Pequot Lakes Housing Market Report February 2025•Crow Wing County, Minnesota

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Housing Prices in Pequot Lakes, MN

How much do homes in Pequot Lakes, MN cost?

Housing Market Conditions

Is Pequot Lakes, 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

Pequot Lakes is a Buyer's Market

Difference Since February 2024

At the same time last year, Pequot Lakes was a Neutral Market.

Insight

Pequot Lakes is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

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.
$381,000$236/SqFt
-$34,000
-8.2%

Based on all homes sold in the last 12 months

Insight

Homes in Pequot Lakes have sold for 8.2% less than they did a year ago.

Summary: The median home sold price in Pequot Lakes was $381,000 in February 2025, down 8.2% from last year, and the median price per square foot was $236.

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 YoY
Pequot Lakes
-8.2%
Pequot Lakes
-8.5%

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.
BedsFeb 2024Feb 2025Change YoY
1$240K$195K
-18.8%
2$291K$300K
+3.1%
3$400.5K$384.5K
-4.0%
4$460K$435K
-5.4%
5$629K$625K
-0.6%

Summary: Pequot Lakes housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes decreased by -18.8%. The home price for 2 bedroom homes increased by +3.1%. The home price for 3 bedroom homes decreased by -4.0%. The home price for 4 bedroom homes decreased by -5.4%. The home price for 5 bedroom homes decreased by -0.6%.

Housing supply in Pequot Lakes, MN

How many homes are available in Pequot Lakes, 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
81Last MonthFeb 2025
642 months agoJan 2025
+26.6 %
Change MoMJan – Feb

Summary: The Pequot Lakes real estate market had 81 homes for sale in Feb 2025, a 26.6 % increase compared to Jan 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
7Last MonthFeb 2025
32 months agoJan 2025
+133.3 %
Change MoMJan – Feb

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.
BedsJan 2025Feb 2025Change MoM
21216
+33.3%
599
0.0%
134
+33.3%
32127
+28.6%
41925
+31.6%

Summary: Pequot Lakes housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 2 bedroom homes increased by +33.3%. The inventory for 5 bedroom homes remained the same. The inventory for 1 bedroom homes increased by +33.3%. The inventory for 3 bedroom homes increased by +28.6%. The inventory for 4 bedroom homes increased by +31.6%.

Asking Price vs. Sold Price

How much do homes in Pequot Lakes, 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 Price1 Home

At Asking Price4 Homes

Under Asking Price2 Homes

Insight

If you're buying a home in Pequot Lakes, expect to pay close to the asking price. 57.1% of homes here sold near the asking price last month.

Summary: A total of 7 homes were sold or pending in Pequot Lakes in February 2025, up by 133.3% month-over-month. Of the 7 sold homes, 29% were sold under asking, 57% were sold at asking, and and 14% were sold over asking.

Days on Market for Pequot Lakes, MN

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

Breakdown of Home Sale Times

Under 30 Days0 Home

30 – 90 Days3 Homes

Over 90 Days4 Homes

Insight

Most homes in Pequot Lakes are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2025, 7 homes were sold in Pequot Lakes; 0% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 57% 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.
This Year1 year agoChange YoY
86 DaysThis YearFeb 2025
46 Days1 year agoFeb 2024
+88.2 %
Change YoYFeb 2024 – Feb 2025

Summary: Homes in Pequot Lakes had an average listing age of 86 days in Feb 2025, up by 88.2% compared to the previous year.

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Newest Listings in Pequot Lakes, MN

What homes are available in Pequot Lakes, MN?

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Last updated on: 3/2/2025, 11:52:48 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.