Twin Cities Lake Communities Market Report
A current snapshot of the real estate market across White Bear Lake, Mahtomedi, and the surrounding Twin Cities lake communities, compiled from public Northstar MLS statistics.
Data status: this report is dated October 19, 2026 and is built on the September 2026 editions of the official Twin Cities market statistics: the Minneapolis Area REALTORS September Housing Market Update (posted October 16, 2026), the MAAR Weekly Market Activity Report for the week ending October 3, 2026 (published October 12, 2026), the September 2026 MAAR Local Market Update for the 16-county region, and the joint September 2026 Minnesota Housing Market Update. Verified September 2026 metro figures: median sales price $404,000 (+1.0% year over year), average days on market 45 (+7.1%), percent of original list price received 98.2% (-0.6 points), active inventory 12,636 (+13.1%), months of supply 3.1 (+10.7%), new listings 7,479 (+4.3% at the 16-county level), and closed sales 4,713 (essentially flat). The story behind the numbers: 30-year mortgage rates pushed past 7% in September for the first time since January 2025, cooling buyer demand while inventory climbed. Where a specific statistic was not published in the public sources reviewed for this update, the newest verified figure is shown and labeled. This report will be refreshed when the October 2026 releases land, typically mid-November 2026.
How the market looks right now
This page tracks the market Melissa knows best: the East Metro lake communities of White Bear Lake, Mahtomedi, and White Bear Township, plus the broader Twin Cities market they belong to. The headline numbers below are the September 2026 figures from Minneapolis Area REALTORS publications based on Northstar MLS data: the September Housing Market Update posted October 16, 2026 under the headline "Higher Rates Cool Minnesota Sales as Buyers Gain Leverage," the Weekly Market Activity Report for the week ending October 3, 2026, and the MAAR Local Market Update for the 16-county region. The report's theme for September: prices held near their peak, but with 30-year mortgage rates pushing past 7% for the first time since January 2025, buyers gained real leverage, sales cooled, and inventory kept climbing. City-level figures follow in the next section, each labeled with its provider so you can see exactly where a number comes from. Where a release did not publish a specific statistic in the public sources reviewed for this update, the newest verified figure is shown and labeled with its reporting period. The report will refresh again when the October 2026 statistics land, typically mid-November 2026.
Median Sales Price
$404,000
+1.0% year over year
Twin Cities metro, September 2026 · Minneapolis Area REALTORS Weekly Market Activity Report (Northstar MLS data), week ending October 3, 2026, published October 12, 2026; the joint September Minnesota Housing Market Update put the narrower 7-county median at about $395,000, essentially flat year over year
Average Days on Market
45 days
+7.1% year over year
Twin Cities metro, September 2026 · MAAR Weekly Market Activity Report (Northstar MLS data); the 7-county region averaged 37 days, up 8.8% year over year
Active Listings
12,636
+13.1% year over year
Twin Cities metro active inventory as of the week ending October 3, 2026 · MAAR Weekly Market Activity Report (Northstar MLS data); roughly 3.1 months of supply, up 10.7% year over year, with listings out-pacing sales
Closed Sales
4,713
essentially flat year over year
Count is September 2026 for the 16-county Twin Cities region · MAAR Local Market Update (data current as of early October 2026); 4,712 closed sales in September 2025, while new listings rose 4.3% to 7,479
Metro figures: the September 2026 MAAR Weekly Market Activity Report, based on Northstar MLS data, put the 16-county metro median sales price at $404,000 (+1.0% year over year), average days on market at 45 (+7.1%), percent of original list price received at 98.2% (-0.6 points), active inventory at 12,636 (+13.1%) for the week ending October 3, and months of supply at 3.1 (+10.7%). The September MAAR Local Market Update for the 16-county region counted 7,479 new listings (+4.3% versus 7,173 a year earlier) and 4,713 closed sales, essentially flat versus 4,712 in September 2025. The joint September 2026 Minnesota Housing Market Update (Minnesota Realtors, the Saint Paul Area Association of Realtors, and Minneapolis Area REALTORS) put the narrower 7-county region at roughly 5,480 new listings (+2.6%), about 3,340 pending sales (-4.9%), 37 days on market (+8.8%), 97.8% of original list price received (-0.8 points), and a median sales price near $395,000, essentially flat. The story behind the numbers: 30-year mortgage rates pushed past 7% in September for the first time since January 2025, the highest in nearly three years, cooling buyer demand while inventory climbed. Buyers have more to choose from and more room to negotiate than at any point in the past few years (MAR September Housing Market Update, October 16, 2026).
White Bear Lake and Mahtomedi
The two anchor communities of Melissa's service area tell two different stories right now, which is exactly why a single metro number is never enough when you are pricing a home or planning an offer. The ZIP-level figures below are the most current published in the public sources reviewed for this update as of October 19, 2026, and each is labeled with its reporting period.
