Best Deals on Lake Minnetonka & Real Estate Report - July 2022

Dated: July 1 2022

Views: 325

Happy 4th of July! Whether it be near or far, enjoy a safe and restful holiday. If you’re feeling a need to stay closer to home, there’s no better place to be than your own lakeside oasis on Lake Minnetonka.

YTD, 58 lakefront properties have sold on Lake Minnetonka compared to 71 last year with a median price of $1,987,500 (+24% LY) and average price of $2,681,222 (+44% LY).The significant increase in average price is the result of 32% of LM homes selling for over $3m as compared to only 14% LY. Interesting to note that 45% of the LM homes sold YTD have been cash deals compared to 27% LY. 

With a current inventory of only 37 lakeshore homes, marginally higher than LY, we continue to see low inventory and high demand for LM homes. With interest rates moving higher, now is the time to make your move.

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 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. 

Featured Lake Minnetonka Listing – 120 West Point Road, Tonka Bay MN (Lafayette Bay)

 

Enjoy lake living in the heart of Tonka Bay. Charming, Nantucket style home with .78 acres, sprawling lakeside yard, and 70' of level lakeshore on beautiful Lafayette Bay. Offered at $1,895,000. Contact Conrad for details. WATCH VIDEO – 120 West Point Road: https://tours.spacecrafting.com/bvideo-3kdf

“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 $5m +

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Click the following URL to see listings: Top Picks $3.5m-$5.0m

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Click the following URL to see listings: Top Picks $2.5m-$3.5m

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Click the following URL to see listings: Top Picks $1.5m-$2.5m

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Click the following URL to see listings: Top Picks Under $1.5m

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Click the following URL to see listings: Lakeshore Lots

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

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Click the following link to view the listings: Condo/Town Home

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2021 Lake Minnetonka Real Estate Highlights:

  • 164 homes Sold compared to 173 in 2021
  • Average price of $2,008 (+12%)
  • Median price of $1,650,000 (+21%)
  • Both reported median and average price Sold are record highs.

2020 Lake Minnetonka Real Estate Highlights:

  • 173 LM homes Sold compared to 142 in 2019
  • Average price of $1,783,000 (+20%)
  • Median price of $1,360,000 (+8%)

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

Conrad@ConradRoal.com

www.LakeMinnetonkaBroker.com

 

Blog author image

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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