According to the Multiple Listing Service, in July there were 18 new waterfront listings in Chisago County, 13 sales that are pending or closed, and 6 more under contract with a contingency. The median marketing time was 20 days and many waterfront homes sold in multiple offers. There is very little inventory for buyers to choose from and sales are down from last year due to the lack of new listings/inventory.
The highest number of new waterfront listings for 2017 was in March with 20 new listings, but there were only 8 waterfront sales. April had 16 new waterfront listings and 21 sales. June had 12 new waterfront listings and 11 sales.
The best 3 months so far, this year selling water front homes were April, June, & July. August looks to be another good month. The median price for the Chisago County Waterfront homes was $312,450 with 47 days on the market.
The highest priced waterfront property that has closed this year was on Chisago Lake for $535,000, but there is one pending sale on Green Lake for more. The lowest priced waterfront house, was the only sale on South Lindstrom Lake this year for $138,500. There were 2 condo sales on North Lindstrom Lake for $51,000 and $72,750.
Green Lake had the highest median sale price of the Chisago County lakes/river at $415,000 with 11 sales. North Lindstrom has the lowest median sale price 3 sales and a median price of $197,750 excluding the 2 condo sales mentioned above.
There were 10 homes sold along the Sunrise River with a median price of $238,500. Chisago Lake had 4 waterfront sales with a median price of $350,000, North Center Lake; 6 sales with a median price of $307,500. South Center; 6 sales with median price of $310,000. For this article, I focused on waterfront with at least 3 sales, but Kroon Lake gets an honorable mention with 2 sales and a median price of $441,750. The marketing time for those 2 sales averaged 429 days.
If you are thinking about selling your waterfront home, contact an experienced waterfront agent to get a personal home evaluation today.
Ask the Real Estate Agent is a weekly column by Cheryl Kempenich of Coldwell Banker Burnet, who lives and offices in the Chisago Lakes Area. Submit your questions to firstname.lastname@example.org. All information is deemed reliable but not guaranteed. For legal assistance consult an attorney.