Minnesota’s Vacation-Home Market is Warming Up
MINNEAPOLIS (AP) – Sales of vacation homes appear to be on the rise across much of Minnesota, driven mostly by buyers who have cash or can tap into an investment account.
The largest increase was in the Arrowhead region, which includes the North Shore of Lake Superior and hundreds of secluded inland lakes. Sales there rose 8 percent during the first three months of the year.
Lavonne Christensen works for a real estate company in Duluth. She says she’s had $5 million in sales in the first quarter, compared to $2.6 million last year.
Mark Wessels is a real estate agent in Crosslake. He says a lot of potential buyers were sitting on the sidelines but now they’re starting to jump into the market.