Is Lake Park, MN 56554 a buyer’s or seller’s market?

Seller’s market 3 months ending August 31, 2026 · Source: Redfin

Lake Park is a seller’s market. With about 3 months of supply and 21% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.

Months of supply3Under 4 months = seller’s market

Sold above original list21.4%Share of sales, last 3 months

Median sale-to-list97.1%Sold price ÷ list price

Median days on market17Listing to accepted offer

Median price per sq ft$307▲ +28.9% vs. last year

Run the numbers for 56554

Prefilled for 56554Can I win this house?Multiple-offer likelihood for a listing Prefilled for 56554Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Audubon 56511Seller’s market $261 /sq ft Callaway 56521Seller’s market $258 /sq ft Detroit Lakes 56501Balanced $217 /sq ft Frazee 56544Balanced $189 /sq ft Browse all markets →

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