Minnesota Lake Home Market
This month’s lake read from Jim & Shannon
The Minnesota lake home market by the numbers: August through October 2026 sales of every Minnesota home NorthstarMLS marks waterfront, from the Twin Cities lakes to the Arrowhead, compared with the same months a year earlier. Updated monthly; this report ran November 2, 2026.
How’s the Minnesota Lake Home Market?
From August through October 2026, Minnesota lake homes sold for a median $574,500, up 9.4% from a year earlier, after a median 40 days on the market. With 3.6 months of supply, Minnesota’s lake market is a seller’s market, just barely.
About a quarter of Minnesota lake home sales spent 14 days or fewer on the market, and 46% of those homes sold over the asking price. Another quarter spent 83 days or more; 5% of those sold over asking.
Minnesota Lake Home Sales
- Median sale price: $574,500 (+9.4% vs. a year earlier)
- Avg. sale price: $772,683 (+12.0% vs. a year earlier)
- Homes sold: 1,476 (−4.5% vs. a year earlier)
- Median days on market: 40 (+2 days vs. a year earlier)
- Avg. sale-to-list: 97.1% (Same as a year earlier)
- Sold over asking: 20% (+2 pts vs. a year earlier)
- Median price per sq ft: $289 (+4.0% vs. a year earlier)
Closed sales from August through October 2026, compared with August through October 2025. Days on market is NorthstarMLS's count for each closed sale; sale-to-list is the average of each sale price divided by its final list price.
Lake homes here are every Minnesota home NorthstarMLS marks waterfront, on lakes and a few rivers, across 69 counties, the Twin Cities lakes and the Arrowhead included. The MLS rarely marked a home waterfront before 2024, so this report compares with a year earlier, not three.
Buyer’s or Seller’s Market for Lake Homes?
With 1,775 homes for sale on November 2, 2026 and 1,476 sold from August through October 2026, Minnesota’s lake market has 3.6 months of supply: a seller’s market. At 3.6 months of supply, it’s just under the 4-month line where a balanced market starts. Under 4 months is a seller’s market, 4 to 6 months is balanced, and over 6 months is a buyer’s market. 27% of the homes for sale in Minnesota’s lake market had a price cut.
Lake Home Months of Supply by Price
Months of supply for each price range: the homes for sale on the report date against the last three months of sales. The tighter the supply, the more a seller is in charge.
| Price range | For sale | Sold, 3 mo | Months of supply | Market |
|---|---|---|---|---|
| Under $250K | 152 | 127 | 3.6 | Seller’s |
| $250K–$350K | 220 | 180 | 3.7 | Seller’s |
| $350K–$500K | 348 | 294 | 3.6 | Seller’s |
| $500K–$750K | 402 | 412 | 2.9 | Seller’s |
| $750K and up | 653 | 463 | 4.2 | Balanced |
In Minnesota’s lake market, homes from $500K to $750K have the least supply (2.9 months) and homes at $750K and up the most (4.2 months).
Minnesota Lake Home Sales by County
Hennepin County had 143 of the 1,476 sales (10%), at a median $1,139,000.
Closed sales by county for the report’s three months (counties with at least 3), the median price against the same months a year earlier (shown when both had at least 20 sales), and the homes for sale on the report date.
| County | Homes sold | Median sale price | For sale |
|---|---|---|---|
| Hennepin County | 143 | $1,139,000 (+9.4% vs. 2025) | 170 |
| Crow Wing County | 142 | $682,500 (+5.0% vs. 2025) | 134 |
| Cass County | 98 | $575,000 (−2.5% vs. 2025) | 107 |
| Itasca County | 71 | $360,000 (About flat vs. 2025) | 76 |
| Otter Tail County | 71 | $505,000 (+6.3% vs. 2025) | 147 |
| Hubbard County | 58 | $494,950 (+16.5% vs. 2025) | 60 |
| Wright County | 57 | $649,500 (+14.7% vs. 2025) | 55 |
| Aitkin County | 51 | $475,000 (+16.1% vs. 2025) | 56 |
| Stearns County | 49 | $435,000 (About flat vs. 2025) | 48 |
| Becker County | 46 | $672,500 (+30.6% vs. 2025) | 74 |
| Washington County | 45 | $682,000 (−6.2% vs. 2025) | 33 |
| Anoka County | 44 | $525,000 (−2.4% vs. 2025) | 35 |
Minnesota Lake Home Prices by Lake
Minnetonka had the most lake home sales, 61 at a median $1,800,000, then Mille Lacs (27) and Leech (15).
