BIKING AND THE LAKEFRONT MARKET

Biking in March is something I have done in the past but it has been in a different time zone or on a fat tire bike in proper Minnesota winter attire. This afternoon I road a Trek city bike on a round trip from downtown Alexandria to Garfield. In a t-shirt and jeans but I could have been in shorts. Below are a few photos of lakes on my path to show the state of the ice. Pretty much kapoot.

Lake home owners in the Alexandria area considering selling have to be thinking about the spring buying season starting sooner and if now is the time to list their property for sale. My opinion is to wait. The end of the school year and all the activities and exams that go along with it, spring travel, and snowbirds still in their winter perches make waiting the smart move. Plus, buyers will have in their minds that more options will be on the market in April and May. They may be right, but who knows. But, if a lake home goes on the market right now and it doesn’t tick enough boxes for buyers to bring one or more offers, they may wait and it may languish for a while. None of us have crystal balls unfortunately but it is always good to look back at past markets. Over two decades of my lakefront real estate experience tells me to wait. That being said, if a lake property does go on the market and the price is right and the property will work for you, don’t wait a day let alone an hour. So far, it is looking like 2024 will be a repeat of 2023 with a tight inventory of quality lake properties.