Is Lutsen, MN 55612 a buyer’s or seller’s market?
Lutsen is a buyer’s market. With about 8.5 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Lutsen housing market right now
In the three months ending August 31, 2026, 11% of homes in Lutsen, MN 55612 sold above their list price, the typical home went under contract in 41 days and there were 8.5 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 9 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 17%, homes sold more slowly (38 days then) and the median sale price rose 22% to $539,766. Overall, Lutsen is less competitive than a year ago, which gives buyers more room.
Nearby, buyers who want less competition could look at Tofte 55615 (0% sold over asking), while Grand Marais 55604 (24% sold over asking) is even more competitive.
Run the numbers for 55612
Nearby markets
Grand Marais 55604Balanced $369 /sq ftHovland 55606 — /sq ftSchroeder 55613 — /sq ftTofte 55615Seller’s market $451 /sq ft Browse all markets →Where Lutsen is
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Questions about Lutsen real estate
Is Lutsen a buyer’s or seller’s market?
A buyer’s market: there were 8.5 months of supply in Lutsen, MN 55612 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 Lutsen?
The typical home went under contract in 41 days in the latest three months.
Do homes in Lutsen sell over asking?
11% of homes sold above their original list price, and the typical sale closed at 97.5% of the list price.
What are property taxes in Lutsen?
About 0.69% of a home’s value a year in Cook County, or roughly $2,760 on a $400,000 home.
What is the median home price in Lutsen?
The median sale price was $539,766 in the three months ending August 31, 2026, about $378 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