Lake Elmo housing market, March 2026
Past report · Minneapolis Area REALTORS® Local Market Update · current as of April 7, 2026. See the newest report (September 2026)
- Median sale price$610K−27.4% vs. March 2025
- Homes sold23+21.1% vs. March 2025
- Days on market78March 2026
- Months of supply2.5end of March 2026
The short version
Lake Elmo in March 2026
In March 2026, 23 homes sold in Lake Elmo, against 19 in March 2025.
The median sale price was $610,000, down 27.4% from a year earlier, and homes spent 78 days on market, with sellers receiving 98.4% of their original list price.
The month ended with 50 homes for sale, 2.5 months of supply (a seller’s market by the usual measure).
Over the 12 months through March 2026, the median was $615,000 (down 7.5%) across 241 sales.
That was the highest median sale price of the 71 cities in our guides with at least 10 sales that month.
Single months can swing when few homes sell.
Show as a table
| Year | Median price |
|---|---|
| Oct 2024 | $654,000 |
| Nov 2024 | $637,450 |
| Dec 2024 | $552,500 |
| Jan 2025 | $712,500 |
| Feb 2025 | $597,000 |
| Mar 2025 | $840,000 |
| Apr 2025 | $820,000 |
| May 2025 | $587,500 |
| Jun 2025 | $880,500 |
| Jul 2025 | $577,500 |
| Aug 2025 | $577,500 |
| Sep 2025 | $645,411 |
| Oct 2025 | $565,000 |
| Nov 2025 | $610,000 |
| Dec 2025 | $566,200 |
| Jan 2026 | $632,450 |
| Feb 2026 | $549,584 |
| Mar 2026 | $610,000 |
All the numbers
Lake Elmo, March 2026 vs. March 2025
| March 2026 | 12 months through March 2026 | |||||
|---|---|---|---|---|---|---|
| Measure | Year before | This year | Change | Year before | This year | Change |
| Median sale price | $840,000 | $610,000 | −27.4% | $665,000 | $615,000 | −7.5% |
| Average sale price | $785,529 | $635,865 | −19.1% | $713,256 | $727,958 | +2.1% |
| Price per square foot | $231 | $237 | +2.8% | $233 | $247 | +6.0% |
| Closed sales | 19 | 23 | +21.1% | 223 | 241 | +8.1% |
| New listings | 31 | 29 | −6.5% | 363 | 352 | −3.0% |
| Days on market | 64 | 78 | +21.9% | 79 | 50 | −36.7% |
| % of original list price received | 97.1% | 98.4% | +1.3% | 97.3% | 98.5% | +1.2% |
| Homes for sale (end of month) | 45 | 50 | +11.1% | — | — | — |
| Months of supply | 2.5 | 2.5 | 0.0% | — | — | — |
| Twin Cities region, median price | $380,000 | $380,000 | 0.0% | $381,900 | $390,000 | +2.1% |
Source: Minneapolis Area REALTORS® Local Market Update, Lake Elmo, March 2026. Data from NorthstarMLS; produced by ShowingTime Plus, LLC; current as of April 7, 2026. Does not account for seller concessions. Activity for one month can sometimes look extreme due to small sample size.
Quick answers
Lake Elmo in March 2026: questions
What was the median home price in Lake Elmo, MN in March 2026?
$610,000, from 23 sales (down 27.4% from March 2025), according to the Minneapolis Area REALTORS® Local Market Update (NorthstarMLS data).
How many homes sold in Lake Elmo, MN in March 2026?
23, against 19 in March 2025. 29 new listings came on the market that month.
Was Lake Elmo a buyer's or seller's market in March 2026?
Lake Elmo ended March 2026 with 2.5 months of supply (50 homes for sale). Under about 4 months usually favors sellers; over about 6 favors buyers.