Lake Minnetonka Real Estate - Lake Shore
Lake Minnetonka Lake Shore Market Statistics
The Lake Minnetonka lake shore real estate market can be an entirely different animal from the rest of the real estate market herd, in up times and down times. Below are some market statistics specifically pertaining to the Lake Minnetonka area lake shore real estate market. The criteria we are using here are all sold single family homes on lake or waterfront real estate in the Lake Minnetonka MLS area.
The chart to the left (click for larger image) the real estate bubble effect on Lake Minnetonka lake shore prices over the past few years. After a rapid rise in real estate prices, the Lake Minnetonka area is now experiencing a sharp drop. The next chart illustrates the volatile cycle of the Lake Minnetonka are lake shore and waterfront property market.
Notice the relative calm of the Lake Minnetonka lake shore market from Q1 of 2000 until Q2 of 2004 compared to the volatility since (click for larger image). Some of the sale price volatility can be attributed to the smaller number of sales happening in the market, as illustrated by this chart.
Notice the dip in properties sold (click for larger image), which coincides with the volatility seen in the average sale price. It remains to be seen where this market will eventually wind up, but we should have a better idea once activity begins to return to "normal" levels.
All charts are created by data obtained from the MLS. Lake Minnetonka area statistics include real estate transactions for all or parts of Deephaven, Shorewood, Woodland, Wayzata, Minnetonka Beach, Tonka Bay, Excelsior, St. Bonifacious, Minnetrista, Mound, Orono, Spring Park and Long Lake. Accuracy is not guaranteed.