White Bear Lake, MN
- Median sale price: about $387,000 in Redfin's three-month snapshot at ZIP 55110 (three months ending July 2026, data last updated August 2026), down about 0.9% year over year; RealtyTrac's most recent ZIP median came in near $375,449 (reporting period through July 2026), a reminder that trackers measure different windows
- Average home value: about $381,801 at ZIP 55110 (Zillow, updated August 31, 2026), up about 2.6% over the past year
- Days on market: about 16 days at ZIP 55110, per Redfin, versus 17 days a year earlier; the market rates "very competitive" (87 of 100)
- Homes sold: 185 over the last three months, per Redfin at ZIP 55110; RealtyTrac's most recent reporting period (through July 2026) counted 239 sold versus 277 a year earlier, down about 13.7%. A full trailing-12-month count was not published in the sources reviewed for this update
- Price per square foot: about $220 at ZIP 55110, per Redfin, up 2.6% year over year
Mahtomedi, MN
- Median sale price: about $532,000 in Redfin's most recent ZIP 55115 snapshot (data last updated August 2026), up about $8,000 month over month, with about 43 homes sold recently; Redfin's city page put the citywide median near $519,253 for September 2026, up 18.4% year over year. Both figures swing with the small number of monthly closings and the waterfront mix
- Average home value: about $485,235 in Mahtomedi (Zillow), up about 3.7% year over year, a reminder that average value and the most recent sale-price median measure different things
- Days on market: about 21 days at ZIP 55115, up 2 days from the prior month, per Redfin's market-trends data, with sellers receiving about 100.3% of list price
- Active listings: about 170 homes in RealtyTrac's most recent ZIP-level count (reporting period through May 2026), with brokered listing sites showing roughly 17 to 36 active Mahtomedi listings depending on the site and date
- Homes sold: 56 in RealtyTrac's most recent reporting period (through May 2026), down about 29% year over year from 79 a year earlier, the small volume behind the monthly median swings; a full trailing-12-month count was not published in the sources reviewed for this update
White Bear Township, MN
White Bear Township shares the 55110 ZIP with White Bear Lake, Dellwood, and parts of Saint Paul, so ZIP-level public trackers serve as the closest proxy for the township. Public trackers do not publish a township-specific homes-sold count for this update. Melissa can pull the Northstar MLS figure for your exact area.
- Median sale price: about $387,000 in Redfin's three-month window at ZIP 55110 (down about 0.9% year over year), with Zillow's average home value for the ZIP near $381,801, up 2.6%
- Homes sold: about 185 over the last three months at the ZIP level, per Redfin, the best available proxy for the township; RealtyTrac counted 239 in its most recent reporting period (through July 2026)
- Days on market: about 16 days, per Redfin at ZIP 55110, versus 17 days a year earlier
Why the numbers differ by provider: City-level trackers compute differently. Some count all residential sales, others focus on single-family homes; some include condos, others do not; and waterfront versus off-lake homes sit in different price worlds. Reporting periods also differ, which matters in a low-volume ZIP like 55115. That is normal. For a precise, neighborhood-by-neighborhood read on your street, ask Melissa to pull current Northstar MLS data for your exact area.
What those numbers mean
Prices held near their peak, but buyers gained leverage
The metro-wide median sales price was $404,000 in September 2026, up 1.0% year over year (MAAR Weekly Market Activity Report), while average days on market lengthened to 45, up 7.1%, and sellers received 98.2% of original list price, down half a percentage point from a year earlier. The reason: 30-year mortgage rates pushed past 7% in September for the first time since January 2025, the highest in nearly three years, and sales lost momentum (MAR September Housing Market Update, October 16, 2026; Zillow's September 2026 national report put newly pending sales down 8.5% year over year). Lakefront and newer-constructed homes in these communities still list well above the metro figure, and the premium for water remains a defining feature of this market.
Lake-community markets are not moving in lockstep
In the most recent snapshots, the ZIP 55110 median covering White Bear Lake and White Bear Township was about $387,000, down about 0.9% year over year, while Mahtomedi's ZIP 55115 median sale price came in near $532,000 in Redfin's August 2026 snapshot, with Redfin's city page showing the citywide median at about $519,253 for September 2026, up 18.4%. Zillow's average home value for the area held at about $381,801 for 55110 (up 2.6%) and about $485,235 for Mahtomedi (up 3.7%). Different property mixes, different waterfront ratios, different buyers. A metro average will not tell you what your own home is worth.
Buyers have more to choose from
Metro active listings reached 12,636 in the week ending October 3, up 13.1% year over year with roughly 3.1 months of supply, up 10.7% (MAAR Weekly Market Activity Report; a separate week-ending-September 26 tally showed about 12,460 homes for sale). New listings in the 16-county region rose 4.3% in September to 7,479, and the 7-county region added about 5,480 new listings, up 2.6%, while pending sales fell 4.9% (September 2026 Minnesota Housing Market Update). More choices means buyers can be more selective, and sellers need pricing that reflects current data.
