Photo: Allmightyduck · CC BY-SA 3.01,137 homes sold in Lakeville in the last year, at a typical $502K
About one sale in 4 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 Lakeville homes are listed.
Every place Lakeville 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 Lakeville.
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 74% of Lakeville’s sales, at a typical $538K (year to May 2026)
1,137 homes sold in the year to September 2026.
typical sale · 774 sold in the year to May 2026
- Per square foot
- $200MN $191
- Days to sell
- 37
- Sold over asking
- 34%
- Listings with a price cut
- 33%
Townhouses: 270 sold, typical $364K
Condos: 2 sold, typical $178K
Too few sales in 12 months for reliable figures.
About as many homes sell as usual, at 1.7 times the 2016 price
1,137 sales in the last year, against 1,670 in 2021 and a low of 935 in 2012. The typical sale went from $302K in 2016 to $502K.
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 $500K buys in Lakeville
Check a listing against what Lakeville 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 Lakeville are back to pre-pandemic levels, with about as many homes for sale
We read every month of Lakeville’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, 1,137 sales.
If you’re buying in Lakeville
- Shop in March. It brings about 157 new listings a month, close to the busiest month, with fewer bidding wars (35% over asking).
- Bid near asking. Buyers paid 99.8% of the list price on average; 30% paid over.
- You’ll usually have time. Only 36% of homes go under contract within two weeks; the typical one takes 40 days.
Summer brings both the most homes and the most bidding wars
June has the most new listings (about 161 a month), and the most competition: 45% close over asking. March offers nearly as much choice with fewer homes bid up (35%). January has the least competition (25%) but only about 83 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and about like Minnesota as a whole
| Lakeville now | 2017–19 | 2021 peak | MN now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 30% | 35% | 58% | 29% |
| Gone within two weeksShare of homes under contract within 14 days | 36% | 44% | 63% | 40% |
| Price paid vs. askingAverage sale price ÷ list price | 99.8% | 99.8% | 102.4% | 99% |
| Days to sellMedian days from listing to contract | 40 | 36 | 20 | 38 |
297 homes for sale on a typical day
That’s 1.4 times the 2021 low (210) and about the 2017–19 level.
Lakeville ranks 86th of 165 busy Minnesota markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Lakeville is in the middle of the pack.
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 Lakeville home costs about $3,035 a month
Price: Lakeville’s typical sale, last 12 months. Property tax at Lakeville’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 Lakeville is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in June
The month with the most choice. December has the fewest, about 55.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $502K home, about $4,990 a year.
Taxes vs. neighborsSchools
The schools grade for Lakeville, from test results, graduation and how much students grow.
Schools in LakevilleTypical commute
The average one-way trip to work for people who live in Lakeville.
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.
Farmington, Apple Valley, Burnsville, Empire and Savage sell for less a square foot
The busier markets within 25 miles of Lakeville, 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 | |
|---|---|---|---|---|---|
| Lakeville | 1,137 | $502K | $197 | 30% | 40 |
| Burnsville | 715 | $387K | $177 | 40% | 28 |
| Apple Valley | 662 | $376K | $189 | 34% | 29 |
| Farmington | 421 | $392K | $191 | 27% | 42 |
| Savage | 401 | $425K | $186 | 30% | 29 |
| Credit River | 54 | $929K | $237 | 22% | 41 |
| Empire | 48 | $445K | $188 | 42% | 34 |
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 Lakeville, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Lakeville. People who follow the town see it, and so do people comparing Lakeville with their own town. No commission, no listing fee.
Questions about buying a home in Lakeville
What do homes sell for in Lakeville, MN?
1,137 homes sold in the year to September 2026 at a typical $502K, $197 a square foot.
Is Lakeville a buyer’s or seller’s market?
A seller’s market: 347 homes were for sale in September 2026 and 121 sold, about 2.9 months of supply. Buyers paid 99.8% of asking on average.
When is the best time to buy in Lakeville?
June brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Lakeville?
About 1% of a home’s value a year. On a $502K home that’s near $4,990.
Where can I see homes for sale in Lakeville?
Zillow, Redfin, Realtor.com and Homes.com all carry Lakeville’s MLS listings; the search links above open each one filtered to Lakeville.
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).