First quarter sales have seen sales in the lower price points with bank owned and lender mediated properties impacting the sales. Traditional homes had longer market times but some properties were selling.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.
Lino Lakes single family homes are lingering on the market for about a month longer in this first quarter of 2009. The first quarter cumulative days on market (CDOM) statistic is much higher than for the average CDOM of 2008 (192 versus 160) 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 now that spring as just about sprung.
While homes under $200,000 in Lino Lakes appear to have about 10 months of inventory, homes in the $200,000- $300,000 price point are looking at twice the inventory and market time. Townhomes are moving even slower with about three years of inventory. High inventory combined with low interest rates and an $8000 tax credit for first time buyers makes it a great time to consider buying Lino Lakes home.
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 Cumulative Days on Market in Lino Lakes:
· All Homes 160
· Single Family Homes 157
· Townhomes/Condos 178
1st Quarter Lino Lakes residential real estate statistics for single family homes:
Under $200,000~ 21 Active Listings, 4 Pending Listings, 6 Sold Listings, 84 CDOM
$200,000-$300,000 ~ 46 Active Listings, 3 Pending Listings, 7 Sold Listings, 270 CDOM
$300,000-$400,000 ~ 29 Active Listings, 1 Pending Listings, 1 Sold Listings, 125 CDOM
$400,000-$500,000 ~ 10 Active Listings, 0 Pending Listings, 3 Sold Listings, 223 CDOM
$500,000 and Up ~ 14 Active Listings, 1 Pending Listings, 1 Sold Listings, 275 CDOM
1st Quarter Lino Lakes residential real estate statistics for townhomes and condos:
Under $200,000~ 27 Active Listings, 7 Pending Listings, 3 Sold Listings, 158 CDOM
$200,000-$300,000 ~ 5 Active Listings, 0 Pending Listings, 0 Sold Listings
$300,000-$400,000 ~ 2 Active Listings, 0 Pending Listings, 0 Sold Listings
Lakeshore available in Lino Lakes as of 3/31/2009
4 Active Listings
Lino Lakes lakeshore price range: $265,000-$648,000
1 Home on Baldwin Lake
1 Home on Otter Lake
2 Homes on Reshanau Lake
Acreage properties available in Lino Lakes as of 3/3/2009
15 properties listed on 1-2 Acres priced between $169,900-$799,900.
3 properties listed on 2.1-5 Acres priced between $249,900-$550,000
2 properties listed on 5.1-10 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 1/1/09 through 3/31/09.
Copyright 2009 Teri Eckholm http://www.terieckholm.com/
