Forest Lake Real Estate Market Report: May 2026
In May 2026, the median sale price in Forest Lake was $469,950, up 3.9% from a year earlier.
- Median Sales Price
- $469,950
- +3.9% vs. May 2025
- Homes for Sale
- 67
- -1.5% vs. May 2025
- Months Supply
- 2.7
- -10% vs. May 2025
- Seller's market
- Days on Market
- 56
- +47.4% vs. May 2025
- Closed Sales
- 34
- +25.9% vs. May 2025
- Percent of Original List Received
- 98.3%
- -1.5 pts vs. May 2025
What this means
The median sale price has increased by 4% from last year to $469,950, and a similar trend in price per square foot suggests this is a real move in values rather than a change in the mix of homes selling.
Homes are selling 18 days longer than last year, averaging 56 days on market, and sellers are receiving 98.3% of their original asking price.
The area is currently a seller's market with 2.7 months of supply. Active inventory is down 1% from last year to 67 homes for sale.
In this seller's market, buyers should be prepared to act quickly, while sellers can generally expect strong interest if priced correctly.
Common questions about the Forest Lake market
Is Forest Lake a buyer's or seller's market?
Forest Lake was a seller's market in May 2026, with 2.7 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 67 homes for sale.
How fast are homes selling in Forest Lake?
Homes that sold in May 2026 spent an average of 56 days on market, 18 days slower than a year earlier. Sellers received 98.3% of their original list price on average.
Are home prices going up in Forest Lake?
Yes. The median sale price rose 3.9% year over year to $469,950. Price per square foot moved in the same direction (from $212 to $242), which suggests a real change in values rather than a shift in the mix of homes sold.
Market trends in Forest Lake
| Month | Median sale price | Closed sales | Days on market | Months supply |
|---|---|---|---|---|
| August 2024 | $402,000 | 34 | 47 | 2.7 |
| September 2024 | $422,000 | 27 | 28 | 2.4 |
| October 2024 | $380,000 | 21 | 41 | 3 |
| November 2024 | $370,000 | 19 | 51 | 2.7 |
| December 2024 | $387,500 | 19 | 48 | 2.2 |
| January 2025 | $361,750 | 15 | 57 | 2.1 |
| February 2025 | $377,500 | 14 | 82 | 2.2 |
| March 2025 | $402,500 | 14 | 75 | 2.7 |
| April 2025 | $400,000 | 23 | 48 | 2.6 |
| May 2025 | $452,500 | 27 | 38 | 3 |
| June 2025 | $436,000 | 36 | 43 | 3.1 |
| July 2025 | $425,000 | 27 | 76 | 3.3 |
| August 2025 | $384,900 | 31 | 31 | 3 |
| September 2025 | $444,900 | 25 | 37 | 3.1 |
| October 2025 | $381,000 | 19 | 70 | 2.9 |
| November 2025 | $429,900 | 30 | 49 | 2.3 |
| December 2025 | $457,500 | 22 | 72 | 2 |
| January 2026 | $382,000 | 13 | 42 | 1.9 |
| February 2026 | $429,900 | 13 | 61 | 2 |
| March 2026 | $415,000 | 20 | 75 | 2.2 |
| April 2026 | $405,000 | 30 | 65 | 2.9 |
| May 2026 | $469,950 | 34 | 56 | 2.7 |
How Forest Lake compares with the Twin Cities region
In May 2026, the median sale price in Twin Cities (16-County Region) was $399,000, up 1.0% from a year earlier.
More to explore
Data: NorthstarMLS Local Market Update via 10K Research, published August 24, 2026.
Report published .
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