Williamson-Russell-Rahilly House · Photo: McGhiever · CC BY-SA 3.083 homes sold in Lake City in the last year, at a typical $302K
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 Lake City homes are listed.
Every place Lake City 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 Lake City.
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 77% of Lake City’s sales, at a typical $299K (year to May 2026)
83 homes sold in the year to September 2026.
typical sale · 69 sold in the year to May 2026
- Per square foot
- $166MN $191
- Days to sell
- 39
- Sold over asking
- 23%
- Listings with a price cut
- 29%
Multi-family (2–4 units): 4 sold, typical $368K
Townhouses: 10 sold, typical $408K
Condos: 7 sold, typical $379K
Too few sales in 12 months for reliable figures.
About as many homes sell as usual, at 1.8 times the 2016 price
83 sales in the last year, against 117 in 2016 and a low of 50 in 2023. The typical sale went from $164K in 2016 to $302K.
Source: Redfin Data Center, MLS sales; from June 2026 each month is a 3-month rolling window, its counts divided by 3. Typical price and $/sq ft are the monthly medians, weighted by sales. Redfin stopped publishing towns’ figures by property type after May 2026, so houses and condos are shown for the year to then.
What $300K buys in Lake City
Check a listing against what Lake City 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 Lake City are more common than before the pandemic, but 19% fewer homes come up for sale
We read every month of Lake City’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 September 2026, 83 sales.
If you’re buying in Lake City
- Shop in May. It brings about 14 new listings a month, close to the busiest month, with fewer bidding wars (20% over asking).
- Offer under asking. Buyers paid 97.4% of the list price on average; 24% paid over.
- Move fast on good ones. Half of homes are under contract within two weeks.
Spring brings the homes; summer brings the bidding wars
April has the most new listings (about 15 a month), but June is the most competitive: 34% of June sales close over asking. February has the least competition (13%) but only about 7 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and about like Minnesota as a whole
| Lake City now | 2017–19 | 2021 peak | MN now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 24% | 19% | 44% | 29% |
| Gone within two weeksShare of homes under contract within 14 days | 53% | 17% | 57% | 40% |
| Price paid vs. askingAverage sale price ÷ list price | 97.4% | 97.1% | 99.9% | 99% |
| Days to sellMedian days from listing to contract | 37 | 75 | 27 | 38 |
32 homes for sale on a typical day
That’s 3.2 times the 2023 low (10), 19% fewer than in 2017–19 and well under 2012’s 57.
Since 2019, houses are up 49%, condos 46%
A house typically sold for $299K in the year to May 2026 (69 sales), a condo for $379K (7).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Lake City ranks 124th of 165 busy Minnesota markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Lake City is one of the state’s calmer markets.
Source: Redfin Data Center, city figures, January 2012 to September 2026 (MLS sales, not seasonally adjusted; from June 2026 each month is a 3-month rolling window, its counts divided by 3). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Lake City home costs about $1,869 a month
Price: Lake City’s typical sale, last 12 months. Property tax at Lake City’s 1.2% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Lake City is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in April
The month with the most choice. December has the fewest, about 4.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $302K home, about $3,520 a year.
Taxes vs. neighborsSchools
The schools grade for Lake City, from test results, graduation and how much students grow.
Schools in Lake CityTypical commute
The average one-way trip to work for people who live in Lake City.
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.
Wabasha, Red Wing, Durand, Plainview and Ellsworth sell for less a square foot
The busier markets within 25 miles of Lake City, 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 | |
|---|---|---|---|---|---|
| Red Wing | 252 | $272K | $153 | 27% | 45 |
| Lake City | 83 | $302K | $183 | 24% | 37 |
| Zumbrota | 65 | $343K | $181 | 23% | 42 |
| Wabasha | 53 | $284K | $162 | 20% | 60 |
| Ellsworth | 43 | $304K | $176 | 42% | 47 |
| Plainview | 42 | $284K | $154 | 35% | 39 |
| Durand | 32 | $196K | $120 | 24% | 66 |
Redfin Data Center, October 2025 to September 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Lake City, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Lake City. People who follow the town see it, and so do people comparing Lake City with their own town. No commission, no listing fee.
Questions about buying a home in Lake City
What do homes sell for in Lake City, MN?
83 homes sold in the year to September 2026 at a typical $302K, $183 a square foot.
Is Lake City a buyer’s or seller’s market?
A buyer’s market: 59 homes were for sale in September 2026 and 7 sold, about 8.1 months of supply. Buyers paid 97.4% of asking on average.
When is the best time to buy in Lake City?
April brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Lake City?
About 1.2% of a home’s value a year. On a $302K home that’s near $3,520.
Where can I see homes for sale in Lake City?
Zillow, Redfin, Realtor.com and Homes.com all carry Lake City’s MLS listings; the search links above open each one filtered to Lake City.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted; from June 2026 each month is a 3-month rolling window, its counts divided by 3). 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).