Photo: Lectrician2 · CC BY-SA 4.0290 homes sold in Forest Lake in the last year, at a typical $417K
About one sale in 5 is a condo. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Forest Lake homes are listed.
Every place Forest Lake homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Forest Lake.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
Houses are 80% of Forest Lake’s sales, at a typical $445K
290 homes sold in the year to May 2026.
typical sale · 232 sold in 12 months
- Per square foot
- $202MN $191
- Days to sell
- 35
- Sold over asking
- 37%
- Listings with a price cut
- 35%
Multi-family (2–4 units): 1 sold, typical $340K
Townhouses: 55 sold, typical $297K
Condos: 2 sold, typical $325K
Too few sales in 12 months for reliable figures.
About as many homes sell as usual, at 1.8 times the 2016 price
290 sales in the last year, against 420 in 2020 and a low of 252 in 2023. The typical sale went from $228K in 2016 to $417K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $400K buys in Forest Lake
Check a listing against what Forest Lake homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Forest Lake are back to pre-pandemic levels, but a quarter fewer homes come up for sale
We read every month of Forest Lake’s home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 290 sales.
If you’re buying in Forest Lake
- Shop in March. It brings about 41 new listings a month, close to the busiest month, with fewer bidding wars (36% over asking).
- You can negotiate. 36% of listings have cut their price, against 25% before the pandemic.
- Bid near asking. Buyers paid 99.8% of the list price on average; 34% paid over.
- You’ll usually have time. Only 36% of homes go under contract within two weeks; the typical one takes 36 days.
Spring brings both the most homes and the most bidding wars
May has the most new listings (about 48 a month), and the most competition: 41% close over asking. March offers nearly as much choice with fewer homes bid up (36%). January has the least competition (25%) but only about 21 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and about like Minnesota as a whole
| Forest Lake now | 2017–19 | 2021 peak | MN now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 34% | 31% | 59% | 33% |
| Gone within two weeksShare of homes under contract within 14 days | 36% | 46% | 57% | 42% |
| Listings with a price cutShare of homes for sale that cut their price | 36% | 25% | 18% | 28% |
| Price paid vs. askingAverage sale price ÷ list price | 99.8% | 99.3% | 102.6% | 99.2% |
| Days to sellMedian days from listing to contract | 36 | 35 | 19 | 35 |
60 homes for sale on a typical day
That’s 1.4 times the 2022 low (43), 21% fewer than in 2017–19 and well under 2013’s 141.
1 in 3 listings has cut its price
36% in the last year, against 25% in 2017–19 and 28% across Minnesota. More sellers are pricing high and coming down.
Forest Lake ranks 62nd of 144 busy Minnesota markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Forest Lake is in the middle of the pack.
Source: Redfin Data Center, city market tracker, January 2012 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Forest Lake home costs about $2,507 a month
Price: Forest Lake’s typical sale, last 12 months. Property tax at Forest Lake’s 1% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Forest Lake is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in May
The month with the most choice. December has the fewest, about 12.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $417K home, about $3,980 a year.
Taxes vs. neighborsSchools
The schools grade for Forest Lake, from test results, graduation and how much students grow.
Schools in Forest LakeTypical commute
The average one-way trip to work for people who live in Forest Lake.
Work & commuteCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
No busy market nearby sells for less a square foot
The busier markets within 25 miles of Forest Lake, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Hugo | 356 | $443K | $202 | 23% | 45 |
| Forest Lake | 290 | $417K | $195 | 34% | 36 |
| Wyoming | 110 | $449K | $215 | 33% | 33 |
| Chisago City | 79 | $438K | $210 | 44% | 29 |
| Centerville | 55 | $466K | $200 | 45% | 35 |
| Scandia | 36 | $568K | $238 | 31% | 66 |
| Columbus | 27 | $517K | $231 | 30% | 34 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Forest Lake, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Forest Lake. People who follow the town see it, and so do people comparing Forest Lake with their own town. No commission, no listing fee.
Questions about buying a home in Forest Lake
What do homes sell for in Forest Lake, MN?
290 homes sold in the year to May 2026 at a typical $417K, $195 a square foot.
Is Forest Lake a buyer’s or seller’s market?
A seller’s market: 66 homes were for sale in May 2026 and 31 sold, about 2.1 months of supply. Buyers paid 99.8% of asking on average, and 36% of listings cut their price.
When is the best time to buy in Forest Lake?
May brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Forest Lake?
About 1% of a home’s value a year. On a $417K home that’s near $3,980.
Where can I see homes for sale in Forest Lake?
Zillow, Redfin, Realtor.com and Homes.com all carry Forest Lake’s MLS listings; the search links above open each one filtered to Forest Lake.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).