Happy 4th of July! Whether it be here or far, enjoy a safe and restful holiday at your favorite lakeside oasis. As we enter the month the July, the Lake Minnetonka real estate market is off to a
"Best Real Estate Deals" on Lake Minnetonka & Real Estate Report - July 2020
Dated: 06/26/2020
Views: 136
Happy 4th of July! Whether it be here or far, enjoy a safe and restful holiday at your favorite lakeside oasis.
As we enter the month the July, the Lake Minnetonka real estate market is off to a slower start for reasons we understand. YTD, 44 lakefront properties have sold on Lake Minnetonka compared to 57 last year with a median price of $945,000 and average price of $1,482,409, down slightly from last year.
With a current inventory of only 60 lakeshore homes, we continue to see much lower inventory and moderating prices with many buyers and sellers hitting the pause button even as interest rates hit historical lows. With the current Covid-19 conundrum, the only thing we know for sure is that market change is inevitable. The health of our economy, interest rates, supply and demand, will continue to determine market value.
With summer 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. Before you start your search, click on my “Lake Minnetonka Buyers & Sellers Guide ” 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)
Just Reduced! 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.
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=22963406273
“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=23111590574
Click the following link to view the listings: Top Picks $2.5m-$3m
https://matrix.northstarmls.com/DE.asp?ID=23111574281
Click the following link to see listings: Top Picks $2.0m-$2.5m
https://matrix.northstarmls.com/DE.asp?ID=23112041285
Click the following URL to see listings: Top Picks $1.5m-$2.0m
https://matrix.northstarmls.com/DE.asp?ID=23111549497
Click the following URL to see listings: Top Picks $1m-$1.5m
https://matrix.northstarmls.com/DE.asp?ID=23111538478
Click the following URL to see listings: Top Picks $700k-$1m
https://matrix.northstarmls.com/DE.asp?ID=23111528069
Click the following URL to see listings: Top Picks Under $700k
https://matrix.northstarmls.com/DE.asp?ID=23111505717
Click the following URL to see listings: Lakeshore Lots
https://matrix.northstarmls.com/DE.asp?ID=23111639698
Click the following URL to see listings: Deeded Access/Dock
https://matrix.northstarmls.com/DE.asp?ID=23111611977
Click the following link to view the listings: Condo/Town Home
https://matrix.northstarmls.com/DE.asp?ID=23111623914
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:
- 143 lakefront homes sold in 2018 compared to 183 in 2017 (-22%)
- Average price was $1,989,818 was up +23% surpassing the all-time high set in 2006.
- Median price of $1,550,00 was up +29%
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
www.ConradRoal.LakesAreaRealty.com
Conrad Roal
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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