by Alan Olson
broker at Century 21 Vista
The sale of lake lots increased 25% in 2016, according to our Multiple Listing Services statistics in Otter Tail County. That is the most sales in a number of years and is an indicator that new construction starts will be increasing. The lots sold for 8% less than estimated market value but the lower prices were mostly on the sale of lots located on third tier lakes. During the recent recession there was a 10 year supply of lots for sale while now there is a 2-1/2 year supply. As an example, on West Battle Lake, a top tier lake, there are only 11 lots for sale of which Century 21 Vista has 9 of them listed and the inventory on other top lakes is similarly low, Keep your eyes open for top tier lake lots for sale and low priced lots on third tier lakes or contact us so we can keep you up to date!