Photo: Gabriel Vanslette · CC BY 3.0249 homes sold in Lake Elmo in the last year, at a typical $669K
Almost every sale is a house. 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 Elmo homes are listed.
Every place Lake Elmo 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 Elmo.
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 94% of Lake Elmo’s sales, at a typical $664K (year to May 2026)
249 homes sold in the year to September 2026.
typical sale · 240 sold in the year to May 2026
- Per square foot
- $237MN $191
- Days to sell
- 47
- Sold over asking
- 23%
- Listings with a price cut
- 19%
Townhouses: 16 sold, typical $493K
Too few sales in 12 months for reliable figures.
More homes sell than most years, at 1.7 times the 2016 price
249 sales in the last year, against 337 in 2020 and a low of 88 in 2015. The typical sale went from $405K in 2016 to $669K.
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 $650K buys in Lake Elmo
Check a listing against what Lake Elmo 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 Elmo are back to pre-pandemic levels, but half fewer homes come up for sale
We read every month of Lake Elmo’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, 249 sales.
If you’re buying in Lake Elmo
- Shop in March. It brings about 28 new listings a month, close to the busiest month, with fewer bidding wars (17% over asking).
- Bid near asking. Buyers paid 99.3% of the list price on average; 24% paid over.
- You’ll usually have time. Only 41% of homes go under contract within two weeks; the typical one takes 42 days.
Spring brings the homes; summer brings the bidding wars
May has the most new listings (about 32 a month), but June is the most competitive: 28% of June sales close over asking. March offers nearly as much choice with fewer homes bid up (17%). February has the least competition (16%).
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and about like Minnesota as a whole
| Lake Elmo now | 2017–19 | 2021 peak | MN now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 24% | 19% | 36% | 29% |
| Gone within two weeksShare of homes under contract within 14 days | 41% | 26% | 43% | 40% |
| Price paid vs. askingAverage sale price ÷ list price | 99.3% | 98.8% | 100.5% | 99% |
| Days to sellMedian days from listing to contract | 42 | 75 | 37 | 38 |
51 homes for sale on a typical day
That’s 1.5 times the 2014 low (35), 50% fewer than in 2017–19 and well under 2019’s 115.
Lake Elmo ranks 128th 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 Elmo 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 Elmo home costs about $3,943 a month
Price: Lake Elmo’s typical sale, last 12 months. Property tax at Lake Elmo’s 0.8% (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 Elmo 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 13.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $669K home, about $5,430 a year.
Taxes vs. neighborsSchools
The schools grade for Lake Elmo, from test results, graduation and how much students grow.
Schools in Lake ElmoTypical commute
The average one-way trip to work for people who live in Lake Elmo.
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.
Oakdale, North St. Paul, Woodbury, Oak Park Heights, Mahtomedi and Stillwater sell for less a square foot
The busier markets within 25 miles of Lake Elmo, 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 | |
|---|---|---|---|---|---|
| Woodbury | 1,179 | $445K | $195 | 29% | 35 |
| Oakdale | 394 | $340K | $198 | 36% | 27 |
| Stillwater | 274 | $449K | $227 | 43% | 26 |
| Lake Elmo | 249 | $669K | $236 | 24% | 42 |
| North St. Paul | 172 | $329K | $198 | 42% | 22 |
| Mahtomedi | 129 | $498K | $225 | 28% | 26 |
| Oak Park Heights | 47 | $394K | $216 | 24% | 45 |
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 Elmo, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Lake Elmo. People who follow the town see it, and so do people comparing Lake Elmo with their own town. No commission, no listing fee.
Questions about buying a home in Lake Elmo
What do homes sell for in Lake Elmo, MN?
249 homes sold in the year to September 2026 at a typical $669K, $236 a square foot.
Is Lake Elmo a buyer’s or seller’s market?
A seller’s market: 60 homes were for sale in September 2026 and 27 sold, about 2.2 months of supply. Buyers paid 99.3% of asking on average.
When is the best time to buy in Lake Elmo?
May brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Lake Elmo?
About 0.8% of a home’s value a year. On a $669K home that’s near $5,430.
Where can I see homes for sale in Lake Elmo?
Zillow, Redfin, Realtor.com and Homes.com all carry Lake Elmo’s MLS listings; the search links above open each one filtered to Lake Elmo.
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).