Is Silver Bay, MN 55614 a buyer’s or seller’s market?

The Silver Bay housing market right now

In the three months ending August 31, 2026, 5% of homes in Silver Bay, MN 55614 sold above their list price, the typical home went under contract in 72 days and there were 4.5 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 20 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 13%, homes sold more slowly (53 days then) and the median sale price fell 5% to $164,929. Overall, Silver Bay is less competitive than a year ago, which gives buyers more room.

Within Lake County, homes here sell more slowly than in 75% of the county’s ZIP codes, and sell more often over asking than in 50%. On our competition score, Silver Bay ranks #293 of 296 MN ZIP codes with enough sales (score 12 out of 100).

Nearby, buyers who want less competition could look at Finland 55603 (0% sold over asking), while Isabella 55607 (50% sold over asking) and Two Harbors 55616 (17% sold over asking) are even more competitive.