January 31, 2004
This chart is probably not surprising. It shows the average Lake Vermilion home/cabin sales price from 1994 through 2002. The range of sale prices over that period was from $19,000 to $1,250,000. The trend does continue through 2003 with the average up significantly.
The common question is, of course, “Will this trend continue?”
Most people would agree the short answer is, “Yes”. A qualified “Yes” because there can be no guarantee. But a market with more active buyers than sellers will continue to put upward pressure on property values.
Buying now should lock you in for future gains in value! Selling now should allow you to realize accumulated gain in value!
Please contact me if you would like to take advantage of the Lake Vermilion real estate trend.