“Best Deals” on Lake Minnetonka & Real Estate Report – August 8

Enjoy summer on Lake Minnetonka!

As we move into mid-summer, we thrive in 90 degree temperatures, 80 degree lake water, a well-stocked cooler, and throttle in hand. Whether it be here or far, enjoy summer on the lake.   

The Lake Minnetonka real estate market is experiancing another good year. YTD, 78 LM homes have Sold compared to 71 LY with a Median price of $1,283,850 (+6.2%) and Average price of $1,496,880 (-17.7%). The big change in this year’s average price is due to only 14 homes sold over $2M compared to 26 LY. The current inventory of only 78 lakefront homes is down 9% from LY. Days on market (DOM) has also gone down to 144 days compared to 207 days LY.

With the summer now in full swing, now is your time to put a plan together to make your dreams of lakeshore living come true. I am only a “click” away from helping you find the perfect slice of Lake Minnetonka paradise. With interest rates staying very low, I expect 2019 to be another very good year.

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.

Call now for a customized home search specific to your criteria or listing consultation. I offer a professional listing package at a below market 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.

Featured Lakefront Property – 29 Fairhope Ave, Tonka Bay MN (Lafayette Bay)

Exceptional, fully renovated, Lake Minnetonka home in the heart of Tonka Bay. Private setting with gorgeous panoramic views of Lafayette Bay and lower lake. Every aspect of the comprehensive renovation reflects amazing attention to deal, high end finishes, and the newest home building technology. Professionally designed to create the warmth and charm of a Modern Farmhouse style home. By any measure, this lake home looks and feels like new construction. Minnetonka schools. Near Excelsior. Click on following link to view video and details. OPEN HOUSE Sunday, August 11, 12-2pm.

WATCH VIDEO: https://app.press-play.media/29-fairhope-ave-excelsior-4128/branded

Click the following link to view the MLS listing: 29 Fairhope Ave, Tonka Bay
https://matrix.northstarmls.com/DE.asp?ID=21543857056

 

“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=21938032065

Click the following link to view the listings: Top Picks $2.5m-$3m
https://matrix.northstarmls.com/DE.asp?ID=21938000081

Click the following link to see listings: Top Picks $2.0m-$2.5m
https://matrix.northstarmls.com/DE.asp?ID=21937977689

Click the following URL to see listings: Top Picks $1.5m-$2.0m
https://matrix.northstarmls.com/DE.asp?ID=21937965896

Click the following URL to see listings: Top Picks $1m-$1.5m
https://matrix.northstarmls.com/DE.asp?ID=21937944487

Click the following URL to see listings: Top Picks $700k-$1m
https://matrix.northstarmls.com/DE.asp?ID=21937908780

Click the following URL to see listings: Top Picks Under $700k
https://matrix.northstarmls.com/DE.asp?ID=21937840469

Click the following URL to see listings: Lakeshore Lots
https://matrix.northstarmls.com/DE.asp?ID=21938066033

Click the following URL to see listings: Deeded Access/Dock
https://matrix.northstarmls.com/DE.asp?ID=21937814169

Click the following link to view the listings: Condo/Town Home
https://matrix.northstarmls.com/DE.asp?ID=21937768806

2018 Lake Minnetonka Real Estate Highlights:

  • 142 lakefront homes sold in 2018 compared to 183 in 2017 (-22.5%)
  • Average price was $1,977,281 was up +22.3% surpassing the all-time high set in 2006.
  • Median price of $1,542,500 was up +28.5%

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

Agent / Assoc. Broker / Captain

Lake Minnetonka | West Metro | Minneapolis Lakes

Lakes Area Realty

37 Water Street, Excelsior MN 55331

Cell: 612-889-3051

Fax: 952-960-7970

Conrad@ConradRoal.com

www.LakeMinnetonkaBroker.com

www.ConradRoal.LakesAreaRealty.com