Gem Lake housing market, January 2026
Past report · Minneapolis Area REALTORS® Local Market Update · current as of February 6, 2026. See the newest report (September 2026)
- Median sale price$715K— vs. January 2025
- Homes sold1— vs. January 2025
- Days on market14January 2026
- Months of supply1end of January 2026
The short version
Gem Lake in January 2026
In January 2026, 1 home sold in Gem Lake, against 0 in January 2025.
The median sale price was $715,000, and homes spent 14 days on market, with sellers receiving 97.3% of their original list price.
The month ended with 1 homes for sale, 1 months of supply (a seller’s market by the usual measure).
Over the 12 months through January 2026, the median was $726,500 (up 56.2%) across 4 sales.
Only 1 home sold here in January 2026, so this month's numbers can swing a lot. The 12-month figures 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 |
All the numbers
Gem Lake, January 2026 vs. January 2025
| January 2026 | 12 months through January 2026 | |||||
|---|---|---|---|---|---|---|
| Measure | Year before | This year | Change | Year before | This year | Change |
| Median sale price | — | $715,000 | — | $465,000 | $726,500 | +56.2% |
| Average sale price | — | $715,000 | — | $595,540 | $878,250 | +47.5% |
| Price per square foot | — | $265 | — | $188 | $276 | +46.8% |
| Closed sales | 0 | 1 | — | 5 | 4 | −20.0% |
| New listings | 0 | 0 | — | 5 | 6 | +20.0% |
| Days on market | — | 14 | — | 49 | 12 | −75.5% |
| % of original list price received | — | 97.3% | — | 90.4% | 100.1% | +10.7% |
| Homes for sale (end of month) | 0 | 1 | — | — | — | — |
| Months of supply | 0 | 1 | — | — | — | — |
| Twin Cities region, median price | $370,000 | $375,000 | +1.4% | $380,000 | $390,000 | +2.6% |
Source: Minneapolis Area REALTORS® Local Market Update, Gem Lake, January 2026. Data from NorthstarMLS; produced by ShowingTime Plus, LLC; current as of February 6, 2026. Does not account for seller concessions. Activity for one month can sometimes look extreme due to small sample size.
Quick answers
Gem Lake in January 2026: questions
What was the median home price in Gem Lake, MN in January 2026?
$715,000, from 1 sales, according to the Minneapolis Area REALTORS® Local Market Update (NorthstarMLS data). With so few sales, a single month can swing a lot; the 12-month median was $726,500.
How many homes sold in Gem Lake, MN in January 2026?
1, against 0 in January 2025. 0 new listings came on the market that month.
Was Gem Lake a buyer's or seller's market in January 2026?
Gem Lake ended January 2026 with 1 months of supply (1 homes for sale). Under about 4 months usually favors sellers; over about 6 favors buyers.
Every month
Gem Lake market reports by month
Gem Lake community guideCompare Gem Lake with nearby citiesEvery city in January 2026