"Best Deals" on Lake Minnetonka & Real Estate Report - Oct 2019

Dated: 11/22/2019

Views: 463

Lake Minnetonka preparing for its winter slumber.

Docks and boat lifts are pretty much out and the musky fishermen have the run of the lake. For those of us trying to enjoy the Lake, it’s been a hard transition into fall with unusually cool and wet weather. Enjoy the change of seasons while you can … whether it be on Lake Minnetonka or your favorite fall retreat.

The 2019 Lake Minnetonka real estate market has experienced another good year even though the median and average price of a lakefront home are down from last year’s record highs and are trending back to 2017 results (see below). YTD, 117 LM homes have Sold compared to 124 LY with a Median price of $1,300,000 (-14%) and Average price of $1,529,539 (-23%). The big change in this year’s average price is due to only 22 homes sold over $2M compared to 43 LY. The current inventory of only 64 lakefront homes is down from 82 LY. Days on market (DOM) has also gone down to 140 days compared to 199 days LY.

As the summer real estate market starts winding down, the fall season is a great time to shop for a “deal” on the Lake as weary sellers contemplate the end of the selling season. There is still time to put a plan together to make your dreams of lakeshore living come true. Before you do, be sure to view my Welcome to Lake Minnetonka YouTube Video: https://youtu.be/xiN0jdoabi8. I am only a “click” away from helping you find the perfect slice of Lake Minnetonka paradise. With interest rates staying very low, and prices moderating, I expect fall season buyers to take advantage of their buying power even as low inventory continues to affect the market. 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 $5m 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.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.

 

Featured Lakefront Property – 29 Fairhope Ave, Tonka Bay MN (Lafayette Bay)

 

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Exceptional, fully renovated, Lake Minnetonka home in the heart of Tonka Bay. Private setting with gorgeous panoramic views of Lafayette Bay and lower lake. Every aspect of the comprehensive renovation reflects amazing attention to deal, high end finishes, and the newest home building technology. Professionally designed to create the warmth and charm of a Modern Farmhouse style home. By any measure, this lake home looks and feels like new construction. Minnetonka schools. Near Excelsior. Click on following link to view video and details.

 

WATCH VIDEO: https://app.press-play.media/29-fairhope-ave-excelsior-4128/branded

Click the following link to view the MLS listing: 29 Fairhope Ave, Tonka Bay
https://matrix.northstarmls.com/DE.asp?ID=21543857056

 

“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 view the listings: Top Picks $3m-$5m
https://matrix.northstarmls.com/DE.asp?ID=22249547251

Click the following link to view the listings: Top Picks $2.5m-$3m
https://matrix.northstarmls.com/DE.asp?ID=22249540010

Click the following link to see listings: Top Picks $2.0m-$2.5m
https://matrix.northstarmls.com/DE.asp?ID=22249537654

Click the following URL to see listings: Top Picks $1.5m-$2.0m
https://matrix.northstarmls.com/DE.asp?ID=22249529765

Click the following URL to see listings: Top Picks $1m-$1.5m
https://matrix.northstarmls.com/DE.asp?ID=22249518609

Click the following URL to see listings: Top Picks $700k-$1m
https://matrix.northstarmls.com/DE.asp?ID=22249486778

Click the following URL to see listings: Top Picks Under $700k
https://matrix.northstarmls.com/DE.asp?ID=22249479255

Click the following URL to see listings: Lakeshore Lots
https://matrix.northstarmls.com/DE.asp?ID=22249560463

Click the following URL to see listings: Deeded Access/Dock
https://matrix.northstarmls.com/DE.asp?ID=22249473319

Click the following link to view the listings: Condo/Town Home
https://matrix.northstarmls.com/DE.asp?ID=22249454122


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

 

 

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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