Tuesday, January 8, 2008

Forest Lake, MN Real Estate Market Statistics 4th Quarter 2007

Real estate in Forest Lake, MN in north Washington County and east Anoka County is still selling. The first big December snowfall and holidays didn’t deter savvy buyers from getting out into the market and writing offers. The inventory levels are down from the third quarter statistics, but sales during the last three months of the year were only slightly lower than the previous quarter. The fourth quarter numbers show area homes are staying on the market an average of 166 days, just slightly lower than the 171 DOM in the third quarter. Looking at current inventory levels for homes priced under $300,000, there is about 9-10 months of inventory at the 4th quarter rate of sales.

High end home sales continue to remain stagnant. With only one home sold in the last 3 months, sellers in the over $400,000 price category are looking at a market time in the years rather than months if the rate of sale continues at this snails pace. Of course spring always brings new buyers out…They will have plenty of wonderful homes to select and negotiate on. When the ice thaws, it will be time to consider a lakeshore home!

Lakeshore opportunities are abundant in the Forest Lake area! The combination of an amazing inventory of 32 lakeshore homes, long market times, and low interest rates, creates the perfect situation as sellers should be ready to negotiate an acceptable deal for the sale of your piece of shoreline!

4th Quarter Forest Lake residential real estate statistics for single family homes:

Under $300,000~ 69 Active Listings, 3 Pending Listings, 22 Sold Listings, 133 DOM (Lakeshore Subgroup ~ 3 Active, 0 Pending, 0 Sold)

$300,000-$400,000 ~ 37 Active Listings, 3 Pending Listings, 6 Sold Listings, 292 DOM (Lakeshore Subgroup ~ 10Active, 1 Pending, 0 Sold)

$400,000-$500,000 ~ 17 Active Listings, 0 Pending Listings, 1 Sold Listing, 265 DOM (Lakeshore Subgroup ~ 7 Active, 0 Pending, 1 Sold)

$500,000 and Up~ 18 Active Listings, 1 Pending Listings, 1 Sold Listings 429 DOM (Lakeshore Subgroup ~ 12 Active, 1 Pending, 0 Sold)

Lakeshore available in the City of Forest Lake
32 Active Listings, 2 Pending Listings, 1 Sold Listings

Forest Lake lakeshore price range: $234,900-$2,900,000

22 Homes on Forest Lake
8 Homes on Clear Lake
1 Home on Sylvan Lake
1 Home on Neds Lake

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 10/1/07 through 12/31/07.

Featured Listing in Forest Lake Minnesota: 20685 Georgia Ave N

Articles on Forest Lake, Lakeshore and Minnesota that might be of interest:


If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2008 Teri Eckholm http://www.terieckholm.com/