Is Crane Lake, MN 55725 a buyer’s or seller’s market?
Crane Lake is a balanced market. With about 4.8 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Crane Lake housing market right now
In the three months ending August 31, 2026, 0% of homes in Crane Lake, MN 55725 sold above their list price, the typical home went under contract in 384 days and there were 4.8 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. With only 2 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold more slowly (6 days then) and the median sale price rose 45% to $274,881. Overall, Crane Lake is less competitive than a year ago, which gives buyers more room.
Within St. Louis County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county.
Nearby, Angora 55703 (100% sold over asking) and Buhl 55713 (100% sold over asking) are even more competitive.
Run the numbers for 55725
Nearby markets
Alborn 55702 — /sq ftAngora 55703Buyer’s market $121 /sq ftAurora 55705Balanced $129 /sq ftBabbitt 55706Seller’s market $91 /sq ft Browse all markets →Where Crane Lake is
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Questions about Crane Lake real estate
Is Crane Lake a buyer’s or seller’s market?
A balanced market: there were 4.8 months of supply in Crane Lake, MN 55725 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 Crane Lake?
The typical home went under contract in 384 days in the latest three months.
Do homes in Crane Lake sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 93.2% of the list price.
What are property taxes in Crane Lake?
About 1.03% of a home’s value a year in St. Louis County, or roughly $4,120 on a $400,000 home.
What is the median home price in Crane Lake?
The median sale price was $274,881 in the three months ending August 31, 2026, about $273 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