Lake Vermilion Real Estate

The St. Louis County Board recently passed a new ordinance related to individual on site septic systems.  These new regulations will impact the requirements for home sellers and buyers at the point of sale.

For additional information visit the St. Louis County Environmental Services FAQ web page here.

One long term and fairly popular feature of this website has been the “current lakeshore listings map” (located at the top of the right hand side bar).

Unfortunately, the online map service that (previously) offered the complimentary custom online mapping for that map has, over the last several months, become unresponsive.

The map has progressively gone out of date while waiting for a resolution to the issue.

The issue needed a fix.

So the map was moved to another online mapping service and all of data has been updated.  Please use this map to view the location of current of active waterfront listings in the Lake Vermilion area.

Click the map or click here.

Here is the final end-of-year chart that illustrates comparative Lake Vermilion real estate market performance for the years 2005 through 2013.

(The grey lines show previous years and the red line represents 2013 completed sales.)

As shown, the improving market trend remains intact with the number of completed sales steadily increasing since 2008.  Optimism is high for 2014.  Watch this website for all the market details as we progress into the new year.

Please let me know if you have any questions related to these details.  I am also happy to provide additional information on the Lake Vermilion real estate market.

(All data was sourced from the Range Multiple Listing Service.)

Here is the updated chart that illustrates comparative Lake Vermilion real estate market performance for the first eight months of 2013 versus previous years.

(The grey lines show previous years and the red line represents 2013 year to date completed sales.)

Please let me know if you have any questions related to these details.  I am also happy to provide additional information on the Lake Vermilion real estate market.

In case you were wondering… the water level in Lake Vermilion has remained at a higher than normal seasonal level so far this year.

Click here to view 10 years of historical data.

Have you ever wondered if there was an easy to use online resource that shows land ownership within St. Louis County, Minnesota?

Try the County Land Explorer.  It’s fun and educational!

I’ve had this question come up before… “Are properties selling at or near their current assessed tax value?”

Well, twenty-seven (27) year to date Lake Vermilion sales (that contained the appropriate associated data from the local Multiple Listing Service) revealed the following:

Of that group of 27 completed sales, only four (4) sold within 10% of their St. Louis County determined taxable value.  The final sales prices were a very broad range of 40% to 143% of the taxable value!

Of interest, but of questionable value, is the fact that the average percentage of the group was 98%.

For the statistically minded, here is the chart that illustrates comparative Lake Vermilion real estate market performance for the first four months of 2013 versus previous years.

(The grey lines show previous years and the red line represents 2013 year to date completed sales.)

Please let me know if you have any questions related to these details.  I am also happy to provide additional information on the Lake Vermilion real estate market.