Minnesota Real Estate Update: Housing statistics

Showing posts with label Housing statistics. Show all posts

Thursday, February 25, 2010

January and February 2010 Twin Cities Real Estate Market Video Updates—A Video Double Feature!

The February Monthly Skinny from the Minneapolis Area Association of REALTORS® was released last week. They say time flies when you are having fun...Well, I have been having fun working with several buyers and traditional sellers to get their homes prepared for the spring market so I missed posting the January Skinny. So...It is Double Feature time!

The January Skinny was a year end update for 2009 as we closed the book and took a huge step toward a balanced market in the Twin Cities. As many of the community snapshots I have posted over the past 3-4 weeks have stated, this is due to many factors. Most noteably, historic affordability, low interest rates, the first time buyer tax credit and pent up demand.

The February Skinny recaps a slow start to 2010. While traditional sales were finally up, home prices are stabilizing and market times are down, there is still reason to be concern. The tax credit for homebuyers that has spurred home sales over the past few months will soon expire. Add to that, the Federal Reserve has announced it will no longer purchase mortgage backed securities which is predicted to cause interest rates to rise...2010 will be an interesting year for buyers, sellers and home owners.

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.

Tuesday, December 22, 2009

December 2009 Twin Cities Real Estate Market Video Update—Continuing Signs of Recovery!

In the December Monthly Skinny from the Minneapolis Area Association of REALTORS® provides a snapshot of the Twin Cities real estate market as we wrap up 2009.
Though there still are challenges in the upper brackets of the housing market, there has been a continued trend of recovery. Though we did still see a 3% month-to-month drop in median home prices, from $175,000 to $170,000, this is lowest drop in two years. Strong home sales added to shrinking supply equates to a stabilizing home market. This month's Skinny notes that our Twin Cities was affected by the $8000 tax credit as part of this recovery. There is hope that the extended and expanded tax credit will continue to stabilize the Twin Cites home marketing into 2010 but only time will tell. Also predictions for the 2010 national market by Lawrence Yun, Chief Economist for the National Association of REALTORS® were shared in this month’s report.
Enjoy the last video update for the Twin Cities real estate market for 2009.

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 , Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. 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.

Saturday, December 12, 2009

November 2009 Twin Cities Real Estate Market Video Update—Affects of the $8000 Tax Credit!

As we cruise into the cold of winter, we can take a few minutes to review how the fall market energized the Twin Cities real estate market as we view the November Monthly Skinny from the Minneapolis Area Association of REALTORS®.

This month's Skinny examines how the Twin Cities was affected by the $8000 tax credit in the month of October. The announcement of the extension and expansion came late enough into the month that many buyers did not want to risk missing the original November 30th deadline. Almost 4700 purchase agreements were signed in the month of October. The affects of the first time buyer credits were most noteable on homes under $200,000. Also the inventory of foreclosure homes is down considerably now while homes in a short sale position are not selling so quickly. The obvious reason for this is that the approval of the purchase for a lender-owned home is within days while a home in a short sale position will take weeks or even months to obtain all of the approvals required for a closing. As noted in the video it will be interesting to see how the extended and expanded tax credit will affect the real estate market during the next few months. Most first time buyers that wanted to buy may have already purchased a home to meet the original deadline but the expansion for previous homeowners does create a new wild card.

Enjoy the video and lets hope these positive signs for Twin Cities real estate continue into 2010.

Saturday, October 31, 2009

October 2009 Twin Cities Real Estate Market Video Update—Not a Total Comeback but Still Moving Forward!

Althought it is the last day of October, there is still time to share this month's update from the Minneapolis Area Association of REALTORS®.

The October Monthly Skinny points out that even in the cooler September temperatures, theTwin Cities real estate market was hotter than average for early fall. The Twin Cities area saw a 23.5% increase in pending sales in September 2009 as compared to September 2008. Many of these purchase agreements were for homes in the very affordable under $120,000 price range. No doubt due this surge in sales contracts were due to the soon to expire tax credit for first time home buyers. That credit has been such a boon to the lower priced homes that it has really worked down the amount of bank owned properties and there is considerably less inventory in that category going forward. Short sale properties did not see nearly the same amount of action as there is often timeframe issues when placing an offer on a home that is in a short sale position. With the tax credit deadline looming few first time buyers want to take a chance on a short sale not closing prior to the November 30, 2009 expiration date of the credit as it stands today. Yes, the credit could be extended but it is obvious from the numbers that few buyers wanted to take that chance.

So how does this compare to the real estate market is that for single family homes in Anoka County, Ham Lake, Forest Lake and throughout the Twin Cities north metro? The north metro market has had a similar pattern to the rest of the metro area. We are still dealing with a stagnant townhomes and condo market and single family homes in the higher price points. In both of these catagories, there continues to be some amazing opportunities for buyers as compared to just a few years ago. Move up buyers and downsizers can benefit in this market if they own a home valued under $200,000, the price-point where most first time buyers are looking. Seniors who are down sizing from a reasonably sized/priced home can sell to first time buyers and obtain a condo at a steal of a price. Young families who have overgrown their starter home can move up to a larger home in the $250,000-$300,000 price range and have quite a selection to choose from.

Enjoy the video and remember that positive trends don't equate a comeback as there are still many challenges facing the Twin Cities real estate market. But we are moving forward.

Sunday, October 11, 2009

Lino Lakes, MN Real Estate Market Statistics Third Quarter 2009

Looking for a good deal on lakeshore or acreage in the Minneapolis/St. Paul area north metro? Lino Lakes, MN in Anoka County might be just the ticket. 2009 had seen an abundance of sales in the lower price points with bank owned and lender mediated properties impacting the market. Traditional homes had longer market times and by the end of the 3rd quarter properties were starting to move in even the higher price points.

