Monday, April 19, 2010

Lino Lakes, MN Real Estate Market Statistics First Quarter 2010

Looking for a good deal on lakeshore or acreage in the Twin Cities area north metro? Lino Lakes, MN in Anoka County might be just the ticket. Just north of the Minneapolis and St. Paul, Lino Lakes is an eclectic area of real estate with acreage, lake homes, townhomes, single family starter homes and country estates. First quarter sales have been very good in the lower price points with bank owned and lender mediated properties impacting the sales. Homes in higher price points and those offered by traditional sellers 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 a couple of weeks less in 2010 than in the first quarter of 2009. The first quarter cumulative days on market (CDOM) statistic is a bit lower than for the average CDOM of 2008 (178 versus 192) Looking at current inventory levels and the rate of sales for homes priced under $300,000, there is about 11-12 months of inventory. This is just a bit higher absorption rate than last year at this time.

While homes under $200,000 in Lino Lakes appear to have about 6 months of inventory, homes in the $200,000- $300,000 price point are looking at 2.5 times the inventory and market time. While homes in the higher price ranges are looking at a couple of years worth of inventory.Townhomes are doing much better than last year with about 5 months of inventory. Last year at this time Lino Lakes had nearly 3 years of townhouse inventory. High inventory combined with continued low interest rates make it a great time to consider buying Lino Lakes home.

1st Quarter 2010 Average Sales Price of all homes sold in Lino Lakes:

· All Homes $204,323
· Single Family Homes $231,710
· Townhomes/Condos $140,422

1st Quarter 2010 Average Cumulative Days on Market in Lino Lakes:
· All Homes 178
· Single Family Homes 191
· Townhomes/Condos 146

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

Under $200,000~ 14 Active Listings, 7 Pending Listings, 7 Sold Listings, 122 CDOM

$200,000-$300,000 ~ 51 Active Listings, 13 Pending Listings, 10 Sold Listings, 234 CDOM

$300,000-$400,000 ~ 29 Active Listings, 3 Pending Listings, 3 Sold Listings, 126 CDOM

$400,000-$500,000 ~ 16 Active Listings, 0 Pending Listings, 1 Sold Listings, 297 CDOM

$500,000 and Up~ 12 Active Listings, 0 Pending Listings, 0 Sold Listings

1st Quarter Lino Lakes residential real estate statistics for townhomes and condos:

Under $200,000~ 16 Active Listings, 9 Pending Listings, 9 Sold Listings, 146 CDOM

$200,000-$300,000 ~ 8 Active Listings, 1 Pending Listings, 0 Sold Listings

Lakeshore available in Lino Lakes as of 4/20/2010

6 Active Listings
Lino Lakes lakeshore price range: $304,500-$1,118,0001 Home on Amelia Lake
2 Homes on Baldwin Lake
3 Homes on Reshanau Lake
Acreage properties available in Lino Lakes as of 4/20/201016 properties listed on 1-2 Acres priced between $189,900-$595,000.
3 properties listed on 2.1-5 Acres priced between $163,000-$269,900
6 properties listed on 5.1-10 Acres priced between $309,500-$1,118,000
1 property listed on 29 Acres priced at $749,900
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 3/31/10.

Copyright 2010 Teri Eckholm