"Best Real Estate Deals" on Lake Minnetonka & Real Estate Report - October 2020

Dated: October 21 2020

Views: 709

Lake Minnetonka prepares 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 a record 7” snowfall on 10/20. Enjoy the change of seasons while you can … whether it be on Lake Minnetonka or your favorite fall retreat.

The 2020 Lake Minnetonka real estate market has experienced another very good year in spite of the many Covid-19 hurdles that have come our way.  YTD, 133 LM homes have Sold compared to 114 LY with a Median price of $1,260,000 (-3%) and Average price of $1,655,000 (+15%). The current inventory of only 39 lakefront homes is down from approximately 64 LY. Days on market (DOM) is down to 119 days compared to 145 days LY.

With the summer winding down, 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. With interest rates at historic lows, I expect buyers to take advantage of their buying power this fall even as lower inventory continues to affect the market.

Before you start your search, click on my “Welcome to Lake Minnetonka” 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 $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 Listings:

45 Fairhope Ave, Tonka Bay MN (Lafayette Bay) – Sold in 6 Days!

Nantucket meets Lake Minnetonka in this extraordinary beach house with 98’ of prime lakeshore on Lafayette Bay. A private walking bridge leads to a small island where 45 Fairhope is the only home providing a very private and tranquil setting. This architecturally designed residence features incredible panoramic views of the lake.

Watch Video: https://tours.spacecrafting.com/nvideo-2v1c

Click the following link to view the listing:

https://matrix.northstarmls.com/DE.asp?ID=23282968872

29 Fairhope Ave, Tonka Bay MN (Lafayette Bay) – “Pending”

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. Click on following link to view video and details.

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

Click the link to view the MLS listinghttps://matrix.northstarmls.com/DE.asp?ID=23645307000


“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=23644805027

Click the following link to view the listings: Top Picks $2.5m-$3m
https://matrix.northstarmls.com/DE.asp?ID=23644735928

Click the following link to see listings: Top Picks $2.0m-$2.5m
https://matrix.northstarmls.com/DE.asp?ID=23644713962

Click the following URL to see listings: Top Picks $1.5m-$2.0m
https://matrix.northstarmls.com/DE.asp?ID=23644688014

Click the following URL to see listings: Top Picks $1m-$1.5m
https://matrix.northstarmls.com/DE.asp?ID=23644679282

Click the following URL to see listings: Top Picks $700k-$1m
https://matrix.northstarmls.com/DE.asp?ID=23644671459

Click the following URL to see listings: Top Picks Under $700k
https://matrix.northstarmls.com/DE.asp?ID=23644662153

Click the following URL to see listings: Lakeshore Lots
https://matrix.northstarmls.com/DE.asp?ID=23644839892

Click the following URL to see listings: Deeded Access/Dock
https://matrix.northstarmls.com/DE.asp?ID=23644776471

Click the following link to view the listings: Condo/Town Home
https://matrix.northstarmls.com/DE.asp?ID=23644778735


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:

  • 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....

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