Gem Lake housing market
September 2026 report · NorthstarMLS data via Minneapolis Area REALTORS® · current as of October 7, 2026
- Median sale price$610K+3.8% vs. prior 12 months
- Homes sold4past 12 months, −33.3%
- Days on market76past 12 months
- Months of supply0.7end of September 2026
The short version
Gem Lake in September 2026
Over the 12 months through September 2026, the median sale price in Gem Lake was $610,000, up 3.8% from the 12 months before.
4 homes sold in that time (down 33.3%), and 8 new listings came on the market (up 33.3%).
Homes that sold spent 76 days on market, and sellers received 92.8% of their original list price.
At the end of September 2026 there were 1 homes for sale, 0.7 months of supply, which usually favors sellers.
Only 0 homes sold in Gem Lake in September 2026, so that month's numbers can swing a lot. The 12-month figures above are steadier.
Single months can swing when few homes sell.
Show as a table
| Year | Median price |
|---|---|
| Oct 2024 | $450,000 |
| Dec 2024 | $265,000 |
| May 2025 | $1,030,000 |
| Aug 2025 | $738,000 |
| Jan 2026 | $715,000 |
| Apr 2026 | $327,000 |
| May 2026 | $1,000,000 |
| Jul 2026 | $505,000 |
Show as a table
| Year | Closed sales |
|---|---|
| Oct 2024 | 2 |
| Nov 2024 | 0 |
| Dec 2024 | 1 |
| Jan 2025 | 0 |
| Feb 2025 | 0 |
| Mar 2025 | 0 |
| Apr 2025 | 0 |
| May 2025 | 2 |
| Jun 2025 | 0 |
| Jul 2025 | 0 |
| Aug 2025 | 1 |
| Sep 2025 | 0 |
| Oct 2025 | 0 |
| Nov 2025 | 0 |
| Dec 2025 | 0 |
| Jan 2026 | 1 |
| Feb 2026 | 0 |
| Mar 2026 | 0 |
| Apr 2026 | 1 |
| May 2026 | 1 |
| Jun 2026 | 0 |
| Jul 2026 | 1 |
| Aug 2026 | 0 |
| Sep 2026 | 0 |
All the numbers
Gem Lake vs. a year earlier
| September 2026 | 12 months through September 2026 | |||||
|---|---|---|---|---|---|---|
| Measure | Year before | This year | Change | Year before | This year | Change |
| Median sale price | — | — | — | $587,500 | $610,000 | +3.8% |
| Average sale price | — | — | — | $660,500 | $636,750 | −3.6% |
| Price per square foot | — | — | — | $225 | $178 | −20.9% |
| Closed sales | 0 | 0 | — | 6 | 4 | −33.3% |
| New listings | 0 | 1 | — | 6 | 8 | +33.3% |
| Days on market | — | — | — | 16 | 76 | +375.0% |
| % of original list price received | — | — | — | 97.7% | 92.8% | −5.0% |
| Homes for sale (end of month) | 2 | 1 | −50.0% | — | — | — |
| Months of supply | 2 | 0.7 | −65.0% | — | — | — |
Compared with the Twin Cities region (12 months)
| Area | Median price | Change | Days on market | % of list received | Months of supply |
|---|---|---|---|---|---|
| Gem Lake | $610,000 | +3.8% | 76 | 92.8% | 0.7 |
| 16-county Twin Cities region | $395,000 | +1.3% | 50 | 98.4% | 3.2 |
Source: Minneapolis Area REALTORS® Local Market Update, Gem Lake, September 2026. Data from NorthstarMLS; produced by ShowingTime Plus, LLC; current as of October 7, 2026. Does not account for seller concessions. Activity for one month can sometimes look extreme due to small sample size.
Quick answers
Gem Lake market questions
What is the median home price in Gem Lake, MN?
$610,000 over the 12 months through September 2026, up 3.8% from a year earlier, according to the Minneapolis Area REALTORS® Local Market Update (NorthstarMLS data). In September 2026 alone it was —.
How fast are homes selling in Gem Lake?
Homes that sold in the 12 months through September 2026 spent 76 days on market (September 2026: — days).
Is Gem Lake a buyer's or seller's market?
At the end of September 2026, Gem Lake had 0.7 months of supply (1 homes for sale). Under about 4 months usually favors sellers; over about 6 favors buyers.
Keep exploring
More about Gem Lake
Gem Lake community guide Twin Cities market report
Past Gem Lake reports
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