Wednesday, October 8, 2008

Lino Lakes, MN Real Estate Market Statistics 3rd Quarter 2008

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 still selling. During the third quarter, single family homes had a cumulative days on the market statistic (DOM) of 151 days or about five months average selling time in the Lino Lakes area. While encouraging, these are summer numbers and it will be interesting to see if the momentum continues into the fall and winter. Active homes priced under $300,000 seem to be selling well and with thirteen in pending, it seems there is still some momentum as we head into October in this category. There currently is about a six month absorption rate meaning it will take six months for the current inventory of homes to be sold if no additional homes are listed. Lino Lakes existing homes continue to compete with available new construction in Hugo and Blaine. But as it is in southern Anoka County, its sales figures do not tend to be as stagnant as northern Anoka County communities like Ham Lake and Linwood.

High end home sales are starting to move in Lino Lakes. This is welcome news as no high end homes were sold in the first quarter of 2008. There were still just a handful of sales in the $400,000-$500,000 category but the 6 sales over $500,000 is an encouraging sign.
Acreage opportunities are abundant in the Lino Lakes area! From one acre parcels to 15 acre hobby farms, Anoka County as quite a selection of homes in the Lino Lakes area. 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 acreage!

1st Quarter Lino Lakes residential real estate statistics for single family homes:

Under $300,000
~ 50 Active Listings, 13 Pending Listings, 22 Sold Listings, 145 DOM
$300,000-$400,000 ~ 30 Active Listings, 1 Pending Listings, 7 Sold Listings, 145 DOM
$400,000-$500,000 ~ 13 Active Listings, 0 Pending Listings, 2 Sold Listing, 181 DOM
$500,000 and Up~ 13 Active Listings, 0 Pending Listings, 6 Sold Listings, 152 DOM

Lakeshore available in the City of Lino Lakes:
4 Active Listings
Lino Lakes lakeshore price range: $324,900-$698,000

1 Home on Baldwin Lake
1 Home on Otter Lake
2 Home on Reshanau Lake

Acreage properties available in Lino Lakes:

12 properties listed on 1-2 Acres priced between $89,900-$799,900
2 property listed on 3-5 Acres priced at $264,900-$550.000
3 properties listed on 5-10 Acres priced at $319,900-$579,900
1 property listed on 10-15 Acres priced at $689,900
1 property listed on 20 Acres priced at $429,900
1 property listed on 80 Acres priced at $6,000,000

**All Sold and Pending Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 7/1/08 through 9/30/08.

Articles on Lino Lakes, 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