LakePlace.com announces Wisconsin lake property price index. Some areas see 400% property value increases over the past five years.
Richfield, MN (PRWEB) April 11, 2005 -- LakePlace.com Announces Wisconsin Lake Property Price Index. LakePlace.com, the internet's leading marketplace for Minnesota & Wisconsin lake properties, announces the average asking price for Wisconsin lakefront homes and undeveloped lake lots. "Values are going up," says Cameron Henkel & Dave Gooden, co-founders of LakePlace.com. "The Minnesota & Wisconsin lakeshore market is one of the hottest real estate markets in the country, and with 80 million baby boomers preparing to retire over the next decade, the ten year outlook continues to be very strong."
According to the Wisconsin Dept. of Natural Resources website (http://dnr.wi.gov), this trend has been building since World War II, but the increases have been particularly dramatic over the past three decades. So many people want to live near the water that the demand is driving lake property prices sky-high. "In some northern counties, lakeshore property values have increased as much as 400% in the past five years." LakePlace.com average asking prices as of April 07, 2005:
*Prices reflect greater Wisconsin lakefront properties only. Water-view, water-access, river properties, and metro lakes are not included in the findings. Findings based on 208 LakePlace.com listings.
Average WI Lake Home - $413,815
Median - $329,900
Low - $79,900
High - $3,100,000
Average WI Lake Lot - $173,138
Median - $150,000
Low - $21,900
High - $549,000
The data also shows that the traditional "cabin" is becoming rare in Wisconsin as property owners continue to build homes or upgrade their 3 season cabins to larger, year-round lake homes.
Exclusively serving the Minnesota & Wisconsin lake property market, LakePlace.com is the leading source for MLS and FSBO lake homes, cabins, & lake lots for sale. LakePlace.com features more than 800 lake properties for sale, 200 private cabin rentals, and 2,200 lakeside resorts throughout all regions of Minnesota & Wisconsin.
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