Homes take a little longer to sell
Average days on market at the metro level reached 45 in September, up 7.1% year over year (37 days in the 7-county region, up 8.8%), and closed sales ran essentially flat at 4,713 in the 16-county region versus 4,712 a year earlier (MAAR Local Market Update). In the lake communities, well-priced homes still moved fast: about 16 days at ZIP 55110 covering White Bear Lake and White Bear Township, and about 21 days at ZIP 55115 around Mahtomedi. Well-priced, well-prepared homes still sell quickly; everything else sits longer, and with rates above 7%, strategy matters more than it did a year ago.
Want the numbers for your home?
Market averages are a starting point, not an answer. Melissa will pull current Northstar MLS data for your exact neighborhood and give you a personalized home valuation, no pressure.
Data sources
- •Minneapolis Area REALTORS market-data hub and September Housing Market Update, "Higher Rates Cool Minnesota Sales as Buyers Gain Leverage" (posted October 16, 2026): 30-year mortgage rates pushed past 7% in September 2026 for the first time since January 2025, the highest since late 2023, and sales lost momentum as buyers gained leverage: mplsrealtor.com/market-data
- •MAAR Weekly Market Activity Report for the week ending October 3, 2026 (published October 12, 2026, Northstar MLS data): metro median sales price $404,000 (+1.0% year over year), average days on market 45 (+7.1%), 98.2% of original list price received (-0.6 points), active inventory 12,636 (+13.1%), months of supply 3.1 (+10.7%): mplsrealtor.com/market-data and carriagehousemn.com
- •MAAR Local Market Update, 16-County Twin Cities Region, September 2026 (data current as of early October 2026): 7,479 new listings (+4.3% versus 7,173) and 4,713 closed sales (essentially flat versus 4,712): maar.stats.10kresearch.com/docs/lmu/x/16-CountyTwinCitiesRegion
- •September 2026 Minnesota Housing Market Update (Minnesota Realtors, Saint Paul Area Association of Realtors, and Minneapolis Area REALTORS), 7-County Twin Cities Region: about 5,480 new listings (+2.6%), about 3,340 pending sales (-4.9%), 37 days on market (+8.8%), 97.8% of original list price received (-0.8 points), median sales price near $395,000 (flat): marketstatsreports.showingtime.com/MNR_vq2qz
- •Zillow September 2026 Market Report (national context): newly pending sales down 8.5% year over year and 30-year mortgage rates at 7.28%, the highest since November 2023: zillow.com/research/september-2026-market-report
- •Redfin ZIP 55110 housing market (covers White Bear Lake, White Bear Township, Dellwood, and parts of Saint Paul): three-month median near $387,000 (down about 0.9% year over year), median price per square foot about $220 (up 2.6%), about 16 days on market, 185 homes sold over the last three months, market rated very competitive (87 of 100); data last updated August 2026: redfin.com
- •Redfin ZIP 55115 housing market (Mahtomedi area): median sale price about $532,000 (up about $8,000 month over month), about 21 days on market, 43 recently sold homes, sellers receiving about 100.3% of list price; data last updated August 2026: redfin.com; Redfin Mahtomedi city page, median near $519,253 for September 2026, up 18.4% year over year: redfin.com/city/10018/MN/Mahtomedi
- •Zillow home value data: ZIP 55110 average home value about $381,801 (up about 2.6% year over year, updated August 31, 2026): zillow.com; Mahtomedi average home value about $485,235, up 3.7%: zillow.com/home-values/19161/mahtomedi-mn
- •RealtyTrac market trends: ZIP 55110 median near $375,449 in its most recent reporting period (through July 2026) with about 641 active homes and 239 sales in the period (down about 13.7% year over year): realtytrac.com; ZIP 55115 median near $485,315 (through May 2026) with about 170 active homes and 56 sales in the period (down about 29.1% year over year): realtytrac.com
About this report
Report date: October 19, 2026. This page is updated as new Northstar MLS statistics are published. This edition is built on the September 2026 releases: the Minneapolis Area REALTORS September Housing Market Update (October 16, 2026), the MAAR Weekly Market Activity Report for the week ending October 3, 2026, the September 2026 MAAR Local Market Update for the 16-county region, and the joint September 2026 Minnesota Housing Market Update. Where a release did not publish a specific statistic in the public sources reviewed for this update, the newest verified figure is shown and labeled with its reporting period, as it is for the ZIP-level trailing-12-month sold counts. The report awaits the October 2026 releases, typically mid-November 2026, and will be refreshed the moment they land. Figures are compiled from the public sources listed above and are provided for general information only; they do not constitute an appraisal, an offer, or professional advice for a specific property. Individual figures vary by provider because each provider counts a different mix of properties and reporting periods. For current, neighborhood-specific data on your home, contact Melissa directly.
Melissa A Johnson · Realtor, Pemberton Realty · MN License 40815413 | WI License 98496-94 · Each office independently owned and operated. Equal Housing Opportunity.