Question 1

What is the median sold price in Crane Lake?

Accepted Answer

The median sold price in Crane Lake is $267,500 based on 10 home sales over the past 2 years. The median represents the middle price point where half of homes sold for more and half sold for less, making it a reliable indicator of typical home values in the area.

Question 2

What is the average home price in Crane Lake?

Accepted Answer

The average sold price in Crane Lake is $286,800. Note that the average ($286,800) is higher than the median ($267,500), which indicates some higher-priced luxury sales pulling up the average.

Question 3

What is the price range for homes in Crane Lake?

Accepted Answer

Home prices in Crane Lake range from $85,000 to $590,000 based on recent sales data. This $505,000 spread reflects the variety of property types and sizes available, from starter homes to luxury properties.

Question 4

Are homes in Crane Lake selling above or below asking price?

Accepted Answer

On average, homes in Crane Lake are selling at 93.1% of their asking price. This means buyers have significant negotiating power, with homes selling well below asking price. Buyers may have room to negotiate on price.

Question 5

How long do homes take to sell in Crane Lake?

Accepted Answer

Homes in Crane Lake are selling in an average of 324 days. This indicates a slower market where buyers have significant leverage. Buyers can take their time and carefully evaluate options before making an offer.

Question 6

What is the price per square foot in Crane Lake?

Accepted Answer

The average price per square foot in Crane Lake is $492. This metric helps you compare homes of different sizes on an equal basis. For example, a 2,000 sq ft home at this rate would cost approximately $984,000.

Question 7

How active is the real estate market in Crane Lake?

Accepted Answer

The Crane Lake market has seen 10 home sales over the past 2 years, with 4 properties currently for sale. With ample inventory available, buyers have plenty of options to choose from.

Question 8

What types of properties are selling in Crane Lake?

Accepted Answer

The most common property types selling in Crane Lake are: country residential (5 sold, avg $313,200), rural land/vacant lot (3 sold, avg $109,000), country recreational (2 sold, avg $487,500). Each property type has different price points and characteristics to consider when buying or selling.

Question 9

Are home prices rising or falling in Crane Lake?

Accepted Answer

Home prices in Crane Lake have increased by 42.1% over the past 2 years. The average sold price moved from $271,000 to $385,000. This upward trend indicates strong demand and potential equity gains for homeowners.

Question 10

Is Crane Lake a buyer's or seller's market?

Accepted Answer

Based on current data, Crane Lake is a buyer's market. Homes are selling in 324 days on average and at 93.1% of asking price. Buyers have leverage to negotiate on price and terms. Sellers may need to price competitively to attract offers.

Question 11

What percentage of homes sell above asking price in Crane Lake?

Accepted Answer

In Crane Lake, 10% of homes sold above asking price, while 90% sold below asking. Most homes sell at or below their listed price, giving buyers room to negotiate.

Question 12

What size homes are selling in Crane Lake?

Accepted Answer

Homes selling in Crane Lake range from 384 to 1,800 square feet. This variety means you can find everything from compact condos and starter homes to spacious family residences and luxury properties.

Question 13

How much do home prices vary in Crane Lake?

Accepted Answer

Crane Lake shows moderate price diversity with a standard deviation of $152,380 around the average price of $286,800. This wide range indicates a diverse market with options at many price points.

Question 14

How do I find out how much a house sold for in Crane Lake?

Accepted Answer

Simply search our Crane Lake sold archive. We index recently sold homes specifically by neighbourhood so you can compare apples-to-apples. If you see a "Sold" sign up the street, our MLS® sold listings data will tell you the exact closing price.

Question 15

Are sold prices different from the list price?

Accepted Answer

Often, yes. In competitive markets, house sale prices can be higher than the list price, while in slower markets, they may be lower. Viewing recently sold homes in Crane Lake will show you the "Sale-to-List Ratio," helping you understand the negotiation gap.

Question 16

Do you show all MLS® sold listings for Crane Lake?

Accepted Answer

Our feed captures all MLS® listings sold page data available for Crane Lake. This includes detached homes, condos, and duplexes, ensuring you don't miss any sold real estate listings relevant to your search.

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