Minnesota DNR Lakefinder It is believed that there was an American Indian presence in Vermillion starting before 7000 B.C. The total dollar amount for sales in 2017 was $23,661,600. Such Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. (As always, the grey lines show previous years and the red line represents 2019 data. Boundary Waters Bank - Ely, MN Zillow has 39 homes for sale in Tower MN matching Lake Vermilion. 2018 ramped up to stay on par with the activity level of the previous several years. General Information The average sales amount for the 2016 group was $295,077. The total dollar amount was $24,477,682 with an average sale amount of $344,756. (As always, the grey lines show previous years and the red line represents current year data.). View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. (As always, the grey lines show previous years and the red line represents the 2017 YTD sales.). Do you need additional information on the Lake Vermilion area real estate market? And deep water docking is easy to find, which makes for great water-skiing and fishing right from your dock. As a teaser for the coming 2020 market… January 2020 produced 6 completed sales. Selected real estate, notes, stories, musings, and anecdotes. (Of course, one point of data really isn’t a significant indication of anything. There is a minor trend observed since 2015 with successively fewer sales each year during that four year time frame… 89/2015, 85/2016, 75/2017, 72/2018. 2019 can now formally be referred to as “recent history”. However, it appears mid summer activity has increased to the point where lost ground may be regained in the next few months. Market activity for the first half of the year suggested strong performance with a shot at near record annual sales. I added three graphs to show additional historical market comparisons. Many people who once owned small cabins here have turned those into year-round homes, and service businesses in the area have grown to accommodate the needs of those new residents. Along with the wide variety of lakeshore real estate available on Lake Vermilion, there are also many other types of recreational properties in the area, from large hunting acreage to riverfront and stream settings. I am also happy to provide additional information on the Lake Vermilion real estate market. View virtually every Vermilion Lake property on the market. The 2019 Lake Vermilion market logged a total of 71 total sales. Completed Lake Vermilion real estate market sales through June in the 2017 calendar year have been pretty respectable. I would predict that final sales in this calendar year will be very good but will not eclipse the results from last year. The second half of the year will, as always, reveal the full story. » Send LVRE to your email inbox, Road access: 20 homes / 23 lots Many year to date conversations with buyers and sellers in the 2020 Lake Vermilion area real estate market have, at some point, come around to this common inquiry: “Is the current Lake Vermilion real estate market being affected by:  a) the Covid 19 pandemic  b) social unrest  c)  politics  d)  any combination of these 3 current events? The largest factor so far has been the sluggish start in the first three months of the year that occurred largely before the noted events had become daily headlines. The typical average list prices of Vermilion Lake - Greenwood Twp homes for sale is $546,000. The total dollar amount for sales in 2018 was $23,227,050. A daily journal concerning Lake Vermilion and surrounding areas. Viita Excavating. Bear Island Land. Lake Country Power Please drop me a note! (As always, the grey lines show previous years and the red line represents the current year sales.) And deep water docking is easy to find, which makes for great water-skiing and fishing right from your dock. The buyer and seller mix and level of motivation on both sides should remain mostly balanced with no significant change expected in seller inventory or buyer interest. Individuals involved in this market professionally and for profit probably offer varied responses to these questions. (All data was sourced from the Range Multiple Listing Service. North Star Credit Union - Cook, MN 91006 Duffy (Hawk) Island & Mainland Lot W/Garage, Dock. Lake Vermilion is one of Minnesota's most beautiful lakes, with over 1,200 miles of shoreline. The current number of pending sales would suggest overall sales for 2018 will be similar to 2017. Located in Minnesota, Vermilion Lake - Greenwood Twp real estate is the largest market in the state for lake homes and lake lots. Whether you enjoy endless boating, top-notch golf, resort hopping, incredible fishing or just relaxing in the midst of this magnificent scenery, Lake Vermilion will give you all you can take. Once dotted with quaint cabins, old boathouses and family resorts from Cook to Tower, the Lake Vermilion real estate landscape has been changing to larger lake homes for some time now. Please contact us or any of our local real estate specialists, who can help you get started in the process of finding your perfect lake place here. Water access: 6 homes / 6 lots, Road access: 11 homes / 6 lots However, it appears mid summer activity has increased to the point where lost ground may be regained in the next few months.”