Why Now is the Best Time to Buy a Lake Home in Minnesota

At the end of October, there were about 260 pending sales with an average list price of $495,000. The most expensive pending sale is a $6.9 million lake home that has been on the market for nearly 600 days. It is 68 acres of parkland beauty and 975 feet of pristine shoreline on the south side of Pelican Lake, southwest of Detroit Lakes.

The best shopping days are ahead: From January to March, shoppers typically have twice as much time to consider their options. In February of this year, properties were on the market for an average of 64 days, compared to a low of 17 days in June.

In addition to Lakeplace.com, there are many local brokerage websites, including Edina Realty. These sites have advanced filters that allow you to search for lakefront, waterfront, waterfront, or just land properties. Third-party listing sites like Zillow, for example, allow you to filter for waterfront properties and listings with water views. On Realtor.com, the “More” tab allows you to choose from a variety of search options, including waterfront or lake views.

Facebook Marketplace, Craigslist and other social networking sites often include listings for lake homes, especially those for sale by owner.

If you don’t like a particular area, you can visit the Department of Natural Resources’ Lake Finder websites in Minnesota and Wisconsin to find a suitable location.

Once you have identified your dream location, it is recommended to visit the nearest city and meet with local brokers. They may not provide their listings to large national brokers and third party listing sites. Local newspapers, message boards and cafes can also be a goldmine for finding hidden advertisements.