Is Mountain Lake, MN 56159 a buyer’s or seller’s market?
Mountain Lake is a balanced market. With about 5.9 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Mountain Lake housing market right now
In the three months ending August 31, 2026, 29% of homes in Mountain Lake, MN 56159 sold above their list price, the typical home went under contract in 26 days and there were 5.9 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 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 rose from 0%, homes sold faster (115 days then) and the median sale price fell 35% to $138,440. Overall, Mountain Lake is more competitive than a year ago, so tougher for buyers.
Nearby, buyers who want less competition could look at Windom 56101 (26% sold over asking), while Westbrook 56183 (57% sold over asking) is even more competitive.
Run the numbers for 56159
Nearby markets
Bingham Lake 56118 — /sq ftJeffers 56145 — /sq ftWestbrook 56183Balanced $109 /sq ftWindom 56101Balanced $117 /sq ft Browse all markets →Towns like Mountain Lake nearby
Find towns like Mountain Lake in other states →Where Mountain Lake is
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Questions about Mountain Lake real estate
Is Mountain Lake a buyer’s or seller’s market?
A balanced market: there were 5.9 months of supply in Mountain Lake, MN 56159 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 Mountain Lake?
The typical home went under contract in 26 days in the latest three months.
Do homes in Mountain Lake sell over asking?
29% of homes sold above their original list price, and the typical sale closed at 95.6% of the list price.
What are property taxes in Mountain Lake?
About 1.05% of a home’s value a year in Cottonwood County, or roughly $4,200 on a $400,000 home.
What is the median home price in Mountain Lake?
The median sale price was $138,440 in the three months ending August 31, 2026, about $96 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