Happy Holidays! Wishing you a joyful, thankful, healthy holiday season, and Brighter New Year. The 2020 Lake Minnetonka real estate market has experienced an extraordinary year in spite of the many
"Best Deals" on Lake Minnetonka and Real Estate Report - December 2020
Dated: December 2 2020
Wishing you a joyful, thankful, healthy holiday season, and Brighter New Year.
The 2020 Lake Minnetonka real estate market has experienced an extraordinary year in spite of the many Covid-19 hurdles that have come our way. YTD, 157 LM homes have Sold compared to 139 LY (+13%) with a Median price of $1,360,000 (+11%) and Average price of $1,770,000 (+19%). The current inventory of only 28 lakefront homes, the fewest I’ve seen, is down from significantly from LY. Days on market (DOM) is down to 118 days compared to 143 days LY.
With the summer winding down, 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 at historic lows, I expect buyers to take advantage of their buying power this winter even as low inventory continues to impact the market.
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 view properties in TNAS status (Temporarily Not Available to Show) as they may be available for sale though taken off the market during the holiday and winter months. Contract me for NON-MLS properties on the Lake.
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.
My Featured Listings:
45 Fairhope Ave, Tonka Bay MN (Lafayette Bay) – SOLD IN 6 DAYS!
Nantucket meets Lake Minnetonka in this extraordinary beach house with 98’ of prime lakeshore on Lafayette Bay. A private walking bridge leads to a small island where 45 Fairhope is the only home providing a very private and tranquil setting. This architecturally designed residence features incredible panoramic views of the lake. Watch Video: https://tours.spacecrafting.com/nvideo-2v1c
29 Fairhope Ave, Tonka Bay MN (Lafayette Bay) – SOLD!
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. Click on following link to view video and details. Watch Video: https://app.press-play.media/29-fairhope-ave-excelsior-4128/branded
“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
2019 Lake Minnetonka Real Estate Highlights:
- 142 lakefront homes sold compared to 143 in 2018.
- Average price was $1,496,716 was down 25%
- Median price of $1,261,350 was down 19%
- It is important to note that in 2018 the Median and Average price reached an all-time high with the help of 51 homes selling for over $2m compared to only 26 in 2019 … much the result of very low inventory in homes over $2m.
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%)
- 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%).
Agent / Assoc. Broker / Captain
Lake Minnetonka | West Metro | Minneapolis Lakes
Lakes Area Realty
37 Water Street, Excelsior MN 55331
Conrad Roal, a former executive with two Fortune 500 companies, has built a successful real estate career on the foundation of service excellence. He brings core values such as honesty and integrity t....
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