Lake Elmo housing market, August 2026
Past report · Minneapolis Area REALTORS® Local Market Update · current as of September 8, 2026. See the newest report (September 2026)
- Median sale price$703K+21.6% vs. August 2025
- Homes sold22−12.0% vs. August 2025
- Days on market41August 2026
- Months of supply2.6end of August 2026
The short version
Lake Elmo in August 2026
In August 2026, 22 homes sold in Lake Elmo, against 25 in August 2025.
The median sale price was $702,500, up 21.6% from a year earlier, and homes spent 41 days on market, with sellers receiving 97.5% of their original list price.
The month ended with 53 homes for sale, 2.6 months of supply (a seller’s market by the usual measure).
Over the 12 months through August 2026, the median was $657,450 (up 1.7%) across 256 sales.
That was the 6th highest median sale price of the 80 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 |
| Apr 2026 | $675,000 |
| May 2026 | $700,000 |
| Jun 2026 | $737,500 |
| Jul 2026 | $654,250 |
| Aug 2026 | $702,500 |
All the numbers
Lake Elmo, August 2026 vs. August 2025
| August 2026 | 12 months through August 2026 | |||||
|---|---|---|---|---|---|---|
| Measure | Year before | This year | Change | Year before | This year | Change |
| Median sale price | $577,500 | $702,500 | +21.6% | $646,542 | $657,450 | +1.7% |
| Average sale price | $683,274 | $827,895 | +21.2% | $736,804 | $738,841 | +0.3% |
| Price per square foot | $232 | $252 | +8.4% | $239 | $244 | +2.1% |
| Closed sales | 25 | 22 | −12.0% | 213 | 256 | +20.2% |
| New listings | 27 | 21 | −22.2% | 372 | 351 | −5.6% |
| Days on market | 43 | 41 | −4.7% | 72 | 48 | −33.3% |
| % of original list price received | 98.9% | 97.5% | −1.4% | 97.5% | 98.4% | +0.9% |
| Homes for sale (end of month) | 65 | 53 | −18.5% | — | — | — |
| Months of supply | 3.5 | 2.6 | −25.7% | — | — | — |
| Twin Cities region, median price | $400,000 | $405,000 | +1.3% | $389,000 | $395,000 | +1.5% |
Source: Minneapolis Area REALTORS® Local Market Update, Lake Elmo, August 2026. Data from NorthstarMLS; produced by ShowingTime Plus, LLC; current as of September 8, 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 August 2026: questions
What was the median home price in Lake Elmo, MN in August 2026?
$702,500, from 22 sales (up 21.6% from August 2025), according to the Minneapolis Area REALTORS® Local Market Update (NorthstarMLS data).
How many homes sold in Lake Elmo, MN in August 2026?
22, against 25 in August 2025. 21 new listings came on the market that month.
Was Lake Elmo a buyer's or seller's market in August 2026?
Lake Elmo ended August 2026 with 2.6 months of supply (53 homes for sale). Under about 4 months usually favors sellers; over about 6 favors buyers.