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Dynamic.RE · SFR Market Intelligence

Lakeville, Minnesota Housing Market

Prices, inventory, and demand — distilled every month into one clear verdict: buyer’s market or seller’s. The investor’s read, before you make an offer.

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Data through June 2026
Dynamic.RE Verdict
Buyer's Market
Under 0.90 buyers per home for sale, sellers compete for buyers. Lakeville sits at 0.69, with 22% of sellers already cutting their price.
Median list price
$591,215
+0.5%
Demand : Supply
0.69
Days on market
45 days
Time to go under contract

Yes, if you negotiate. Buyers have the upper hand in Lakeville right now.

You have the upper hand in Lakeville. Most homes for sale still have no buyer. Many sellers have already dropped their price once. Sellers are competing for you. Use it.

01
The market at a glance
Median $ / sqft
$211
Active inventory
268
New listings / mo
170
Days on market
45 days
Price-cut share
21.8%
Pending sales
184
02
Where we are in the cycle
Median asking price
$591,215
4% below the Mar 2026 peak of $617K
Homes for sale
268
2.7× the Feb 2022 low of 99
Days to sell
45 days
1.7× slower than the 26-day Mar 2022 low
03
The renter economy
12%
Renter share · of occupied homes
2.7%
Vacant homes · all units
$141.6K
Median household income
4.2×
Price-to-income · list ÷ income
04
What this means for investors

How much can you negotiate in Lakeville?

Only 69 out of every 100 homes for sale have found a buyer. The other 31 are still waiting. Your offer may be the only one on the table. About 1 in 5 sellers has already dropped their price. Each one has learned their first price was too high. Start below their new price, not their old one.

A typical Lakeville home takes 45 days to find a buyer. Half of them take even longer. That is 25% slower than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 60+ days ago. There are 268 homes for sale in Lakeville. That is 2.7 times the tightest month on record, but below the peak of 303. Supply is growing against last year.

What to do about it

  • Search Lakeville homes listed 60+ days ago that have already cut their price.
  • Offer below the reduced price.
  • Keep your inspection and financing contingencies.
  • Ask the seller to pay closing costs.
  • You can lose a few offers here and still win.

Is now a good time to buy in Lakeville?

Asking prices are 4.2% below their Mar 2026 peak. You are not buying at the top. Prices stopped falling about a year ago. They are flat now. Waiting will not get you a cheaper house. It might still get you a more motivated seller. Lakeville prices have risen in 83 of the last 108 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.

The discount is already here. It is not getting bigger. Buy now while sellers are still weak. Waiting for a lower price stopped working a year ago.

Who will rent from you in Lakeville?

Only 12 out of every 100 Lakeville households rent. This is an owners' town. The renter share is shrinking. Five years ago it was 14 in 100. Renter households average 2.1 people. Singles and couples rent here. Two bedrooms beat four.

Households grew 18% in five years. The housing stock grew 19%. The two are moving in step. Just 2.7% of homes sit empty. A well-priced rental fills fast here.

The median Lakeville household earns $141,551 a year. Incomes here have grown 4.2% a year since 2019. Incomes and home prices are rising in step. A typical home costs 4.2 times the median income. That is the national middle. Neither cash flow nor appreciation is free here. A tenant on the median income can pay about $3,539 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast.

That is the market, not your address. Run an address through the app to see its rent estimate and cash flow.

What numbers should you underwrite a Lakeville deal with?

  • Price growth to assume — +3.2%/yr. Lakeville has grown about 3.2% a year for five years and for ten. That is a durable trend, not a boom artifact. It is a fair long-run input. Prices were flat over the last year.
  • Months of carrying cost — 2. A typical home takes 45 days to sell. Budget that long when you exit or refinance. It is 25% slower than a year ago.
  • Odds you cut your price to sell — 1 in 5. About 22% of homes on the Lakeville market right now have already cut their asking price. Assume you are one of them when you sell. Do not underwrite an exit at your asking price.
  • Comp on this, not median price — $211/sqft. The average listing runs +9% above the median. Luxury homes skew it. Comp your own size class per sqft.
  • Competition when you exit — +19%. That is how much the number of homes for sale grew in a year. Your resale will face a bigger crowd than today's comps did.
  • Price-to-income ratio — 4.2×. A typical home costs 4.2 times the median income. That is the national middle. Neither cash flow nor appreciation is free here. Incomes and home prices are rising in step.
  • Tenant rent ceiling — $3,539/mo. 30% of the median household income of $141,551. Rents above this line shrink your tenant pool fast.
05
Frequently asked questions

Is Lakeville a buyer's or seller's market in 2026?

Yes, if you negotiate. Buyers have the upper hand in Lakeville right now. 69 out of every 100 homes for sale have a buyer, 22% of sellers have cut their price, and a typical home takes 45 days to sell.

Are Lakeville home prices going up or down?

Asking prices are 4.2% below their Mar 2026 peak. You are not buying at the top. Prices stopped falling about a year ago. They are flat now. Waiting will not get you a cheaper house. It might still get you a more motivated seller.

What price growth should I assume for Lakeville?

Assume +3.2% a year. Lakeville has grown about 3.2% a year for five years and for ten. That is a durable trend, not a boom artifact. It is a fair long-run input. Prices were flat over the last year.

How fast are homes selling in Lakeville?

A typical Lakeville home takes 45 days to find a buyer. Half of them take even longer. That is 25% slower than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 60+ days ago.

Is Lakeville a renters' market or an owners' market?

Only 12 out of every 100 Lakeville households rent. This is an owners' town. The renter share is shrinking. Five years ago it was 14 in 100. Just 2.7% of homes sit empty. A well-priced rental fills fast here.

What rent can Lakeville tenants afford?

A tenant on the median income can pay about $3,539 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast. The median Lakeville household earns $141,551 a year.

06
ZIP-level detail

Which ZIP codes are in Lakeville?

Lakeville has one ZIP code. It links to its live market dashboard.

  • 55044268 for sale · 22% cutting · 45 daysOnly 69 out of 100 homes here have a buyer.
07
Where else to look

Markets similar to Lakeville

Closest matches on asking price, price per square foot, days to sell, buyer demand, and price cuts.

See what a Lakeville property is actually worth
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