At the end of October, there were nearly 260 pending sales with a median list price of $495,000. The most expensive pending sale is a $6.9 million lake home that’s been on the market for nearly 600 days. It’s 68 acres of parklike wooded beauty and 975 feet of pristine shoreline on the south side of Pelican Lake, southwest of Detroit Lakes.
The best days for shopping are ahead: In January through March, buyers generally have twice as much time to consider their options. In February of this year, properties were on the market for a median of 64 days compared with a low of 17 days in June.
In addition to lakeplace.com, there are many websites local brokerages operate, including Edina Realty. Those sites have advanced filters that let you search for lakefront, waterfront, riverfront or just land properties. Third-party listings sites such as Zillow, for example, let you filter for waterfront properties and listings with a view of water. On realtor.com, the “more” tab lets you select from a variety of search options, including waterfront and lake view.
Facebook Marketplace, Craigslist and other social media sites often include lake home listings, especially those for sale by owner.
If you don’t have your heart set on a specific area, you can check out the Department of Natural Resources’ Lake Finder websites in both Minnesota and Wisconsin to find your preferred spot.
If you’ve identified your dream location, it’s a good idea to visit the nearest town to it and meet with local brokers. They might not feed their listings to the bigger national brokers and third-party listing sites. Local newspapers, bulletin boards and coffee shops can also be a goldmine for discovering under-the-radar listings.
