Real estate in Forest Lake, MN in north Washington County and east Anoka County continues to sell but slowly. The Days on Market (DOM) Statistic is currently running at about 211 days for all homes sold. When the first quarter numbers showed area homes had stayed on the market an average of 287days, this is welcome news.
If we look at sold homes in the under $300,000 category the absorption rate has come back an 11 month level from earlier this year where it was nearly 24 months. But high end homes continue to struggle for sales. Only five homes sold in the last 6 months in the $400,000 plus price category. Currently, the Forest Lake community sits with nearly 5 years of inventory if sales continue at this slow pace on high priced homes. Great homes at amazing prices are out there on lakeshore and acreage properties. With this much inventory, sellers will need to be flexible on pricing. It might be the perfect time to negotiate a GREAT deal on a lakeshore home!
Lakeshore opportunities are abundant in the Forest Lake area! There are more listings than ever before at incredible prices too! The is inventory awesome…47 lakeshore homes currently active. Many have been on the market for a quite a while. With continued low interest rates, it is a great time to negotiate a deal on your piece of Minnesota shoreline!
Mid Year 2008 Forest Lake real estate statistics for single family homes:
Under $300,000~ 99 Active Listings, 10 Pending Listings, 47 Sold Listings, 194 DOM (Lakeshore Subgroup ~ 2 Active, 0 Pending, 3 Sold)
$300,000-$400,000 ~ 39 Active Listings, 0 Pending Listings, 14 Sold Listings, 268 DOM (Lakeshore Subgroup ~ 8 Active, 0 Pending, 8 Sold)
$400,000-$500,000 ~ 13 Active Listings, 0 Pending Listings, 4 Sold Listing, 167 DOM (Lakeshore Subgroup ~ 6 Active, 0 Pending, 2 Sold)
$500,000 and Up~ 37 Active Listings, 1 Pending Listings, 3 Sold Listings 385 DOM (Lakeshore Subgroup ~ 31 Active, 1 Pending, 3 Sold)
Lakeshore available in the Forest Lake area:47 Active Listings, 1 Pending Listings, 16 Sold Listings
Forest Lake lakeshore price range: $269,900-$2,300,000
38 Homes on Forest Lake
7 Homes on Clear Lake
1 Home on Shields Lake
1 Home on Heims Lake
**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.
Articles on Forest Lake, Lakeshore and Minnesota that might be of interest:
- Does "Minnesota Nice" Affect the Real Estate Market? "Yah, You Betcha!"
- Dreaming of Life on MN Acreage?--What YOU Need to Know Before YOUR Move!
- Affordable Minnesota Lakeshore
- Relocating to Forest Lake MN? The Schools are Full of Ranger Pride!
- Forest Lake, MN Real Estate Market Statistics 1st Quarter 2008
- Lino Lakes, MN Real Estate Market Statistics 1st Quarter 2008
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