Saturday, July 5, 2008

Wyoming, MN Real Estate Market Statistics Mid Year 2008

The City of Wyoming, Minnesota on the northeastern edge of the Twin Cities metropolitan area is a hidden gem! According to the city’s website the town was named after the first settlers who in 1855 relocated from the Wyoming Valley in Pennsylvania. Wyoming boasts its own police and fire departments, city utilities, library, hospital, elementary school and several community parks. Neighborhood shopping is great with a cute coffee shop, drug store and grocery store in the heart of the town.

Activities are abundant in Wyoming. Not only is the center of the community located smack dab on the walking/biking/snowmobile trail that runs along Hwy 61, there is the new
Stars and Strikes bowling, laser tag, restaurant and meeting facility too. Several great fishing lakes are nearby including, Forest Lake, Coon Lake and Comfort Lake. Hunting is a favorite activity of many Wyoming residents as areas of Carlos Avery State Wildlife Management area are within its border. Wyoming Elementary is an integral part of the Forest Lake District 831 school district which provides community sports and activities for individuals of all ages.

Commuting into St. Paul or Minneapolis is a breeze from Wyoming as most residences are a within 3-5 minute drive to I35. The city is just 3 miles north of Forest Lake which is home to the
NEW Park and Ride lot for an express commute to downtown Minneapolis.

Real estate in Wyoming, MN in southern Chisago County is still selling but it is selling slower than other areas in the metro. The cummulative Days on Market (DOM) Statistic for single family homes in Wyoming is 214 days or approximately 7 months. That is roughly 2 months longer than areas just to the south and west in Forest Lake, Ham Lake and Lino Lakes.

Inventory levels seem to be in line with surrounding communities for price points under $300,000 with about 16 months of inventory. But at higher price points, the inventory level is quite high which translates to approximately 4 years of inventory for Wyoming homes over $300,000, if sales continue at this slower pace.

The amazing deals on the homes in the Wyoming area reflect the changed market. The prices on many existing homes for sale in the Wyoming community have been cut drastically to entice buyers to drive just a little further north.

Mid Year 2008 Wyoming residential real estate statistics for single family homes:

Under $300,000 ~ 53 Active Listings, 5 Pending Listings, 19 Sold Listings, 201 DOM

$300,000-$400,000 ~ 16 Active Listings, 0 Pending Listings, 2 Sold Listings, 256 DOM
$400,000-$500,000 ~ 4 Active Listings, 1 Pending Listings, 0 Sold Listing, N/A DOM
$500,000 and Up ~ 4 Active Listings, 1 Pending Listings, 1 Sold Listings 417 DOM

**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.

Featured Home in Wyoming MN (Pictured Above):
25797 Freeport Avenue, Wyoming, MN 55092

Articles on Wyoming, 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