Home Prices and the 2016 Market

We’re excited about 2017! In contrast to the past 3 years we are experiencing a very active spring with increased buyer activity and confidence. We anticipate this activity to continue through the summer and into the fall. Unfortunately we don’t know if this activity will extend to all property types and price ranges of the market.

Our current MLS statistics show the inventory level of area homes currently for sale is as low as it’s been in 10 years. Stop, wait, re-read that last sentence. This is a very important change in the lakes area market! To explain this further the statistics are true for the primary home residential market as well as for lower price ranges of lakeshore properties. The upper price ranges, in all property types, continue to carry a higher inventory. The average sale price (although stronger in the residential off-lake and lower end properties) is well below the average 2015 sale price. This figure directly reflects the lack of upper end sales and the significant discounts negotiated from offered list price to accepted sale price. We won’t know if there will be a further inventory adjustment until the seasonal property buyers and sellers return to the area sometime late spring, early summer. One strong trend we continue to see is that in the upper price ranges more buyers are choosing to build new than buy an existing home even if it means delaying their enjoyment of the area 1 to 2 years.

The tables shown reflect 2016 and past years’ data to give you an important view of the lakes area market:

While there are many companies representing the Whitefish Chain and surrounding lakes real estate market Larson Group is proud to continue to be the area leader in this area. In 2016 we were active in representing buyers and sellers (and sometimes both) in 45% of all sales made on the Whitefish Chain. That’s pretty good for a total of 5 real estate agents in our office! Additionally we were involved in:

  • 40% of sales $500K and up
  • 100% of sales $800K and up
  • 100% of sales $1M and up

We are proud of the above numbers and appreciate your continued confidence in us. We strive to keep close tabs on the area and national real estate markets to give our clients the best representation possible. Should you have any questions on the data above please give us a call, drop us an email or stop in to discuss. All of us at Larson Group Real Estate/Keller Williams Realty Professionals are happy to assist you, your family or friends with a real estate need. Let’s Talk!

Your Realtors,
Bruce Larson & Rob Birkeland

Just a Quick Look at the Area Market

And a Few of the Fine Properties Larson Group Had the Opportunity to Represent

Is Now The Best Time?

Traditionally, when inventory levels reduce and buyer confidence increases sellers entering the market tend to have a dramatically better experience. Why? Lower inventory mean less competition. With less to pick from buyers don’t always have the option to wait if they like a property. Less time in the market still depends on being in the best shape and at the right price when you first enter. Give us a call. We are excited to guide you through the process.

Don’t forget to take a picture of yourself, your family and friends doing what you enjoy most while in the Lakes Area and post it to our Facebook page. Whether it’s fishing, listening to the Crosslake music in Town Square, camping or just relaxing on the dock. We’d love to see what you and your family/friends find so special about living and visiting here. You may even see one of your friends there already!

Our Facebook page is also a great place to find out what upcoming events are just around the corner as well as what properties are coming into the market daily. We post events both young and old (and in-between) would enjoy; events not just in Crosslake but around the whole Lakes Area. Every now and then we even throw in some area folklore and Minnesota Trivia. Check us out and be sure to “like” us when you do!

Larson Group Continues Its
Legacy of Growth

We’re proud to announce that Larson Group Real Estate, LLC is taking another step on our journey to continue being the top Real Estate office in Northern Crow Wing County by becoming a franchise partner of Keller Williams Realty, Inc. of Austin, Texas, the nation’s largest residential real estate agency.

Over the past few years, we knew we had to find a great partner if we wanted to continue to grow. After talking to several companies, Keller Williams was by far the best firm to go with. We’ve always been a forward-thinking agency and we pride ourselves on embracing the latest trends to provide buyers and sellers with the best tools for a successful transaction. We see joining with Keller Williams as just the latest plan to grow and stay ahead of the trends in the local real estate market.

Today, remaining independent is hard to maintain with the high cost of new technology and the need for more specialized training. Working with such a progressive firm like Keller Williams gives us a great advantage to help our home buyers and sellers be even more successful.

Keller Williams is the largest real estate franchise by agent count in the world. In addition, Keller Williams is now the fastest growing real estate franchise in Minneapolis and this can provide more prospective buyers and sellers to Crosslake and the surrounding community for the Larson Group.

“We’re excited about the increased exposure throughout the Twin Cities,” said Rob Birkeland, Partner/Owner.

Expansion is nothing new to the Larson Group. “I’ve been in the real estate business since 1978, and was the founding partner of Shores & More Realty that began in 1984. From there our company has evolved into Larson Group Real Estate,” commented Bruce Larson, Partner/Owner. A big part of our growth comes from the company’s commitment to give back to the Crosslake community. “Our team lives, volunteers and participates in many local activities and causes,” Larson said. “From volunteer firemen, hockey coaches and leading committees that promote Crosslake, they’re just as dedicated to seeing Crosslake grow and prosper by being active in town,” he added.

With so many real estate companies and agents in the Crosslake area, it may stand to reason that the new partnership signals a path for the Larson Group to contract. “I know our competitors might think we’re going away,” said Birkeland. “That’s simply not the case. If Bruce and I were serious about closing we simply would have sold the business. The fact is we’re expanding for future growth.”

We are excited to share this opportunity with you and to give you a better real estate experience and exposure whether you’re buying or selling.