Lutsen Housing Market Report May 2025•Cook County, Minnesota

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Housing Prices in Lutsen, MN

How much do homes in Lutsen, MN cost?

Housing Market Conditions

Is Lutsen, MN a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Lutsen is a Seller's Market

Difference Since April 2025

Last month, Lutsen has remained a Seller's Market.

Insight

Lutsen is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$492,500$273/SqFt
-$252,400
-33.9%

Based on all homes sold in May 2025

Insight

Homes in Lutsen have sold for 33.9% less than they did a month ago.

Summary: The median home sold price in Lutsen was $492,500 in May 2025, down 33.9% from last month, and the median price per square foot was $273.

Median Sold Price By Cities

Median Sold Price By Cities
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange MoM
Tofte
-16.3%
West Cook
-23.4%
Lutsen
-33.9%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsApr 2025May 2025Change MoM
1--
N/A
2--
N/A
3$852.5K$492.5K
-42.2%
4--
N/A
5$744.9K-
N/A

Summary: Lutsen housing price by bedroom type for May 2025, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes decreased by -42.2%. The home price for 4 bedroom homes did not change. The home price for 5 bedroom homes did not change.

How does Lutsen, MN compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Lutsen, MN

Housing supply in Lutsen, MN

How many homes are available in Lutsen, MN?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
4Last MonthMay 2025
72 months agoApr 2025
-42.9 %
Change MoMApr – May

Summary: The Lutsen real estate market had 4 homes for sale in May 2025, a 42.9 % decrease compared to Apr 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
2Last MonthMay 2025
42 months agoApr 2025
-50.0 %
Change MoMApr – May

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsApr 2025May 2025Change MoM
100
0.0%
201
+100.0%
342
-50.0%
411
0.0%
520
-100.0%

Summary: Lutsen housing inventory by bedroom type for May 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +100.0%. The inventory for 3 bedroom homes decreased by -50.0%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes decreased by -100.0%.

Asking Price vs. Sold Price

How much do homes in Lutsen, MN cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price0 Home

At Asking Price0 Home

Under Asking Price2 Homes

Insight

If you're buying a home in Lutsen, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Lutsen in May 2025, down by 50.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and and 0% were sold over asking.

Days on Market for Lutsen, MN

How long does it take to sell a home in Lutsen, MN?

Breakdown of Home Sale Times

Under 30 Days0 Home

30 – 90 Days2 Homes

Over 90 Days0 Home

Insight

Avg time on Rocket Homes in Lutsen has remained consistent over time.

Summary: During May 2025, 2 homes were sold in Lutsen; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
Last Month1 month agoChange MoM
58 DaysLast MonthMay 2025
27 Days1 month agoApr 2025
+112.8 %
Change MoMApr – May

Summary: Homes in Lutsen had an average listing age of 58 days in May 2025, up by 112.8% compared to the previous month.

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Newest Listings in Lutsen, MN

What homes are available in Lutsen, MN?

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Nearby markets aren't available for Lutsen, MN

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MLS Disclaimers and Copyright

Based on information from Lake Superior Area MLS, for the period 04/01/2025 - 06/01/2025

IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Information is supplied by seller and other third parties and has not been verified. ©2025 Lake Superior Area REALTORS® MLS - All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/6/2025, 7:45:28 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.