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

Dated: January 8 2024

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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 lakefront properties were sold on Lake Minnetonka compared to 126 last year (-10%) with a median price of $2,275,000 (+16% LY) and average price of $2,763,000 (+6% LY). Though the number of homes sold declined, both the median and average price sold are at record highs. Interesting to note that 57% of the LM homes sold YTD have been cash deals. 

With a current inventory of only 33 lakeshore homes, marginally higher than LY, we continue to see low inventory and strong demand for LM homes. With interest rates moving lower, now is the time to make your move.

As the Lake Minnetonka real estate market goes into its winter slumber, now is your time to put a plan together to make your dreams of lakeshore living come in 2024. 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, contact me for "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 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. 

“Lake Minnetonka … Few know it as well. No one knows it better!  A Lake Minnetonka resident for over 30 years.

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

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%)

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%)

 

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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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