12 lake homes with frontage at Lake Carlos have sold in 2014 (11 closed, 1 in escrow) in Alexandria’s Multiple Listing Service, Greater Alexandria Area Association of REALTORS. The majority of the new home owners will be enjoying sunsets each evening. The west side enjoyed a higher average sale price of $585,000 compared to the average of the east side at $489,410. Without a $1,200,000 sale on the east side, the average would have been $347,293. Surprisingly, the 2 of the 3 properties that have very level lakeshore sold for $263,840 and $350,000. The 3rd sold for $895,000. The property that sold for $263,840 you would have heard about if during the previous 12 months you had asked me “what is the best buy on The Chain of Lakes”? Both of these sales have an asterisk though. The $263,840 sale was priced for the land only in my opinion (and priced below the land value). Most people felt the structure was to be used as a cottage or a start over (tear down). The property that sold for $350,000 has a Lake Carlos location that is dense with reeds in front of the shoreline.
The high closed real estate sale for Lake Carlos and all of Alexandria, MN in 2014 is a $1,200,000 sale on the east side of the lake. It doesn’t have level shoreline but is a unique property for The Chain in that it has 300 feet of frontage and 1.89 acres. Rare qualities. Besides having a spectacular view, it is private. Not just because of the lot size and the 300 feet of frontage, but because it is on a low traffic road.
It is my opinion that 2015 is going to be a very good year for lake sales. There are a few lake homes with list prices over 1 million dollars that I think will sell either before the end of this year or in the first half of 2015. And, I know of one pending 1 million dollar sale for a Lake Carlos home that isn’t listed in the Multiple Listing Service. If you are close to moving forward with a Purchase Agreement for a lake home, my advice is to make the move soon.