Tuesday, July 1, 2008

Circle Pines & Lexington, MN Real Estate Market 2008 Mid Year Sales Statistics

Circle Pines is a small city, approximately 2 square miles, in Anoka County. The neighboring community, Lexington is even smaller encompassing less than one square mile of land. Both little communities are often overlooked since they are sandwiched between Blaine, Lino Lakes just to the north of Shoreview.

Circle Pines might be small but is thriving and has a unique history. According to
Circle Pines and Lexington History, it was one of the first cooperative communities started in 1946 in an area between the townships of Blaine and Centerville in Southern Anoka County. According to the Circle Pines website, the symbol of the cooperative was a pine tree with a circle around it; thus the name Circle Pines. Though the unique development idea only lasted 3 years due to financial and leadership problems, the name remained. One benefit of its cooperative past is that Circle Pines is the only suburban city that operates its own natural-gas distribution company which serves part of Lino Lakes. The community is a part of the Centennial School District is home to Golden Lake and acres of wetlands.

Real estate in the communities of Circle Pines and Lexington is affordable and selling—though admittedly at a slower pace than most sellers would like. First half of 2008 numbers show area homes are staying on the market an average of 160 days. When broken down to single family homes versus townhomes/ condos, the single family homes have a 158 average CDOM while townhomes/condos are selling a bit more slowly with a 181 CDOM. Prices reductions on townhomes are drastic in this area due to the abundance of new construction in the neighboring community of Blaine. Amazing deals can be had for the astute first time condo home buyer.

The cumulative days on market numbers for Circle Pines are comparable favorably with other areas of the north metro like Blaine, Forest Lake, Lino Lakes and Ham Lake where homes had 1st quarter cumulative days-on-market rates (CDOM) ranging from 150 to over 200 days. (Links to statistical reports for these communities are listed below.)

Inventory levels of single family homes under $200,000 in Circle Pines are reasonable as most homes fit into that under $300K price catagory. Lower days on the market can be partially attributed to fewer high priced homes and the central location to the downtown areas. New construction townhomes in Lexington that have been on the market since 2005 also skew the DOM results.

2008 Mid Year Sales Statistics for Circle Pines residential real estate statistics for single family homes:

Under $200,000~ 15 Active Listings, 6 Pending Listings, 11 Sold Listings, CDOM 151

$200,000-$300,000 ~ 15 Active Listings, 4 Pending Listings, 5 Sold Listings, CDOM 140

$300,000-$400,000 ~ 0 Active Listings, 0 Pending Listings, 2 Sold Listings, CDOM 265

$400,000-$500,000~ 4 Active Listings, 0 Pending Listings, 0 Sold Listings

$500,000 and Up ~ 1 Active Listings, 0 Pending Listings, 0 Sold Listings

2008 Mid Year Sales Statistics for Circle Pines residential real estate statistics for townhomes and condos:

Under $200,000~ 24 Active Listings, 0 Pending Listings, 13 Sold Listings, CDOM 181

$200,000-$300,000 ~ 11 Active Listings, 0 Pending Listings, 0 Sold Listings

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/08 through 6/30/08.

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

Photo Featured Listing in Circle Pines Listing :401 Village Parkway, Circle Pines, MN 55014

Other Anoka County Listings:
601 86th Lane NW, Coon Rapids, MN 55433
15139 E Vermillion Circle NE, Ham Lake, MN 55304

Articles on 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.
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