Lino Lakes in Anoka County, MN was a great place to scout out a great deal on lakeshore or acreage in the Minneapolis/St. Paul area north metro during the second quarter of 2009. Directly impacted by the promise of an $8000 tax credit for first time buyers, bank owned and lender mediated properties flew off the Lino Lakes market. Traditional homes also saw an upswing in sales in the lower price points…heck in almost every price point. Even townhomes in this area have started to sell at a quicker pace, though not at higher prices.
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 in the low price points did not lingering on the market during the second quarter. The cumulative days on market (CDOM) statistic was down considerably to 174 in the second quarter compared 192 in first quarter. It is still higher than for the average CDOM of 160 that was for all of 2008. But obviously homes are starting to sell in Lino Lakes neighborhoods. Looking at current inventory levels and the rate of sales during the 2nd quarter for homes priced under $300,000, there is about 6 months of inventory for single family homes and 10 month of inventory on town homes.
Surprisingly, Lino Lakes homes in the $300,000- $400,000 price point are also starting to sell as people look for deals on acreage and lake homes with a quick commute to either downtown area. High end homes are not selling however. With two sales in the past six months over $500,000, it will take three years for the current high end inventory to sell.
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
2nd Quarter Lino Lakes residential real estate statistics for single family homes:
Under $200,000~ 17 Active Listings, 2 Pending Listings, 14 Sold Listings, 159 CDOM
$200,000-$300,000 ~ 40 Active Listings, 6 Pending Listings, 13 Sold Listings, 160 CDOM
$300,000-$400,000 ~ 27 Active Listings, 7 Pending Listings, 7 Sold Listings, 155 CDOM
$400,000-$500,000 ~ 10 Active Listings, 0 Pending Listings, 5 Sold Listings, 227 CDOM
$500,000 and Up ~ 12 Active Listings, 0 Pending Listings, 2 Sold Listings, 370 CDOM
2nd Quarter Lino Lakes residential real estate statistics for townhomes and condos:
Under $200,000~ 25 Active Listings, 5 Pending Listings, 9 Sold Listings, 121 CDOM
$200,000-$300,000 ~ 8 Active Listings, 1 Pending Listings, 1 Sold Listings, 430 CDOM
$300,000-$400,000 ~ 1 Active Listings, 0 Pending Listings, 2 Sold Listings, 165 CDOM
Lakeshore available in Lino Lakes as of 6/30/2009
4 Active Listings
Lino Lakes lakeshore price range: $375,000-$648,000
1 Home on Otter Lake
2 Homes on Reshanau Lake
Acreage properties available in Lino Lakes as of 6/30/2009
14 properties listed on 1-2 Acres priced between $159,900-$648,000
4 properties listed on 2.1-5 Acres priced between $239,900-$550,000
5 properties listed on 5.1-10 Acres priced between $249,900-$750,000
1 property listed on 10.96 Acres priced at $660,000
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 4/1/09 through 6/30/09.
Copyright 2009 Teri Eckholm http://www.terieckholm.com/
