Summer slowly gives way to fall as the leaves start to turn and darkness comes early. Lake activity shifts to capturing the few seasonal boating days we have left. For those clinging to their boat keys and a warm sweatshirt, the incredible beauty of the fall season will not disappoint. All the favorite restaurants on the lake are still going strong, and those fishing for Muskie and Walleye … it only gets better as we head into fall. Yet, boats and docks have already started to disappear from the shoreline for another year. Now is the time to put a plan together to make your dreams of lakeshore living come true for 2017 … I am only a “click” away from helping you find the perfect slice of Lake Minnetonka paradise.
Current lakefront listings are at 115 vs. 130 at the last update. YTD, there have been 130 homes sold on Lake Minnetonka, compared to 116 LY. Another 21 homes are “Pending” and will close soon. The average sale price of $1,153,381 is down -14.4% compared to 1,346,710 LY. What’s continues to be very interesting is the median price of $944,250 is up +7% over last year … a clear sign that the upper bracket homes ($2M+) have not been selling at the pace they were last year. In fact, only 12 homes have sold for over $2m YTD compared to 26 LY. Cumulative days on market is 159 compared to 195 LY.
As mentioned, 2015 was also a very good year for real estate on Lake Minnetonka … even with the modest inventory of single family lakefront homes.
With interest rates currently under 4%, I expect another good year on the Lake.
• 152 lakefront homes were sold compared to 132 in 2014 (+16.6%).
• Average price was $1,352,920 compared to $1,247,135 in 2014 (+8.5%).
• Median price was $915,000 compared to $850,000 in 2014 (+7.6%).
• Average price per SqFt was $354.24 compared to $338.78 in 2014 (+4.6%)
• Day on market (CDOM) increased slightly to 200 compared to 168 in 2014.
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 $3m including townhome, condo, and lakeshore lots. Call now for a customized home search specific to your criteria or listing consultation. Contact me for additional information about the Lake including condo’s, town homes, water quality, quality of shore, municipalities, schools, etc. For a full update, check out my mobile friendly website at www.LakeMinnetonkaBroker.com. Also, please “like” my business page on Facebook by clicking on the icon below.
Looking for a GREAT app to keep you up to the minute on what’s happening in the real estate market? Simply copy and paste the link below to your browser to download the Homesnap app. http://www.homesnap.com/real-estate-agents/Conrad-Roal
*** Featured Listings on Lake Minnetonka ***
NEW LISTING !!!
6385 Bay Ridge Road, Mound
Perfectly sloping lot with 150′ of prime south facing lakeshore.
One of the largest lakeshore lots on Halsted Bay (1.15 acre). Boulder Rip-Rap, deep water dock, & shore power.
Comfortable home with many updates is ready for expansion or build dream home.
Priced at $839,900
70 Highland Ave, Tonka Bay
Virtual Tour: https://www.youtube.com/watch?v=BPWa7LqiVFw&hd=1
5,459 FinSqFt * 4BR/4BA * 115’ of Quiet Lagoon Frontage on Gideon’s
Completely Updated with Exceptional Finishes * Minnetonka Schools
1580 Bohns Point Road, Orono – Call me for private showing!
8,514 FinSqFt * 4BR/8BA * 225’ of Prime Level Lakeshore on Crystal Bay * 1.6 Acres
Stunning Home * Beautifully Updated * Views of Crystal Bay from Every Room * Orono Schools
Kevin Frieling, Listing Agent, Lakes Area Realty
Reduced Priced at $3,650,000
60 West Point Ave, Tonka Bay
Prime 75’ Lakeshore Lot on Lafayette Bay – Build or Remodel
West Facing Level Lot with Boulder Rip-Rapped Shoreline
Existing Home is Livable. Live Here as You Develop Plans for Your Dream Home – Building Plans Available
Minnetonka Schools and Minutes to Excelsior
“BEST DEALS” on Lake Minnetonka
Click the following link to view the listings: Top Picks Over $3m
Click the following link to view the listings: Top Picks $2.5m-$3m
Click the following link to see listings: Top Picks $2.0m-$2.5m
Click the following URL to see listings: Top Picks $1.5m-$2.0m
Click the following URL to see listings: Top Picks $1m-$1.5m
Click the following URL to see listings: Top Picks $600k-$1m
Click the following URL to see listings: Top Picks Under $600k
Click the following URL to see listings: Lakeshore Lots
Click the following URL to see listings: Deeded Access/Dock
Click the following link to view the listings: Condo/Town Home
Click the following link to view the listings: Short Sale / Bank Owned
Lake Minnetonka … Few know it as well. No one knows it better!
A Lake Minnetonka resident for over 30 years.
Agent / Assoc. Broker / Captain
Lake Minnetonka | West Metro | Minneapolis Lakes
Lake Minnetonka Resident
For Over 30 Years
Lakes Area Realty