Lakeshore Updated Summer 2023 - Larson Group Real Estate
** Photo By: JL Drone Imagery **
OFFICIAL LAUNCH OF THE CHANNEL CHAT PODCAST
We are EXCITED to announce the launch of Channel Chat Podcast! Founded on the idea that channels connect the lakes, and we connect the people. At Channel Chat Podcast, the Lakes Area’s one stop shop for real estate updates, trends, and tips as well as keeping up on local happenings within the lakes area. Located in the heart of the Whitefish Chain in Crosslake, MN.
Larson Group is excited to be the exclusive sponsor for the Channel Chat Podcast, as well as the host for the recording studio. Kendra Johnson, our Marketing Director along with her involvement with her platform “Crosslake Culture”, will bring semi-monthly episodes blending together her passion for the events and love of the lakes. On Channel Chat Podcast she will bring on area experts to talk about all things "lake country” as well as events, community updates, and real estate insights. All things that have shaped and will continue to shape this area for decades! Tune in on Spotify & Apple Podcasts - as well as online on Facebook and Instagram @channelchatpodcast
SUMMER OFF-LAKE ACTIVITIES
While the area lakes may be the biggest attraction to our area, there is a lot to explore on shore, too. If you’re looking for something to do off-lake this summer, here are a few recommendations. If golf is your thing, we have over 200 holes of golf to play in the Brainerd Lakes Area! Head south to Nisswa to play all of the courses that Madden’s, Cragun’s, and Grand View Lodge have to offer. Stop at Breezy Point Resort to play the Traditional, Whitebirch and Deacon’s Lodge courses. Or, head north and check out Whitefish Golf Club, Crosswoods Golf, or Golden Eagle. If you want to try your hand at Pickleball, head to the Crosslake Community Center to play on the courts during open court time or sign up for their tournament, which is scheduled for the end of July. If the weather isn’t cooperating and keeping you from enjoying the water, catch a movie at Sunset Cinema in Pequot Lakes. You can also check out the Snarky Loon Brewery in Jenkins or 14 Lakes Brewery in Crosslake.
CROSSLAKE TOWN SQAURE HAPPENINGS
There are many good things happening in Crosslake Town Square this summer, starting off with the long-awaited reveal of the Legacy Gardens! Celebrating 20 years in Town Square, Jim Anderson, owner of Crosswoods Development, was honored to reveal this expansive, year-round English garden in honor of his wife, Linnea, and daughter, Christine Sesin. Over 2,500 perennials have been planted, along with many annuals. The gazebo has been painted, and there is also a water feature for the kids! Needless to say, we are looking forward to a stunning summer at Town Square’s Legacy Gardens. Big Fun Tuesdays are back! Starting Tuesday, June 20th and running every Tuesday through August 22nd (except for the 4th of July) from 1:00 pm – 3:00 pm, there will be fun activities for the kids all summer long! Music in the Square, sponsored by the Crosslake-Ideal Lions, will have its summer concert series at the newly refurbished gazebo every Saturday from 6:00 pm – 8:00 pm, beginning June 24th and running through September 2nd. Be sure to bring your lawn chairs! The Street Fair in Crosslake Town Square will be held on the following Saturday’s from 11:00 am – 4:00 pm: July 22nd, August 26th, and September 30th. Amazing vendors will be in Town Square will all sorts of goodies & treats, so come join us! Finally, we are excited to welcome 2 new businesses to Town Square, “Shoppe 218 Vendor Marketplace” and “WineDown Wine Bar.” Shoppe 218 is the home of Patriot Lakes Nutrition, Crosslake Vacations & Rentals, and also a variety of local small businesses, adding more retail shopping fun! When you're done shopping or booking your pontoon rental, stroll a few doors down to “WineDown Wine Bar” where they have been working diligently to open their shop. We also heard that they have a secret tasting room for bourbon and whiskey, as well as charcuterie boards & sweet treats. Let them know that Larson Group sent you!
MARKET UPDATE
Similar to 2022, we had a late spring with ice out on most lakes not happening until early May, and this had an impact on the timing of when properties could be listed for sale. Sellers also had a more difficult time in getting their yards cleaned up from the winter storm damage, creating limited inventories compared to levels that we’ve with in the past few spring markets. We believe this will lead to more properties being listed for sale as we go through the summer months and into fall. All signs are indicating that we are still in a seller’s market with a large and motivated buyer pool.
Since March 31st, the Whitefish Chain has had 32 pending or closed sales ranging from entry-level seasonal cabins to estate properties listed at over $2 Million. Since the beginning of June, there have been 28 active properties for sale in all price ranges throughout the Whitefish Chain. With our market knowledge and share of sales, this supports the fact that there are more negotiations occurring with this year’s “list price to sale price” than in the past three summers. This is more prevalent in properties that are listed at over $1.5 Million.
As the market values continue to rise on the Whitefish Chain, Gull Chain, and other historically popular lakes, segments of buyers are beginning to focus their efforts on surrounding area lakes and expanding their search radius. The area has many wonderful smaller lakes that offer excellent options for the perfect lake home. Other lakes in the northern Crow Wing County area have similar statistics, however, there is less room for negotiations in the upper-price levels on these lakes. There were 28 pending or closed sales as of March 1st, 2023, and as of early June there were only 19 active properties for sale. This data supports that we have not seen depreciation from the past three years. However, we have yet to experience the same level of appreciation as the past year-to-year increases since 2019. There may still be appreciation this year, and that will play out as more properties are listed for sale and there is a larger group of sales data to analyze.
We have been helping more of our clients downsize from their current lake property to either a smaller lake property or a residential home that requires less maintenance. We’ve been working with these specific clients for several years to determine the best timing for them, and we would be happy to start this process with you if you are looking to accomplish a similar goal of staying in the lakes area by downsizing so you are able to stay close to your family.
