Homes for Sale in Lakeville, MN
Lakeville is a rapidly growing city on the southern edge of the Twin Cities metro. True to its name, it features numerous beautiful lakes that offer year-round recreation. With a thriving historic downtown, excellent schools, and abundant new construction, it's a top choice for modern families.
Why Live in Lakeville
Lakeville Market Snapshot
Monthly figures from the NorthstarMLS Local Market Update.
Median Sales Price
% of Original List Price Received
Days on Market
Closed Sales
Homes for Sale
Months Supply
Supply vs. Demand Trends
Lakeville Housing Market Today
Here is where the Lakeville market stood in August 2026. Home values are holding steady within one percent of last year, with a median sale price of $512,845. Homes are selling 9 days longer than last year, averaging 58 days on market, and sellers are receiving 97.3% of their original asking price. The area is currently a balanced market with 4 months of supply. Active inventory is up 25% from last year to 374 homes for sale.
In a balanced market, neither side has a steep advantage, making careful pricing for sellers and steady negotiation for buyers the key to success.
In Lakeville, homes were most commonly built in 2000-2009, about 88% of occupied homes are owner-occupied, and the average commute is 24 minutes. Roughly 72% of homes are single-family detached, and the median home was built in 1999.
Homeowners with a mortgage typically spend $2,437 a month on housing costs, higher than the Twin Cities metro and the median property tax bill is $4,498 a year.
Data: NorthstarMLS Local Market Update via 10K Research, published September 12, 2026.
Lakeville market questions
Is Lakeville a buyer's or seller's market?
Lakeville was a balanced market in August 2026, with 4 months of supply. Under about 3 months generally favors sellers, 3 to 6 months is considered balanced, and over 6 months favors buyers. There were 374 homes for sale.
How fast are homes selling in Lakeville?
Homes that sold in August 2026 spent an average of 58 days on market, 9 days slower than a year earlier. Sellers received 97.3% of their original list price on average.
Are home prices going up in Lakeville?
Prices were essentially flat, with a median sale price of $512,845.
Living in Lakeville
Housing, cost of ownership and commuting, compared with the Twin Cities metro.
In Lakeville, homes were most commonly built in 2000-2009, about 88% of occupied homes are owner-occupied, and the average commute is 24 minutes.
Data: ACS 2020-2024 5-year estimates
What does it cost to own a home in Lakeville?
Homeowners with a mortgage typically pay $2,437 a month in housing costs and the median property tax bill is $4,498 a year.
Median home value
$452,500
Higher than the Twin Cities metro
The midpoint of estimated values for owner-occupied homes.
Median property taxes paid
$4,498/yr
Higher than the Twin Cities metro
The midpoint of annual property taxes paid by homeowners.
Typical monthly owner costs (with mortgage)
$2,437/mo
Higher than the Twin Cities metro
Median monthly housing costs for owners with a mortgage.
Typical monthly owner costs (no mortgage)
$846/mo
Higher than the Twin Cities metro
Median monthly housing costs for owners without a mortgage.
Median rent
$1,806/mo
Higher than the Twin Cities metro
The midpoint of monthly gross rent, including utilities.
What are homes like in Lakeville?
About 88% of occupied homes are owner-occupied and the median home was built in 1999.
Owner-occupied homes
88%
Higher than Twin Cities metro overall
The share of occupied homes lived in by their owners.
Median year built
1999
Similar to the Twin Cities metro
The midpoint of years when homes in the area were built.
Home age by decade
The share of homes built during each period.
- 2020 or later7%
- 2010-201918%
- 2000-200924%
- 1990-199923%
- 1980-198913%
- 1970-19797%
- 1960-19693%
- 1950-19591%
- 1940-19491%
- 1939 or earlier1%
Types of homes
The share of housing units in each building type.
- Single-family detached72%
- Townhome / attached16%
- 2-4 units2%
- 5+ units7%
- Mobile home3%
How do people get around in Lakeville?
The average one-way commute is 24 min and 96% of homes have broadband.
Average commute
24 min
Similar to the Twin Cities metro
The average one-way travel time to work for commuters.
How people get to work
The share of workers using each listed way to get to work.
- Drive alone66%
- Carpool8%
- Public transit1%
- Work from home23%
Homes with broadband
96%
Similar than Twin Cities metro overall
The share of households with a broadband internet subscription.
What's Nearby in Lakeville
OpenStreetMap lists 57 parks, 7 trails, 5 beaches and boat launches, 1 library, 20 schools, and 8 grocery stores within the Lakeville city boundary.
Parks
57
54 named
- Antlers Park (opens in new tab)
- Aronson Park
- Bunker Hill Park
- Casperson Park
- Cedar Highlands Park
- Chadwick Park
Show all 54 parksShow fewer
- Cherryview Park
- Dakota Heights Park
- Dodd Pointe Park
- Dodd Trail Park
- East Lake Community Park
- Fairfield Park
- Fieldstone Park
- Foxborough Park
- Grand Prairie Park
- Greenridge Park
- Highview Heights Park
- Hypointe Crossing Park
- Independence Park
- James Jensen Park
- Jaycee Park
- Juno Trailway Trailhead
- Kenmore Park
- Kenreel Park
- King Park
- Knob Hill Park
- Legacy Park
- Loan Oak Park
- Lynwood Heights Park
- Marion Fields Park
- Meadows Park (opens in new tab)
- Murphy-Hanrehan Park Reserve (opens in new tab)
- North Creek Park
- Oak Shores Park
- Orchard Lake Beach
- Orchard Lake Park
- Parkview Park
- Pexa Park
- Pinnacle Reserve Park
- Pioneer Plaza
- Prairie Lake Park
- Quail Meadows Park
- Quigley-Sime Park
- Ritter Farm Park
- Rolling Oaks Park
- Sleepy Hollow Park
- Spyglass Park
- Steve Michaud Park
- Stoneborough Park
- Summerlyn Park
- Valley Lake Park
- Village Creek Park
- Wayside Park
- West Lake Marion Park;Juno Park
Official source: City of Lakeville (opens in new tab)
Trails
7
5 named
- Big Woods Regional Trail
- Cedar Ave Trail
- Eagle Creek Trail
- Lake Marion Greenway
- Pilot Knob Trail
Official source: City of Lakeville (opens in new tab)
Beaches and boat launches
5
0 named
5 mapped beaches and boat launches, not named in OpenStreetMap.
Official source: City of Lakeville (opens in new tab)
Schools
20
- Century Middle School (opens in new tab)
- Cherry View Elementary
- Christina Huddleston Elemetary School
- Crystal Lake Elementary
- Donald J. McGuire Middle School (opens in new tab)
- East Lake Elementary
Show all 20 schoolsShow fewer
- Eastview Elementary School
- Farmington High School (opens in new tab)
- Highview Elementary (opens in new tab)
- John F. Kennedy Elementary School (opens in new tab)
- Kenwood Trail Middle School (opens in new tab)
- Lake Marion Elementary
- Lakeview Elementary School (opens in new tab)
- Lakeville North High School
- Lakeville South High School (opens in new tab)
- North Trail Elementary (opens in new tab)
- Oak Hills Elementary
- Orchard Lake Elementary
- Parkview Elementary
- Wise Swim School
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