Conrad – “Best Deals” on Lake Minnetonka & Real Estate Report – Ice-Out Prediction?

Spring has finally arrived though today you would be hard pressed to notice … a bit déjà vu of last April. As you may remember, last year’s ice-out date of May 5 tied for the latest on record. I’m thinking that once we get through this final round of winter weather, it could be another 10 days before ice-out is officially declared. What’s your ice-out prediction? Also, check out the LM ice-out dates provided by the Fresh Water Society dating back to 1855 at https://freshwater.org/ice-out-dates-for-lake-minnetonka/

With winter finally gives way to spring, the Lake Minnetonka spring real estate market is off to a good start. YTD, 25 LM homes have Sold compared to 17 LY with a Median price of $975,000 (+2.6%) and Average price of $1,312,259 (-23%). It’s important to note that in Q1 LY, there were a couple of very high end homes sold that greatly influenced the average price. With the current inventory of only 68 lakeshore homes, one could speculate that it may be a year of slightly higher inventory and moderating prices. Just how low the inventory will be and if LM prices can top a record year last year is hard to say, though supply and demand, interest rates, and a growing economy growth, will again influence market value.

As mentioned, a total of 142 single family lakefront properties were SOLD in 2018 compared to 183 in 2017 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. 

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.

Featured Non-MLS Property – Available Mid-May

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 4 bedroom, 3 bath, 3 fireplace lake home looks and feels like new construction. Minnetonka schools. Near Excelsior. Offered at $2,295,000. Click on following link to view photos and details. http://bit.ly/29FairhopeAve 

 

Click the following link to view the listings: Top Picks $3m-$5m
https://matrix.northstarmls.com/DE.asp?ID=21395439229

Click the following link to view the listings: Top Picks $2.5m-$3m
https://matrix.northstarmls.com/DE.asp?ID=21395419080

Click the following link to see listings: Top Picks $2.0m-$2.5m
https://matrix.northstarmls.com/DE.asp?ID=21395393097

Click the following URL to see listings: Top Picks $1.5m-$2.0m
https://matrix.northstarmls.com/DE.asp?ID=21395382333

Click the following URL to see listings: Top Picks $1m-$1.5m
https://matrix.northstarmls.com/DE.asp?ID=21395348218

Click the following URL to see listings: Top Picks $700k-$1m
https://matrix.northstarmls.com/DE.asp?ID=21396835041

Click the following URL to see listings: Top Picks Under $700k
https://matrix.northstarmls.com/DE.asp?ID=21395199921

Click the following URL to see listings: Lakeshore Lots
https://matrix.northstarmls.com/DE.asp?ID=21395486761

Click the following URL to see listings: Deeded Access/Dock
https://matrix.northstarmls.com/DE.asp?ID=21395182407

Click the following link to view the listings: Condo/Town Home
https://matrix.northstarmls.com/DE.asp?ID=21395131056

Click the following link to view the listings: TNAS (Temporarily Not Available for Show)
https://matrix.northstarmls.com/DE.asp?ID=21382759780

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