“Best Deals” on Lake Minnetonka & December 2018 LM Real Estate Report

Happy Holidays and Merry Christmas!

What a year it has been. With the Lake Minnetonka real estate market going into its winter slumber, it’s a meaningful time to recap the extraordinary real estate results on Lake Minnetonka, 2018 YTD. The HEADLINES … Inventory and number of homes sold are down as the average and median price, of single family lakeshore homes, reaches a new high. With interest rates and inventory creeping up, the only thing we know for sure is that market change is inevitable. The health of our economy, interest rates, and supply and demand, will again determine market value.

YTD, a total of 140 single family lakefront properties have been SOLD compared to 176 last year down -20%, much reflecting the low inventory. By any measure, the increase in both the median and average price of a single family home lakefront home is impressive. The Median price of $1,560,000 is up +30% and the Average price of $2,000,253 is up +23% surpassing the all-time high set in 2006.

With the 2018 real estate market behind us, now is your time to put a plan together to make your dreams of lakeshore living come true in 2019! I am only a “click” away from helping you find the perfect slice of Lake Minnetonka paradise. With interest rates still relatively low, I expect 2019 to be another very good year as the LM real estate market starts to wake up from its winter slumber mid-February.

For those looking for a summer cottage or a upper bracket home on the Lake, be sure to click on the safe MLS links below to view my "Best Deals" of all active listings under $5m including townhome, condo, and lakeshore lots. Be sure to also view the homes in the TNAS status (Temporarily Not Available For Show) as many are simply taken off the market for the winter months and still available for sale.

Call now for a customized home search specific to your criteria or listing consultation. I offer a professional listing package at a competitive commission rate. Contact me for additional information about the Lake including water quality, quality of shore, municipalities, and schools. Be sure to check out my website at www.LakeMinnetonkaBroker.com. Looking for a GREAT app to help you in your home search? Simply copy and paste the link below to your browser to download the HomeSnap app. http://www.homesnap.com/real-estate-agents/Conrad-Roal.

“BEST DEALS” on Lake Minnetonka … Few know it as well. No one knows it better!  A Lake Minnetonka resident for over 30 years.

Click the following link to view the listings: Top Picks $3m-$5m

Click the following link to view the listings: Top Picks $2.5m-$3m

Click the following link to see listings: Top Picks $2.0m-$2.5m

Click the following URL to see listings: Top Picks $1.5m-$2.0m

Click the following URL to see listings: Top Picks $1m-$1.5m

Click the following URL to see listings: Top Picks $700k-$1m

Click the following URL to see listings: Top Picks Under $700k

Click the following URL to see listings: Lakeshore Lots

Click the following URL to see listings: Deeded Access/Dock

Click the following link to view the listings: Condo/Town Home

Click the following link to view the listings: TNAS (Temporarily Not Available for Show)

 2016 Lake Minnetonka Real Estate Highlights:

  • 175 lakefront homes were sold compared to 153 in 2015 (+13.7%).
  • Average price was $1,189,879 compared to $1,349,175 in 2015 (-11.8%). Due to Sharp decline of upper bracket, $2M+, homes.
  • Median price was $944,250 compared to $900,000 in 2015 (+4.9%).
  • Day on market (CDOM) decreased slightly to 182 compared to 200 in 2015.
  • Homes sold, on average, at 94% of list price, up from 93% in 2015.

Conrad Roal

Lakes Area Realty

Agent / Assoc. Broker / Captain

Lake Minnetonka | West Metro | Minneapolis Lakes

Cell: 612-889-3051

Fax: 952-960-7970