The 15 lakes with the most sales in the report’s three months, plus every other lake with 3 or more sales and its own page on this site (linked), most sales first: its median sale price (shown with 5 or more sales), the lake homes for sale on it now, and its size in acres. Lakes are matched by the state’s lake ID, so the many lakes that share a name stay apart.
| Lake | County | Homes sold | Median sale price | For sale | Acres |
|---|---|---|---|---|---|
| Minnetonka | Hennepin County | 61 | $1,800,000 | 81 | 14,206 |
| Mille Lacs | Mille Lacs County | 27 | $419,900 | 37 | 128,251 |
| Leech | Cass County | 15 | $805,000 | 20 | 103,040 |
| Vermilion | St. Louis County | 14 | $845,000 | 27 | 39,272 |
| Pelican | Crow Wing County | 12 | $1,020,000 | 10 | 8,367 |
| Forest | Washington County | 10 | $862,450 | 6 | 2,271 |
| Big Sandy | Aitkin County | 9 | $725,000 | 8 | 9,380 |
| Gull | Cass County | 9 | $1,600,000 | 8 | 10,010 |
| Detroit | Becker County | 8 | $939,500 | 17 | 3,089 |
| Green | Kandiyohi County | 8 | $987,500 | 8 | 5,569 |
| Pokegama | Itasca County | 8 | $679,950 | 7 | 6,721 |
| Whitefish Lake | Crow Wing County | 8 | $2,020,000 | 5 | 7,714 |
| Pokegama | Pine County | 7 | $510,000 | 3 | 1,521 |
| White Bear | Washington County | 7 | $1,650,000 | 0 | 2,428 |
| Lobster | Douglas County | 6 | $845,000 | 1 | 1,334 |
| Bemidji | Beltrami County | 5 | $549,000 | 7 | 6,581 |
| Long Lake | Hubbard County | 5 | $680,000 | 2 | 1,926 |
| Osakis | Todd County | 5 | $425,000 | 5 | 6,389 |
| Belle Taine | Hubbard County | 4 | — | 3 | 1,497 |
| Maple | Polk County | 4 | — | 10 | 1,641 |
| Otter Tail | Otter Tail County | 4 | — | 13 | 14,079 |
| Pelican | Otter Tail County | 4 | — | 14 | 3,962 |
| Sallie | Becker County | 4 | — | 2 | 1,287 |
| West Battle | Otter Tail County | 4 | — | 9 | 5,615 |
| Woman | Cass County | 4 | — | 5 | 5,520 |
| Minnewawa | Aitkin County | 3 | — | 3 | 2,451 |
| Round Lake | Becker County | 3 | — | 1 | 1,163 |
| Rush-Hen | Crow Wing County | 3 | — | 9 | 858 |
Minnesota Lake Homes for Sale
The newest Minnesota lake homes for sale, nearest Fargo-Moorhead first, live from NorthstarMLS.
