While the Twin Cities metro area’s real estate market is hot, hot, hot (and only getting hotter this summer), the same can’t be said for some of Minnesota’s waterfront cities. Slower to recover than much of the state, lake homes are remaining on the market longer and selling for less than the original list price (whereas it’s a general trend that homes are going for more than asking in the Twin Cities). With that in mind, if you’re on the hunt for a vacation home on one of Minnesota’s more than 10,000 lakes, you can’t go wrong looking in one of the six cities on this list. These cities currently have more inventory of single-family seasonal homes (everything from mobile homes to luxurious log cabins), which are selling for around 90% of the original asking price. Check them out, and let us know if you’re interested in more information.
1. Aitkin (Aitkin Co.)
# of active homes*: 17 | Price Range: $75,000 – $414,000 | Median Sale Price: $209,000 |Median DOM: 217
Aitkin is a historic Mississippi Riverboat Town, about two hours from Minneapolis, known for hunting, fishing, and their annual Riverboat Scramble. While the largest local lake is Mille Lacs Lake, there are plenty of smaller bodies of water (365, in fact) nearby that would make for the perfect summer getaway retreat.
2. McGregor (Aitkin Co.)
# of active homes: 12 | Price Range: $84,000 – $229,900 | Median Sale Price: $209,000 |Median DOM: 217
A city with less than 400 full-time residents, McGregor is great for vacations and visitors – it’s an outdoor enthusiast’s paradise! Most of the current seasonal inventory in McGregor can be found by the Big Sandy Lake Reservoir or on Lake Minnewawa. This city is also home to the Minnesota National Golf Course.
3. Crosslake (Crow Wing Co.)
# of active homes: 12 | Price Range: $47,000 – $535,000 | Median Sale Price: $385,000 |Median DOM: 253
Crosslake has the highest median sale price for vacation homes on this list for a reason. Spacious log cabins and other seasonal homes with majestic waterfront views dot the city’s more than 121 miles of shoreline. Permanent and seasonal residents enjoy the wonderful small town charm while maintaining convenient access to the Lakes Area amenities.
4. Longville (Cass Co.)
# of active homes: 12 | Price Range: $79,900 – $377,900 | Median Sale Price: $234,250 |Median DOM: 242
Home to no more than 200 full-time residents at the moment, you’ll certainly get to know your neighbors in Longville. From charming cottages to dockside dream homes, there’s a summer house to fit any of your needs. While you’re in town for the summer, you might also want to check out one of the city’s iconic Turtle Races.
5. Hackensack (Cass Co.)
# of active homes: 11 | Price Range: $99,900 – $359,000 | Median Sale Price: $232,000 |Median DOM: 183
Less than an hour north of Brainerd, Hackensack is a small town known for one big resident (the statue of Paul Bunyan’s girlfriend, Lucette, to be exact). With inventory ranging from mobile homes to cabins on notable lakes including Big Deep Lake, Ten Mile Lake, and Kid Lake, it’s not too hard to find your ideal family vacation spot.
6. Park Rapids (Hubbard Co.)
# of active homes: 11 | Price Range: $87,500 – $399,900 | Median Sale Price: $287,250 |Median DOM: 247
One of the larger city’s on this list, Park Rapids has a population of almost 4,000. Many of the vacation homes currently for sale can be found along the shores of Potato Lake. Probably most famous for being home to the Mississippi River Headwaters, residents choose to call this city home for many other reasons too, such as quality fishing, water sports, and a scenic downtown area. Whether you’re looking for a cozy cabin in the woods or new construction, you can probably find it in Park Rapids.
*All data sourced from NorthstarMLS on 6/14/16.
Photo Source: “Cabin in the Trees, Lake Tahoe, CA 8-10” by Don Graham © 2010 (CC BY-SA 2.0)
