Monday, October 15, 2007

Lino Lakes, MN Real Estate Market Statistics 3rd Quarter 2007

Lino Lakes continues to grow and real estate is affordable. Conveniently located near the junction of the 35E and 35W split north of the Twin Cities, Lino Lakes is a 33 square miles treasure. With 13 lakes and acres of beautiful protected wetland, the community is served by three school districts; Centennial District #12, Forest Lake District #831, and White Bear Lake District #624. The gem attraction is the pristine 2,700-acre Rice Creek Chain of Lakes Regional Park Reserve is situated within the heart of the city. Lino Lakes is committed to maintain this treasure and its natural settings and wildlife habitats for years to come.

Real estate in Lino Lakes, MN in Anoka County is affordable and selling—though admittedly at a slower pace than most sellers would like. The third quarter numbers show area homes are staying on the market an average of 159 days. Looking at current inventory levels and the rate of sales for homes priced under $300,000, there is about 5-6 months of inventory as it stands today.

While homes under $300,000 in Lino Lakes have a manageable inventory level, similar to other areas of the Twin Cities, high end homes are selling at a slower pace. Based on the 3rd quarter statistics it would take about a year to sell the current inventory of homes. This is much better than communities to the north, like Ham Lake and Forest Lake, which have about 2-3 years of high-end home inventory.

3rd Quarter Lino Lakes residential real estate statistics for single family homes:

Under $300,000~ 49 Active Listings, 6 Pending Listings, 23 Sold Listings

$300,000-$400,000 ~ 32 Active Listings, 1 Pending Listings, 6 Sold Listings

$400,000-$500,000 ~ 24 Active Listings, 0 Pending Listings, 2 Sold Listings

$500,000 and Up~ 18 Active Listings, 2 Pending Listings, 4 Sold Listings

Lakeshore available in Lino Lakes:
2 Active Listings
Centerville lakeshore price range: $334,900-$439,900

1 Home on Rice Lake
1 Home on Centerville Lake

Acreage properties available in Lino Lakes:

10 properties listed on 1-2 Acres priced between $224,900-$399-900.
5 properties listed on 2-3 Acres priced between $220,970-$399,900
1 property listed on 3-5 Acres priced at $289,900
1 property listed on 5-10 Acres priced at $420,000
1 property listed on 10-15 Acres priced at $525,000

For additional information on any current Lino Lakes real estate listing or for additional information on buying a home in Lino Lakes contact Teri Eckholm directly at 651-336-7073.

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 7/1/07 through 9/30/07.