. There is a minor trend observed since 2015 with successively fewer sales each year during that four year time frame… 89/2015, 85/2016, 75/2017, 72/2018. Tower, MN It's free! The year-to-date chart noted below shows a trend currently within historical numbers. match your specific interests. Janisch Realty Having noted that and as is obvious in this edition of the graph… year to date 2018 is lagging behind other recent years. Crane Lake, MN That broke a record for the month that has been in place for 15 years. The total dollar amount for Lake Vermilion sales in calendar year 2016 was $25,081,550. Land Department, LakeVermilion.com Please let me know if you have any questions related to these details. Get a no-obligation estimate of your real estate market value. Minnesota DNR At this point in time it’s fair to label this update a “Summer Rerun”. My response, to date, has been “It’s too early to tell, at least from a closed transaction measurement.”. The average sales amount for that group was $322,597. Coldwell Banker Lake Vermilion Area real estate is considered a limited supply market for lake homes and lake lots in Minnesota. Orr, MN (As always, the grey lines show previous years and the red line represents 2018 data.). Water access: 16 homes / 23 lots, Road access: 12 homes / 16 lots The average sales amount for that group was $322,597. Along with this first class facility, lakeshore owners have plenty of pit-stops on the water, with resorts still dotting the shoreline that can serve up a quick burger and refreshing drink on a relaxing lakeside deck. Fortune Bay Casino has also been a huge draw to the area, and caters to those who want to fish, swim, ski and golf by day, and have ongoing entertainment throughout the evening. As is nearly predicable, the early months of the second half of the selling season produce a larger number of closed sales. Lake Vermilion Resort Association We’re half way through the 2018 calendar year and at the selling season mid-point for the Lake Vermilion area real estate market. The lake has also benefited from the popularity of Ely and the Boundary Waters Canoe Area just up the road, making lakefront properties in this part of Minnesota very attractive to people from across the United States. Having noted that and as is obvious in this edition of the graph… year to date 2018 is lagging behind other recent years. Lake Vermillion, in northeast Minnesota, is located in Saint Louis County and is approximately 210 miles from Minneapolis, and 250 miles from Eau Claire. Lake Vermilion, Minnesota. Get on it. Browse Vermilion Lake real estate listings at LakePlace.com! This mostly recreational market typically logs more completed sales in the second half of the selling season. ), (As with all previous graphs, the grey lines show prior years and the red line represents 2019 data. )(All data was sourced from the Range Multiple Listing Service.). That’s an increase of $7,313 from the 2015 average of $287,764. Lake Vermilion is one of those lakes where it really pays to have a real estate expert to give you the best information possible, because of its size and varied property values. (As always, the grey lines show previous years and the red line represents current year data. With 7 months of 2016 behind us and half of the local selling season in the books, here’s evidence of a very smooth and gradual increase in activity and completed sales within the Lake Vermilion real estate market. 2018-2019 brought Lake Vermilion a bonafide winter with subzero temperatures and ample snow for outdoor fun. The brisk mid year sales gave way to a significant end of year fade into the stretch which resulted in a final  2017 completed sale count of 75 transactions. The reason or reasons for the small number of early closed sales is anyone’s guess. Water access: 1 home / 1 lot, Re Max Along with the wide variety of lakeshore real estate available on Lake Vermilion, there are also many other types of recreational properties in the area, from large hunting acreage to riverfront and stream settings. » Request and receive timely email notices on listings that Along with this first-class facility, lakeshore owners have plenty of pit-stops on the water, with resorts still dotting the shoreline that can serve up a quick burger and refreshing drink on a relaxing lakeside deck.

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