfin, through April 2026
| Metric | Value |
|---|---|
| Median sale price | $103,000 |
| Median price per sq ft | $77/sq ft |
| Median days on market | 90 days |
| Sale-to-list price ratio | 89.6% |
| Homes sold (that month) | 1 |
| Market condition | Buyer'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 Round Lake is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Round Lake 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 Round Lake home prices moved?
Across the 19 months we hold for Round Lake, MN, the median sale price fell 29.5%, from $146,000 in May 2021 to $103,000. The live Zillow value series has rose 11.4% in the last 12 months, which is the more current read now that Redfin's series has stopped.
Redfin, through April 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Round Lake?
Priced off the typical home value of $174,812 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% | $34,962 | $139,849 | $933/mo |
| 5% | $8,741 | $166,071 | $1,108/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 $933, that implies roughly $39,996 a year before you add taxes and insurance. The median household in Round Lake earns $63,661, about $23,665 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 2.7x — close to the historical 3x norm, which is unusual in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Round Lake in the next 12 months?
Tell us your timeline. We send the Round Lake 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 Round Lake?
Zillow does not publish a rent index (ZORI) for Round Lake, 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 Round Lake?
Active listings in Round Lake, MN went from 2 in May 2021 to 1 in February 2026, a -50.0% change. Falling inventory tightens competition. When supply drops while demand holds, sale-to-list ratios rise before the median sale price does.
| Month | Active listings | New listings |
|---|---|---|
| May 2021 | 2 | 1 |
| June 2021 | 1 | not published |
| July 2021 | 1 | not published |
| October 2022 | 1 | not published |
| November 2022 | 1 | not published |
| May 2024 | 2 | 2 |
| August 2024 | 3 | not published |
| March 2025 | 1 | 1 |
| May 2025 | 1 | 1 |
| August 2025 | 2 | 1 |
| November 2025 | 1 | 1 |
| February 2026 | 1 | not published |
Redfin, through February 2026
How does Round Lake compare to Minnesota and the U.S.?
Round Lake homes sell for $103,000 — 72% below the Minnesota median of $372,300. Against the national median of $410,700, Round Lake runs 75% lower.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Round Lake, MN | $103,000 | not published | 90 days |
| Minnesota statewide | $372,300 | +1.3% | 25 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through April 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Round Lake
What buyers should watch
- The gap between 5% and 20% down here is $175 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 $174,812 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 Round Lake listing goes under contract in 90 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 89.6% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- Your equity moved +11.4% 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 Round Lake varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Round Lake
Explore homes currently listed for sale in Round Lake, Minnesota across major real estate platforms.
How much do homes cost in Round Lake by property type?
How the Round Lake, MN market breaks down across single-family homes, condos and townhouses. Redfin, through April 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $103,000 | $77/sq ft | 1 | 90 days |
Who lives in Round Lake?
American Community Survey estimates for Round Lake. U.S. Census ACS, 2023
Population
383
Households
181
Median income
$63,661/yr
Median age
44.9 years
Owner-occupied
74.0%
Median home value
$87,800
Median gross rent
$593/mo
Mean commute
24.4 min
74.0% of occupied homes in Round Lake 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 $87,800 against Zillow's $174,812 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions.
Which cities are near Round Lake, MN?
Ordered by distance from Round Lake, not by size. Compare Round Lake side by side with any of them.
Round Lake housing market FAQ
Is Round Lake a buyer's or seller's market?
Round Lake, MN is currently a buyer's market based on the supply, pace-of-sale and sale-to-list data we hold for this city. Redfin's public market tracker last published in May 2026, so this classification will not move until a new source fills that gap.
How much do homes cost in Round Lake?
The typical home in Round Lake, MN is worth $174,812 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $103,000, about $77 per square foot.
Is Round Lake cheaper than the rest of Minnesota?
Round Lake's median sale price of $103,000 is 72% lower than the Minnesota statewide median of $372,300, and 75% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Round Lake?
Homes in Round Lake, MN spent a median of 90 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 Round Lake?
At the current 30-year fixed rate of 7.03%, 20% down on a $174,812 home is about $933 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $39,996 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $63,661.
Are home prices rising in Round Lake?
The typical home value in Round Lake, MN rose 11.4% over the last 12 months, from $156,932 to $174,812 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Round Lake?
Round Lake 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 Round Lake?
That depends on your timeline, not on a headline. What the data says today: Round Lake, MN is a buyer's market, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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