Is Lake George, MN 56458 a buyer’s or seller’s market?
Lake George is a seller’s market. With about 1.9 months of supply and 20% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Lake George housing market right now
In the three months ending August 31, 2026, 20% of homes in Lake George, MN 56458 sold above their list price, the typical home went under contract in 18 days and there were 1.9 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 10 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 0%, homes sold faster (45 days then) and the median sale price rose 20% to $329,857. Overall, Lake George is more competitive than a year ago, so tougher for buyers.
Within Hubbard County, homes here sell faster than in any other ZIP code in the county, and sell less often over asking than in 75%.
Nearby, Nevis 56467 (43% sold over asking) and Akeley 56433 (40% sold over asking) are even more competitive.
Run the numbers for 56458
Nearby markets
Akeley 56433Seller’s market $185 /sq ftLaporte 56461Seller’s market $193 /sq ftNevis 56467Seller’s market $263 /sq ftPark Rapids 56470Balanced $192 /sq ft Browse all markets →Where Lake George is
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Questions about Lake George real estate
Is Lake George a buyer’s or seller’s market?
A seller’s market: there were 1.9 months of supply in Lake George, MN 56458 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 George?
The typical home went under contract in 18 days in the latest three months.
Do homes in Lake George sell over asking?
20% of homes sold above their original list price, and the typical sale closed at 97.3% of the list price.
What are property taxes in Lake George?
About 0.78% of a home’s value a year in Hubbard County, or roughly $3,120 on a $400,000 home.
What is the median home price in Lake George?
The median sale price was $329,857 in the three months ending August 31, 2026, about $191 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