Summer is coming and traditionally the peak season for real estate sales
Half of all properties sold in Lakes Country in 2018 closed during the months of June and September.
These 4 months are the most active and if you find the perfect property for yourself you may want to secure your lake life destination.
Comparing 2018 numbers with this year’s marketplace we noticed that the amount of transactions is down by more than 10% year to date but the property volume in dollars is only down by 5%. This is an indicator for more higher priced property transactions. The value of lake shore property has been steady and increased most of the time during the past 5 years. These numbers do not mean that all lake shore has become more expensive however buyers are spending more money on properties in Lakes Country.
Due to the fact that many buyers found particular lakes to be more desirable the prices on these lakes have increased more than on other lakes. That is a normal market reaction as we have limited shore line and properties available on each lake. Most lakes in Becker county, which are closer to the Fargo- Moorhead area, are more expensive than lakes in Otter Tail county. We have seen much more interest in Lakes around the Perham area these past years and buyers found adding 15 minutes to their drive into the weekend not to be an obstacle. Franklin Lake and Lake Lida have also grown in popularity and you will find a lot of more affordable property around Dent by the McDonald Lake chain and on Star Lake.
When buying lake shore property it is very difficult to compare. The purchase of recreational real estate is very different from buying a home in the City. There are many variables to consider which will determine which lake is the right one for you and which property suits your wants and needs most. We find that prices in lakes country are often driven more emotionally than metro prices. You can compare buying lake shore with buying a piece of art. Each property is unique. Location, direction, elevation, neighbors, beach, and many more aspects are making lake shore property a unique piece of nature. Some buyers are willing to spend more on a piece of property simply because it is exactly what they have been looking for in a lake life property.
Selling property in our area is more than just selling real estate. You are buying a lifestyle and it holds a different value with your purchase. Finding the right place for you to enjoy lake life is a task we are very passionate about at Jack Chivers Realty. We live lake life year-round and like to show you what that means. Take advantage of our experience and knowledge during the process. We love lake life and we know a place for you. Greetings from Lakes Country!