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

Dated: May 11 2023

Views: 309

April 19, 2023 was the official ice-out date on Lake Minnetonka, just a few days later than last year. However, the cool spring weather and higher interest rates, have cooled the LM real estate market as well.  YTD, 28 LM homes have Sold compared to 35 LY (-20%) with a Median price softening to $1,535,000 (-22%) and Average price of $2,637,857 (+8%). The current inventory of only 28 lakeshore homes is comparable to the LY historic low. Pending sales of 14 properties also reflects a softening in YTD selling activity. Interesting to note that of the 28 Active lakeshore listings, only 5 are under $2m.

With the spring market 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 and Sellers Guide” video at https://youtu.be/xiN0jdoabi8 . Lake Minnetonka … Few know it as well. No one knows it better! A Lake Minnetonka resident for over 30 years.

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, municipalities, and schools. Be sure to check out my website at 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....

Latest Blog Posts

Best Real Estate Deals on Lake Minnetonka & 2023 LM Real Estate Recap

With the holiday season now behind us, Lake Minnetonka has gone into its winter slumber. Let’s hope for a continued mild winter with anticipation of early ice-out. As we close 2023, 114

Read More

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

With the Holiday Season soon upon us, Lake Minnetonka prepares for its winter slumber after a gorgeous fall season. YTD, 103 lakefront properties have sold on Lake Minnetonka compared to 121

Read More

Lake Minnetonka Report & Features Listing - August 2023

Hope you’re enjoying a great summer! There’s no better way to beat the summer heat than at your favorite lakeside oasis. YTD Aug, 63 lakefront properties have sold on Lake Minnetonka

Read More

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

April 19, 2023 was the official ice-out date on Lake Minnetonka, just a few days later than last year. However, the cool spring weather and higher interest rates, have cooled the LM real estate

Read More