Real Estate Blog for the North & East Twin Cities

Once again I think it is time to ask the question, Is NOW a Good Time to Make a DEAL on a MN Lakeshore Home?


To see what kind of an impact the buyer’s market has had Minnesota lakes; I did some research on lake homes sold in first half of 2010. As a REALTOR® working in the north east metro for several years, I knew it was difficult to find reasonably priced Minnesota lakeshore in just a few years ago…especially properties located in areas with a quick commute to downtown. Just last year, the Twin Cities market has been experienced some of the highest affordability rates it has seen in years. I wanted to see if the change in the market and affordability had made lakeshore more affordable too. What I found is that an in-town lake home is not only affordable, there are several lakeshore properties available at ALL price ranges.

Focusing on the north east metro counties of Anoka, Chisago, Ramsey and Washington, I discovered some interesting facts. I set up a quick search for lakeshore homes SOLD and closed after January 1, 2010. I found 93 single family lakeshore homes that met these criteria. I then took a closer look homes that sold for the lowest and highest price in each county. Since most homes sat on the market for several months. If a sold home was not a foreclosure, there were some unbelievable price concessions by sellers. The 94 listings were on the market an average of 209 days. But when I looked closer at the listings, I realized the cumulative days on the market was significantly higher. Many of the homes were cancelled and re-listed so the DOM would start again at zero. In my estimation, the average time on the market for north metro lakeshore is closer to 2 YEARS.

So where are the deals on Minnesota Lakeshore? All over the north metro!

Here are some of the highlights:

Anoka County

49 Total Lake Homes Listed

Lowest Listed Price $154,900 (Original list price $172,000)

Highest Listed Price $1,595,900 (Original list price $2,400,000)


The lowest priced Anoka County lakeshore home currently listed is on Minard Lake in the northern community of East Bethel. It is a 1974 built one-story homel being offered by a traditional seller. It has 3BR/2BA and a 2 car garage and has been on the market just over 2 months.

On the other end of the spectrum, ironically also in East Bethel, a 1997 built executive two story is offered on Coon Lake. After nearly two years on the market the price has dropped considerably. This 8000 square foot, 6BR/8BA home is chock full of the upgrades including a 4 car heated garage, master suite and in floor heat.


Chisago County

91 Total Lake Homes Listed 

Lowest Listed Price $ 69,900 (Original list price $ 129,900)
Highest Listed Price $ 1,200,000 (Original list price $1,200,000)

The lowest priced Chisago County lake home is a cute little 400 square ft, 1BR/1BA cabin on  Chisago Lake. It is being sold by a traditional seller and has been on the market for almost 2 years.

On the high end, there is a 155 acre estate in North Branch on the shores of Long Lake with 3BR/1BA and several farm out buildings. This home is being offered by a traditional seller and has only been on the market for about 6 weeks.

Ramsey County

68 Total Lake Homes Listed

Lowest Listed Price $169,900 (Original list price $169,900)

Highest Listed Price $2,695,900 (Original list price $3.500,000)



The lowest priced  Ramsey County lakeshore home currently listed is on Lake Wabasso in the community of Shoreview. It is a 1924 built one & a half story home being offered by a traditional seller AS-IS basis and will need renovation. This 3BR/1BA has a 2 car garage and just listed a few days ago.

On the other end of the spectrum on the shores of Bald Eagle Island in White Bear Township is 1985 a built two story. It hasn't been offered for sale for over two years (it previously was listed at $3.5 million) so it's current market  time is just over 2 months. This 9000 square foot is located on a private 4.5 acre island in the center of Bald Eagle Lake.

Washington County

120 Total Lake Homes Listed

Lowest Listed Price $149,900 (Original list price $172,000)

Highest Listed Price $4,495,900 (Original list price $4,995,000)



There is actually a tie for the lowest priced Washington County lakeshore home currently listed. There are two similar foreclosure homes on Clear Lake in the Forest Lake area. The first is a 1932 built one-story home with 2BR/1BA and a 2 car garage that has been on the market previously as a short sale for over 2 years priced at upwards of $300K. The second home is also a one level that was built in 1925. This bank-owned home is 2BR/2BA with a 2 car garage and 50 ft of shoreline. It was also listed for nearly 3 years as a short sale prior to going back to the bank, its original list price was over $400K.

The highest priced lakeshore home in Washington County currently on the market is another executive showplace. It is almost 8000 finished square feet on Forest Lake's first lake.  Built in 2006, this home has 4BR/6BA and a 5 Car garage It has been listed on the market for nearly two years on the market and has seen a roughly 10% drop from it's original $500K list price. This home has over 100 ft of shoreline, and upgrades include a marble pillars, wooden arched vaulted ceilings and gourmet kitchen.

Bargains are STILL out there!