Is Lake Park, IA 51347 a buyer’s or seller’s market?
Lake Park is a buyer’s market. With about 6.9 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Lake Park housing market right now
In the three months ending August 31, 2026, 0% of homes in Lake Park, IA 51347 sold above their list price, the typical home went under contract in 62 days and there were 6.9 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 7 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 10%, homes sold more slowly (47 days then) and the median sale price fell 12% to $154,933. Overall, Lake Park is less competitive than a year ago, which gives buyers more room.
Within Dickinson County, homes here sell more slowly than in 60% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Milford 51351 (17% sold over asking) and Spirit Lake 51360 (15% sold over asking) are even more competitive.
Run the numbers for 51347
Nearby markets
Arnolds Park 51331Seller’s market $344 /sq ftMilford 51351Balanced $184 /sq ftOkoboji 51355Seller’s market $340 /sq ftSpirit Lake 51360Buyer’s market $253 /sq ft Browse all markets →Towns like Lake Park nearby
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Questions about Lake Park real estate
Is Lake Park a buyer’s or seller’s market?
A buyer’s market: there were 6.9 months of supply in Lake Park, IA 51347 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Lake Park?
The typical home went under contract in 62 days in the latest three months.
Do homes in Lake Park sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 95.2% of the list price.
What are property taxes in Lake Park?
About 0.92% of a home’s value a year in Dickinson County, or roughly $3,680 on a $400,000 home.
What is the median home price in Lake Park?
The median sale price was $154,933 in the three months ending August 31, 2026, about $157 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology