“Best Deals” on Lake Minnetonka & LM Real Estate Report – 1/2019

Even with the frigid cold temperatures, the Minneapolis Boat Show (1/24-1/28) reminds us that it will be summer again … someday.

With the Lake Minnetonka real estate market in its winter slumber, it’s a great time to recap the extraordinary real estate results on Lake Minnetonka in 2018. The HEADLINES … Inventory and number of homes sold were 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.

In 2018, a total of 142 single family lakefront properties were SOLD compared to 183 last year down -22.5%, much reflecting the low inventory. By any measure, the increase in both the median and average price of a single family home lakefront home was impressive. The Median price of $1,542,500 was up +28.5% and the Average price of $1,977,281 was up +22.3% 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.

Before you start your search, click on my “Welcome to Lake Minnetonka” video at https://youtu.be/xiN0jdoabi8.  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 19 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 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
https://matrix.northstarmls.com/DE.asp?ID=21071470280

Click the following link to view the listings: Top Picks $2.5m-$3m
https://matrix.northstarmls.com/DE.asp?ID=21071434822

Click the following link to see listings: Top Picks $2.0m-$2.5m
https://matrix.northstarmls.com/DE.asp?ID=21071398630

Click the following URL to see listings: Top Picks $1.5m-$2.0m
https://matrix.northstarmls.com/DE.asp?ID=21071388645

Click the following URL to see listings: Top Picks $1m-$1.5m
https://matrix.northstarmls.com/DE.asp?ID=21071347883

Click the following URL to see listings: Top Picks $700k-$1m
https://matrix.northstarmls.com/DE.asp?ID=21071321604

Click the following URL to see listings: Top Picks Under $700k
https://matrix.northstarmls.com/DE.asp?ID=21071302179

Click the following URL to see listings: Lakeshore Lots
https://matrix.northstarmls.com/DE.asp?ID=21071507403

Click the following URL to see listings: Deeded Access/Dock
https://matrix.northstarmls.com/DE.asp?ID=21071203541

Click the following link to view the listings: Condo/Town Home
https://matrix.northstarmls.com/DE.asp?ID=21071196720

Click the following link to view the listings: TNAS (Temporarily Not Available for Show)
https://matrix.northstarmls.com/DE.asp?ID=21071682730

 

2017 Lake Minnetonka Real Estate Highlights:

  • 183 lakefront homes sold compared to 175 in 2016 (+4.6%).
  • Average price was $1,616,982 compared to $1,189,879 in 2016 (+35.9%)
  • Median price was #1,200,000 compared to $944,250 (+12.7%)

2016 Lake Minnetonka Real Estate Highlights:

  • 175 lakefront homes were sold compared to 153 in 2015 (+13.7%).
  • Average price was $1,192,608 compared to $1,349,175 in 2015 (-11.6%). Due to Sharp decline of upper bracket, $2M+, homes.
  • Median price was $945,000 compared to $900,000 in 2015 (+5.0%).

Conrad Roal

Lakes Area Realty

Agent / Assoc. Broker / Captain

Lake Minnetonka | West Metro | Minneapolis Lakes

Cell: 612-889-3051

Fax: 952-960-7970

Conrad@ConradRoal.com

www.LakeMinnetonkaBroker.com