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Posted by Liz Sandwick | November 4, 2025
Hello, Lakeville neighbors! I’m Liz Sandwick, your local REALTOR® with Sandwick Real Estate Group. As a Lakeville resident, I love sharing insights about our vibrant Twin Cities community—from Ritter Farm Park’s trails to the easy I-35 commute. Welcome to the first edition of Lakeville Living with Liz, your source for real estate tips and market updates. For example, if you’re exploring Lakeville homes for sale or considering a sale before 2026, this post has you covered.Let’s dive into current trends, a 2026 forecast, and Lakeville’s top amenities. Ready? Grab your coffee—let’s get started.
2025 Lakeville Snapshot: A Competitive Market
Lakeville’s housing market remains robust, even in cooler months. Homes move quickly, though prices eased slightly from 2024. Here’s the latest from Zillow, Redfin, SPAAR, and local MLS reports:
- Median Home Price: $467,500—down 0.8% from 2024, up 2.8% per square foot to $204. Dakota County medians range from $450,000-$470,000, with single-family homes at $620,000 and townhomes at $450,000.
- Days on Market: 15 days to pending—a seller’s edge! Inventory sits at 118 active listings, with a 27% relisting rate showing selective buyers. SPAAR reports Twin Cities sales up 5.2% in October, the strongest gain since early 2024.
- Sales Volume: 1,030 homes sold in the past year, with foreclosures low at 12 properties (0.38%). Competition score: 71/100 (very competitive).
|
Metric
|
Fall 2025 Value
|
Change from 2024
|
|---|---|---|
|
Median Price
|
$467,500
|
-0.8%
|
|
Avg. Price/Sq Ft
|
$204
|
+2.8%
|
|
Days to Pending
|
15
|
Stable
|
|
Active Listings
|
118
|
+27% relistings
|
|
Twin Cities Sales (SPAAR)
|
Up 5.2% (Oct)
|
Strongest since 2024
|
Buyers gain slight negotiating room, but homes near schools or parks sell fast. Sellers, low inventory favors you—stage for quick offers.
What’s Next for 2026?
A Balanced Outlook
Lakeville’s market looks steady for 2026, with a modest rebound expected. Easing mortgage rates (down to 6.1-6.5% nationally) and Twin Cities job growth drive optimism. WalletInvestor predicts median home values reaching $407,000 by 2030, with a 1-3% uptick in 2026. SPAAR forecasts 2-4% sales growth as new listings stabilize (-1.1% decline in October 2025).
- Price Outlook: 1-3% growth early 2026, leveling off mid-year. A -1.5% metro dip by July is possible, but Lakeville’s amenities may resist.
- Inventory Boost: Listings may hit 130-140 as rates ease, offering more choices in areas like All Saints.
- Hot Areas: Properties near Eagan or Burnsville borders draw interest for commuters.
Additionally, demand for homes near quality schools remains high. Sellers, list now to capture early 2026 momentum.
Why Choose Lakeville? Key Amenities
Lakeville blends suburban charm with urban access. For instance, downtown Minneapolis is just a 25-30 minute drive via I-35, ideal for commuters. Local parks like Ritter Farm (200 acres) offer trails and fishing, while Antlers Park, on Antlers Lake, features a swimming beach and picnic areas.The Lakeville Area Schools (ISD 194) serve 11,000+ students across 21 campuses, earning high ratings for academic programs and growth. GreatSchools rates elementaries like Eastview 9/10 for academics. These features enhance property appeal for all buyers and sellers.
These features enhance property appeal for all buyers and sellers.
Tips from Liz: Your 2026 Strategy
As your Twin Cities real estate agent, I’m here to guide you:
For Buyers
- Secure pre-approval now—rates are dipping to 6.1-6.5%.
- Target homes under $500K near parks like Antlers Park for value.
- Negotiate 1-2% below ask in Q1, with 24.8% of homes seeing price drops.
For Sellers
- Price compellingly for your price point and stage for fast offers.
- Highlight amenities like ISD 194 schools or Antlers Park proximity.
- Request a free valuation to get an idea for market pricing for your property.
For Everyone
- Monitor levy votes (e.g., ISD 194’s Nov 2025 renewal) for market impacts. For example, I helped a client buy a 4-bed near Crystal Lake—location was key.
Ready to Make Your Move?
Lakeville’s market is seller-friendly now, with 2026 offering more choices as buyers may find more inventory by spring.
Questions on Lakeville MN real estate trends 2026? I’m here to help.Contact me, Liz Sandwick, at 952-491-3685 or schedule a free consultation. Download my free 2026 Lakeville Market Report below.
What’s your 2026 goal—buy, sell, or explore?
Stay tuned for next month’s post on “Top Lakeville Amenities for Homebuyers.”
Follow along and let’s make Lakeville living even better!
Sources: Zillow, Redfin, SPAAR Monthly Report (Oct 2025), Minnesota Realtors®, Dakota County Assessor, Norada Real Estate, GreatSchools, Lakeville Area Schools.
