Best Real Estate Deals on Lake Minnetonka & 2021 LM Real Estate Recap

Dated: January 10 2022

Views: 289

Happy New Year!

The 2021 Lake Minnetonka real estate market experienced an extraordinary year in spite of some challending market conditions. The desire for a lakeside oasis on Lake Minnetonka has not been greater. Year ending, 164 homes Sold compared to 173 LY with a Median price of $1,650,000 (+21%) and Average price of $2,008,000 (+12%) and 98.4% of list price. Both the reported median and average price sold are record highs. Of the 164 homes sold, 27 (16.5%) sold for over $3m compared to 20 (11.5%) LY. The highest price paid for a home was $10,375,000. The current inventory of only 9 lakefront homes, the fewest I’ve seen, is down from significantly from LY. Days on market (DOM) was down to 63 days compared to 114 days LY.

With the spring real estate market starting soon, and interest rates remaining near historic lows, 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 Buyer’s & Seller’s 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 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 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.comLooking 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 see listings: Top Picks Over $2.0m
View All Listings

Click the following URL to see listings: Top Picks $1.5m-$2.0m
NO INVENTORY At This Time … More to come!

Click the following URL to see listings: Top Picks $1m-$1.5m
NO INVENTORY At This Time … More to Come!

Click the following URL to see listings: Top Picks Under $1m
View All Listings

Click the following URL to see listings: Lakeshore Lots
View All Listings

Click the following URL to see listings: Deeded Access/Dock
View All Listings

Click the following link to view the listings: Condo/Town Home
No Inventory At this Time … More to come!

Click the following link to view the listings: TNAS
View All Listings


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%)

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

 

 

 

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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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