Lake Minnetonka Real Estate Update – September 2007

Looking to buy a luxury home in Minneapolis? Well, the place to be is Lake Minnetonka. The most active price range of 2007 has been the $1-2 Million market and is the most affordable for the area. Fall is upon us and now is a great time to take a tour of homes for sale via the water and also enjoy the changing colors.

1 Million – 2 Million : The most active high-end price range just got more active this month, again. This time more homes moved to PENDING, eleven to be exact, and 5 of last months six closed for the month of September. However, active listings still remain high at 141.

2 Million – 3 Million : This bracket saw a another decrease in active listings. There are 41 active homes for sale and only 1 pending. Four homes closed this month, 1 more than in August.

3 Million – 5 Million : Always the bracket to be active or slow, the month of September was the reverse of last month and gained more listings – holding steady at 21 listings. Nothing sold this month as last month’s only pending is still waiting to close.

5 Million + : The uber-bracket of Minneapolis real estate currently has 11 homes for sale, which is two more than last month. No homes have been put under contract nor did any sell this past month either. Last month’s most expensive home on Lake Minnetonka priced at $15.9 Million just got beat out by a new listing on Lake Minnetonka for $53.5 Million!!!

Leave a Comment