Summer in Minnesota is often synonymous with heading up north to the cabin. According to our recent Minnesota Recreational Property Report, the interest in second-homes as vacation properties continues to be a popular summer opportunity. As our report shows, Minnesota is experiencing healthy activity in prime cabin markets such as Park Rapids, Alexandria Lakes and Headwaters regions. Brokers from across the state indicate that consumer demand is reaching new heights as home buyers, now more than ever, are willing to pay higher prices for move-in ready, waterfront locations.
The most in-demand properties continue to be lakeshore homes, this is due in no small part to the more than 400 lakes in the area; however, local real estate experts have seen a change in the age of homebuyers as a recent surge of young buyers have taken interest in the area. While lakefront properties are the big seller, local agents have noticed an uptick in landlocked cabin properties as well.
Lakeshore homes are making a big splash as real estate agents in the area have been busy with an increase in the number of waterfront homes being sold this year. Some brokerages have seen an increase upwards of 10 percent when compared to last year. This increase can be attributed to both economic recovery and a change in buyers’ mindsets. Would-be homeowners are looking for properties that can offer year-round recreational opportunities.
The Headwaters region has seen a recent influx of farmers from western Minnesota. These buyers are typically close to retirement and hoping to purchase a property that can be used as a recreational second home until they can move there permanently upon retirement. Typical starting prices in the area fall in the $200,000 to $250,000 range, however consumers are willing to spend a bit more money on a home that move-in ready and doesn’t require any additional work.
The Minnesota Recreational Property Report and press release was shared with media publications throughout the state, providing relevant and timely housing information and showcasing RE/MAX as having the local real estate experts – helping build and spread brand awareness.
As these reports are consumer focused they can be re-purposed in your real estate business. Here are a few suggestions on how to put them to use:
- Listing Presentations – print it off or download a digital copy for your listing presentations to showcase to potential clients how your local market is performing, and reiterate why the time to sell is now.
- Handouts – print off a handful of copies and bring them with you to open houses and leave a few in your office. This provides consumer-focused market insights relevant to your selling area that are also RE/MAX branded.
- Emails – include a link to the report in your next newsletter or direct email campaign. This is a great lead generation and retention tool; the information you’re providing will help you stay top of mind to your clients and increase your chances for referrals.
- Social Media – share across your social media platforms to position yourself as a real estate expert in the social space. It helps build brand awareness, generates new lead opportunities, and increases your rate of referrals.
Consumers generally enjoy talking about the value of homes. Sharing these reports with your network will help start the conversation and will build you up as their local real estate expert.