Waterfront property market heating up
If the housing market is heating up, the waterfront market is already hot, according to Edina Realty.
So far this year, home sales in Minnesota and western Wisconsin are up 19 percent, Edina Realty reported, adding while sales of waterfront properties – land on or with views of lakes, rivers and ponds — are up 121 percent over last year.
So far, 1,657 waterfront properties sold, compared to 749 last year. Edina Realty experts say that sales of waterfront properties typically peak during the summer months; nearly one in four sales took place in July or August last year.
Minnesota and western Wisconsin are known for their lakeshore properties, attracting both residents and non-residents,” said Bob Peltier, president and CEO of Edina Realty Home Services, in a news release.
According to Edina Realty, the top 10 non-metro cities with the highest number of waterfront properties for sale (most to least) are Hayward, Crosslake, Park Rapids, Aitkin, Alexandria, Brainerd, Walker, Ely, Detroit Lakes, and Pequot Lakes.