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Is Lake City, MN 55041 a buyer’s or seller’s market?

Balanced 3 months ending August 31, 2026 · Source: Redfin

Lake City is a balanced market. With about 5.7 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Competition score46/ 100

More competitive than 46% of U.S. ZIP codes, and #244 of 296 in the state.

Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown

Months of supply5.7Under 4 months = seller’s market
Sold above original list27.6%Share of sales, last 3 months
Median sale-to-list97.7%Sold price ÷ list price
Median days on market28Listing to accepted offer
Median price per sq ft$221▲ +23.3% vs. last year

Run the numbers for 55041

Prefilled for 55041Can I win this house?Multiple-offer likelihood for a listing Prefilled for 55041Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Kellogg 55945Buyer’s market $176 /sq ftMazeppa 55956Balanced $188 /sq ftMillville 55957 $258 /sq ftPlainview 55964Seller’s market $172 /sq ft Browse all markets →

More tools for 55041

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology