Brainerd Lakes Area is #3 in 2023 - Places to buy a lake home in U.S.
Starting in 2019, the buyer demand for lake properties and the lifestyle that our area offers has been at unprecedented levels. These are the same conditions that all secondary home markets in the northern part of the U.S. are benefiting from. Several of the buyers who purchased using Larson Group had originally started looking at different parts of the country for second homes. The majority opinion was that our market was one of the best values. This thinking was confirmed by an article from CNBC that ranked the Brainerd Lakes area as the 3rd best place to buy a lake home in the U.S in 2023. So much for hiding out in the Brainerd Lakes area!
Sales have been consistent with residential lake homes and lakeshore lots over the past three years. In 2022, the Whitefish Chain of Lakes (in all market segments) had 94 sales, in 2021 there were 107 sales, and in 2020 there were 163. For our non-chain lakes, there were 121 sales in 2022, 147 sales in 2021, and 165 in 2020. The number of vacant land sales for non-chain lakes in 2022 was 30, 61 in 2021, and 77 in 2020. The numbers were very consistent considering the amount of appreciation that we have seen over this same time period. In the summer & fall of 2022, the market started to produce sales at price levels that are historically high, even higher than in 2006. Going into 2023, we are optimistic that the buyer demand will stay high. We feel there are buyers who started looking in the last few years who remain motivated to find properties this spring, many of whom may have missed out on one or more homes due to competing offers in the past. We also feel that the lifestyle that we enjoy is as desirable now as anytime in the past 5 years. Inventory levels and general economic market conditions will be a determining factor in buyer motivation that will play into the confidence level buyers will possess in paying historically high prices. The team at Larson Group is ready to help navigate.
Other Updates from Larson Group Real Estate Keller Williams Realty Professionals:
Road construction is set to begin this spring at the intersections of County Road 11 and County Road 3 south of Crosslake, with the intersection being transitioned into a roundabout. The project is expected to begin at the end of April and will take about 8 weeks to complete. There will be two detours available, and while these detours should not drastically affect your travel time, please be aware of possible delays when planning your next trip up north. This project is being initiated as an effort to address the reported high number of crashes at the intersection.
Larson Group is the #1 Team in Minnesota – Again!
Starting in 2018 when Larson Group partnered with Keller Williams Realty Professionals, we have been recognized as the #1 Keller Williams team in Minnesota for closed volume for the 5th straight year, and this is an honor we don’t take lightly! Representing a seasonal market, we accomplished more for our clients than 332 Keller Williams Teams statewide. Our small group of agents exhibits excellence year after year by doing things the right way! This results in our client’s goals being achieved through focusing on the relationship, not just the transaction. Having the trust of our clients and the community sets us apart from other agencies, and we look forward to continuing this tradition in 2023. It’s our pleasure to serve our clients at the highest level possible, and we want to express our gratitude to our clients, the community and our families for their unwavering support. We sincerely THANK YOU!
Crosslake Town Square Update
As some of you may have noticed the last time you were in Crosslake, construction has begun on the green space in Crosslake Town Square. The future home of the “Legacy Gardens” will feature beautiful flora in multiple garden areas while maintaining & improving the central gathering area to encourage outdoor events in the warmer months. This project is being completed by Jim Anderson in loving memory of his daughter, Christine. “Crosslaker’s” will be excited to hear that two of the most popular events, Big Fun Tuesdays and Music in the Park, are set to return to the new and improved space this summer. You can stay up-to-date on all of the events and construction progress on the Crosslake Town Square Facebook page. While the construction and planting of the gardens is heavily reliant on the weather, it is tentatively scheduled to be completed by the beginning of June. We are looking forward to being able to enjoy the “Legacy Gardens”right outside our office.