Long Lake MN Real Estate Report

Filed in Minnesota Real Estate by on January 9, 2008 0 Comments

Since Minnesota is jam-packed with lakes named “Long Lake,” I should point out that we are talking about the western Hennepin County suburb that is situated on a lake, but is completely surrounded by another town called Orono.

This small town covers just less than one square mile and is home to less than 2000 people. Long Lake was a farm-to-market community that popped up along the railroad tracks. It still serves as a hub for a mainly rural area. Because Long Lake is surrounded by Orono, Long Lake serves as a sort of downtown area for Orono. Orono is more of a rural community than Long Lake; Orono has more expensive homes and a two acre site minimum. Long Lake, on the other hand, has smaller, older homes, and more multifamily housing. Although there are a few luxury homes and townhomes here, Long Lake MN real estate is much more affordable.

The educational needs of Long Lake are served by the Orono Minnesota Independent School District #278. All of the schools in the district are on a single campus on 2000 feet of lakeshore. Orono schools are known for their rigorous core curriculum, and over 90% of its high school graduates go on to post-secondary education.

Homes in Long Lake

As elsewhere, the Long Lake MN real estate market is a buyers market. But it certainly doesn’t have the housing glut that other metro areas are experiencing. Right now there are only 14 single family homes for sale, and if you exclude the property that is up for auction, the average asking price is $386,912.00. This inventory includes a few upscale homes, including a handful on the creek or with deeded access to Long Lake. However, most of the homes for sale are split entries and ramblers built in the 60′s and 70′s.

If you would like to live in a lakeside community in this part of Hennepin County, Long Lake is an affordable alternative to more expensive home prices found in Wayzata or Orono. Please call me at 612-296-0007 so we can discuss the local market conditions here.

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