Wednesday, February 25, 2009

Lino Lakes, MN Real Estate Market Statistics Year End 2008

Like much of the real estate in the Minneapolis/St. Paul area, Lino Lakes, MN in Anoka County is amazingly affordable. This year properties sold but the average selling price was directly affected by the bank owned and lender mediated properties on the market. Traditional homes had longer market times but properties were selling.

Though Lino Lakes has a good mixture of lakeshore, acreage and townhome residences but is more known for having a bit of space between the houses. It conveniently located near the junction of the 35E and 35W split, just 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.

The year end numbers for Lino Lakes sales show area homes were selling slower than last year with an average of 160 days on the market for sold properties (DOM) compared with
141 days DOM in the fourth quarter of 2007. Looking at current inventory levels and the rate of sales for homes priced under $300,000, there is about 10-11 months of inventory. This does seem a little longer than in surrounding communities. Hopefully things will pick up again as the snow melts away.
While homes under $300,000 in Lino Lakes have a manageable inventory level high end homes continue to sell at a slower pace but surprisingly, not by much. Based on the year end statistics, it will now take about 13 months to sell the current inventory of homes above the $400,000 price tag. This is down considerably in Lino Lakes from last year when the inventory level hovered around the two year mark for absorption. Surrounding Anoka County areas still have 2 plus years of inventory as we started 2009.

2008 Average Sales Price of all homes sold in Lino Lakes:

  • All Homes $259,826

  • Single Family Homes $276,580

  • Townhomes/Condos $169,074
2008 Average Cummulative Days on Market in Lino Lakes:
  • All Homes 160

  • Single Family Homes 157

  • Townhomes/Condos 178

4th Quarter Lino Lakes residential real estate statistics for single family homes:

Under $200,000~ 43 Active Listings, 7 Pending Listings, 27 Sold Listings, 131 CDOM
$200,000-$300,000 ~ 45 Active Listings, 5 Pending Listings, 62 Sold Listings, 136 CDOM
$300,000-$400,000 ~ 29 Active Listings, 2 Pending Listings, 27 Sold Listings, 160 CDOM
$400,000-$500,000 ~ 8 Active Listings, 1 Pending Listings, 7 Sold Listings, 232 CDOM
$500,000 and Up~ 12 Active Listings, 1 Pending Listings, 7 Sold Listings, 267 CDOM

Lakeshore available in Lino Lakes as of 2/25/20093 Active Listings
Lino Lakes lakeshore price range: $499,000-$698,000
1 Home on Baldwin Lake
2 Homes on Reshanau Lake
Acreage properties available in Lino Lakes as of 2/25/2009
11 properties listed on 1-2 Acres priced between $192,500-$799,900.
3 properties listed on 3-5 Acres priced between $145,000-$550,000
3 properties listed on 5-10 Acres priced between $349,000-$650,000
1 property listed on 10.92 Acres priced at $279,900
1 property listed on 29 Acres priced at $849,900
1 property listed on 80 Acres priced at $6,000,000

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

**All Statistical information sold based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/08 through 12/31/08.

Copyright 2009