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Lake Elmo Real Estate & Homes for Sale in Minnesota
Home to approximately 8,000 happy residents, the city of Lake Elmo is located less than 20 miles east of St. Paul, offering a blend of city conveniences with the appeal of a quiet, rural hideaway.
Located in Washington County just southwest of Stillwater, Lake Elmo offers plenty of recreational opportunities and community events to the populace. The city is surrounded by farmland that gives it a pastoral feel yet with its suburban location, is only minutes from the downtown arts, entertainment and nightlife of the Twin Cities.(more)
As a "community of communities," Lake Elmo features more than 30 distinct neighborhoods with a median housing price of around $370,000. From established neighborhoods with large treed lots, to custom new developments with attention to open space, Lake Elmo's real estate market features quality construction and an excellent quality of life. Lake Elmo also offers access to quality schools, health care facilities, churches and recreational opportunities to its residents.
Just minutes from the Minneapolis and St. Paul metro areas, Lake Elmo commuters can hop on the main route of Interstate Highway 94 and/or the 694 for easy access to the city. The appeal of countryside living, a diverse housing market and proximity to big city amenities make Lake Elmo an excellent place to call home.
Lake Elmo Real Estate Market Info - Prices of Houses for Sale in Lake Elmo
Lake Elmo offers a fine selection of affordably priced homes for sale to meet most any wish list and budget. Lake Elmo features mature neighborhoods, new subdivision developments and country properties, including ranch, two-storied traditional, cottage, split levels and custom built styles. Lake Elmo homes offer spacious floor plans, outdoor entertaining space, pools, multi-car garages and landscaped lawns. Lake Elmo's single-family homes start from $150,000 and can go up to $1 million or more for exclusive amenities and expansive property. Town homes and condominiums are not as widely available, but can be found from $100,000 to $300,000 in neighboring communities. Land property in Lake Elmo ranges from $50,000 to $500,000 depending on acreage and development opportunities.
Lake Elmo, Minnesota Average Home Sizes and Asking Prices
Lake Elmo Real Estate Stats and Trends for the week of March 29th, 2020: homes priced around $593,339 compared to $593,339 the previous week, to remain steady with no change in listing price. For Sunday, March 29th, the current national mortgage rate for a 30 year fixed mortgage is 4.51%; the 15 year fixed rate is at 3.90%. For a loan larger than conventional conforming loans, or 'jumbo' loan, the 30 year rate is 4.41%, while the 15 year jumbo rate currently is at 4.12%.