Best Real Estate Deals on Lake Minnetonka & Lake Report - February 2023

Dated: February 16 2023

Views: 177

We must be getting close to spring; both the Boat Show and the Super Bowl are behind us and we are getting more rain than snow! We are only a few weeks from the average ice-out date on Lake Minnetonka. The average ice-out is around April 13. The record for the earliest ice-out was March 11, 1878 and the latest was recorded on May 5, 2018 according to Hennepin County.

 A total of 126 lakefront properties sold on Lake Minnetonka last year compared to 173 in 2021 (-28%) with a median price of $1,962,500 (+18% LY) and average price of $2,613,193 (+30% LY). Though the number of homes sold declined, both the median and average price sold are at record highs. Interesting to note that 43% of LM homes sold were cash deals and 21% sold for over $3m. With a current inventory of only 24 lakeshore homes, marginally higher than LY, we continue to see low inventory and strong demand for LM homes. With interest rates moderating, now is the time to make your move.

 As the Lake Minnetonka spring real estate market begins, now is your time to put a plan together to make your dreams of lakeshore living come in 2023. 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. Thinking of making a move, I have a plan. I offer a professional listing package at 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 Listings:

SOLD - 205 West Point Road, Tonka Bay MN (Echo Bay)

Beautiful Lake Minnetonka home with vaulted ceiling, custom built-ins, and open floor plan. Premier .54 acre lake lot with 120' of sandy lakeshore on Echo Bay. Spacious great room with spectacular panoramic views of the lower lake. Best value on the lower lake at $2,895,000. Contact Conrad for details.

WATCH VIDEO – 205 West Point Road: https://tours.spacecrafting.com/b-3mdv

SOLD - 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.

 

Best Deals Under $1.5m

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Best Deals $1.5m-$2.5m

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Best Deals $2.5m-$3.5m

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Best Deals $3.5m-$5m

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Best Deals Over $5m

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Condo & TH

 

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Lakeshore Lots

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2022 Lake Minnetonka Real Estate Highlights:

  • 126 lakefront homes sold compared to 173 in 2021 (-28%)
  • Average price of $2,613,193 (+30%)
  • Median price $1,953,500 (18%)
  • Both reported median and average price Sold are record highs

2021 Lake Minnetonka Real Estate Highlights:

  • 164 lakefront homes sold compared to 173 in 2020
  • Average price of $2,008,000 (+12%)
  • Median price of $1,650,000 (+21%)

2020 Lake Minnetonka Real Estate Highlights:

  • 173 lakefront 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 (-25%)
  • Median price of $1,261,350 (-19%)

2018 Lake Minnetonka Real Estate Highlights:

  • 143 lakefront homes sold in 2018 compared to 183 in 2017 (-22%)
  • Average price was $1,989,818 (+23%)
  • Median price of $1,550,00 (+29%)

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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