The price of gold has been hanging around $1,300 an ounce this past week, about the same as it was four years ago. In contrast, homes on Rainy Lake seem to be increasing in value a fair amount, as the appetite for lake properties has come back in full force from the recession.
In market areas closer to the Twin Cities, and in highly populated vacation locales such as Detroit Lakes and Brainerd Lakes, prices have surged to levels similar or even above peak values before the market tanked. But in waterfront markets a bit further from the weekenders, such as Itasca County and Rainy Lake, there are still incredible values -- and some of the most pristine waters available in Minnesota.
From the beginning of 2014 to the end of 2015, there were 56 sales on Rainy Lake, with twelve of them over $300,000. In that same two year period of 2016-2017, there were 74 sales on the lake, with 23 of them over the $300,000 mark, according to Parcelinfo.com.
If you are looking for a good investment while stock prices seem to be a bit high and gold looks like it might be a bargain, Rainy Lake real estate might be an even better place to put your money. And it will probably be a lot more relaxing to spend your days exploring the quarter million acres of wilderness waters, top-notch fishing and extreme solitude...than it will be to gaze at your gold graph each morning.