1318 County Highway 25, Hendrum, MN — $349,900 · Est. $1,908/mo · House for Sale · Rambler · Waterfront · Acreage · 3 bed · 2 bath · 1,916 sqft · 54.5 ac lot · ~35 min from Fargo · Active · M Premiere · Listed by Home Crown Realty LLC
51509 County Highway 9, Pelican Rapids, MN — $995,000 · Est. $5,425/mo · House for Sale · Two Story · Pelican Lake · 4 bed · 4 bath · 3,680 sqft · 1.35 ac lot · ~45 min from Fargo · Active · M Premiere · Listed by Counselor Realty Detroit Lakes
43150 Shenandoah Loop, Dent, MN — $450,000 · Est. $2,453/mo · House for Sale · Two Story · Hoffman Lake · 3 bed · 2 bath · 2,356 sqft · 1.044 ac lot · ~65 min from Fargo · Active · Listed by Keller Williams Classic Rlty NW
29747 Silent Shore Drive, Dent, MN — $350,000 · Est. $1,908/mo · ▼ $35,000 (9%) off, was $385,000, reduced 3 weeks ago · House for Sale · Rambler · West Silent Lake · 3 bed · 1 bath · 768 sqft · 0.839 ac lot · ~65 min from Fargo · Active · M Markdowns · Listed by Dakota Plains Realty
46025 Lands End Road, Vergas, MN — $450,000 · Est. $2,453/mo · House for Sale · Rambler · Loon Lake · 3 bed · 2 bath · 1,352 sqft · 0.451 ac lot · ~65 min from Fargo · Active · M Premiere · Listed by RE/MAX Legacy Realty
21715 Bay View Road, Osage, MN — $875,000 · Est. $4,770/mo · House for Sale · Rambler · Toad Lake · Acreage · 3 bed · 2 bath · 2,588 sqft · 3.4 ac lot · ~80 min from Fargo · Active · M Premiere · Listed by REAL (405 FGO)
See all Minnesota lake homes for sale
More Minnesota Lake Real Estate
- Minnesota Lake Homes & Cabins
- Waterfront Homes for Sale
- Minnesota Real Estate Housing Market
- Homes for Sale in Minnesota
What’s Your Lake Home Worth?
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Minnesota Lake Home Market FAQs
Is it a buyer's or seller's market for Minnesota lake homes?
Minnesota’s lake market is a seller’s market, just barely, with 3.6 months of supply in the report run November 2, 2026: 1,775 lake homes for sale against 1,476 sold from August through October 2026. Under 4 months is a seller’s market, 4 to 6 months is balanced, and over 6 months is a buyer’s market.
What is the median price of a lake home in Minnesota?
Minnesota lake homes sold for a median $574,500 from August through October 2026, up 9.4% from a year earlier. The median list price of the lake homes for sale on November 2, 2026 was $599,000.
Which Minnesota lakes have the most lake home sales?
From August through October 2026: Minnetonka (61 sales, a median $1,800,000), Mille Lacs (27 sales, a median $419,900), and Leech (15 sales, a median $805,000).
Where in Minnesota do lake homes sell the most?
By county, from August through October 2026: Hennepin County (143 sales, a median $1,139,000), Crow Wing County (142 sales, a median $682,500), and Cass County (98 sales, a median $575,000).
How fast do Minnesota lake homes sell?
Minnesota lake homes that sold from August through October 2026 spent a median 40 days on the market (38 a year earlier). 20% sold for more than the asking price.
How often is this Minnesota lake home market report updated?
Once a month. On the second Sunday of each month we take the last three full months of Minnesota lake home sales from NorthstarMLS, compare them with the same months a year earlier, and count the lake homes for sale that day. The numbers stay the same until the next month's report.
Source: NorthstarMLS closed sales and listings, as distributed by MLS Grid. Months of supply: homes for sale divided by the last three months of sales, times three. Lake homes: listings NorthstarMLS marks waterfront; each lake’s name, acreage and state lake ID come from the MLS lake record.
Listings courtesy of NorthstarMLS as distributed by MLS GRID
Based on information submitted to the MLS GRID as of 11/12/2026, 1:19 PM CST. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Modern Market REALTORS® — Jim Christl (Broker) & Shannon Barnum (Associate Broker). Serving Fargo, Moorhead, West Fargo, Horace, Detroit Lakes, and Minnesota lake country. Call (701) 205-5517.