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.

Like other communities in the Twin Cities, Lino Lakes homes priced under $300,000 are selling while those priced over $300,000 are lingering on the market. Inventory is way down in the under $200,000 single family home category and sales are strong up in the $200,000 to $300,000 categories for both single family and townhomes. The third quarter cumulative days on market (CDOM) statistic is much lower than for the average CDOM first quarter of 2009 (142 versus 192). It is also better than the CDOM for all of 2008 (142 versus 160). Looking at current inventory levels and the rate of sales for single family homes priced under $200,000, there is about 3-4 months of inventory. And a bit higher with 7-8 months of inventory at the $200K-$300K price point. Surprisingly even the inventory levels in the $300K-$400K range of Lino Lakes single family homes has made quite a bit of progress this summer. This category also is under a year’s worth of inventory as it has about 10-11 months worth. Hopefully this will be a trend we see continue as we end 2009 and one that will continue into the new year.

Townhomes continue to struggle even with the $8000 tax credit for first time buyersthat helped make so much difference in the single family home market. In every price category, there continues to be significant inventory and this doesn’t include all of the non-MLS listed new construction townhomes in the area either. Motivated sellers will have to be very aggressive with their pricing if they need to sell a townhome in Lino Lakes. Buyers considering townhomes in the Twin Cities north metro have quite an opportunity to make a deal in the Lino Lakes area.

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

Under $200,000~ 11 Active Listings, 10 Pending Listings, 8 Sold Listings, 164 CDOM
$200,000-$300,000 ~ 42 Active Listings, 9 Pending Listings, 16 Sold Listings, 146 CDOM
$300,000-$400,000 ~ 28 Active Listings, 4 Pending Listings, 9 Sold Listings, 101 CDOM
$400,000-$500,000 ~ 20 Active Listings, 1 Pending Listings, 1 Sold Listings, 91 CDOM
$500,000 and Up~ 10 Active Listings, 0 Pending Listings, 0 Sold Listings

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

Under $200,000~ 26 Active Listings, 1 Pending Listings, 4 Sold Listings, 162 CDOM
$200,000-$300,000 ~ 11 Active Listings, 4 Pending Listings, 0 Sold Listings
$300,000-$400,000 ~5 Active Listings, 0 Pending Listings, 0 Sold Listings

Lakeshore available in Lino Lakes as of 10/11/2009

6 Active Listings

Lino Lakes lakeshore price range: $342,900-$1,118,000

1 Home on Amelia Lake
1 Home on Otter Lake
4 Homes on Reshanau Lake
Acreage properties available in Lino Lakes as of 10/11/2009
15 properties listed on 1-2 Acres priced between $149,900-$619,000.
5 properties listed on 2.1-5 Acres priced between $180,000-$349,900
5 properties listed on 5.1-10 Acres priced between $349,000-$1,118,000
1 property listed on 10.96 Acres priced at $595,000
1 property listed on 29.52 Acres priced at $749,000
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 7/1/09 through 9/30/09.

Saturday, September 19, 2009

September 2009 Twin Cities Real Estate Market Video Update—Real Estate Statistical Crystal Ball Fuzzy after Tax Credit Expires

In the September Monthly Skinny produced by the Minneapolis Area Association of REALTORS®, it appears there are indications of a continued improving market. We have now experienced fourteen consecutive months of increased pending sales as compared to the same month the year before. Of these sales, 40% were still lender mediated (bank owned, foreclosures and short sales) but traditional sellers are starting to see more action. This is especially true for those with homes priced under $150,000. As most of this activity has been generated by the soon to expire, first time buyer tax credit, the crystal ball is fuzzy going forward as to whether the momentum of the 2009 market will continue into 2010.

My take on the market is that this report is spot-on for single family homes in Anoka County, Ham Lake, Forest Lake and throughout the Twin Cities north metro. What it doesn't mention is that townhomes and condos still have stagnant sales as have homes in the higher price points. In both of these catagories, there continues to be some amazing price opportunities as compared to the previous few years. Move up buyers and downsizers can benefit in this market if they own a home valued under $200,000, the price-point where most first time buyers are looking. Seniors who are down sizing from a reasonably sized/priced home can sell to first time buyers and obtain a condo at a steal of a price. Young families who have overgrown their starter home can move up to a larger home in the $250,000-$300,000 price range and have quite a selection to choose from.

Enjoy the video and lets hope when the crystal ball clears for 2010, the real estate statistical news remains just as positive as it has been this past year!

Friday, August 28, 2009

August 2009 Twin Cities Real Estate Market Video Update—Assessing the Seesawing Real Estate Statistics

The supply and demand seesaw is showing more positive indicators in the Twin Cities housing market according to the Minneapolis Association of Realtors® monthly skinny for August 2009. Pending sales numbers are the best they have looked since 2005…up for the 13 consecutive month in a row. Inventory is down 22% since July 2008…another great indicator of a recovering market. Days on the Market are also down significantly. But a significant amount of the sales continue to be lender mediated short sales and foreclosures so while we can be optimistic, it is best to remain cautiously optimistic when considering the Twin Cities real estate market.

If you are a first time buyer interested in taking advantage of the $8000 tax credit, don’t delay! I am continuing to field questions daily from excited first time Twin Cities north and east metro homebuyers on the specifics of this unique $8000 Tax Refund opportunity. (If you have a question call on the program, just let me know with a call or text to 651-336-7073 or just send a quick email.)

Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Thursday, July 23, 2009

July 2009 Twin Cities Real Estate Market Video Update—Half Time Show for the 2009 Real Estate Statistics!

The year is half over and the Minneapolis REALTORS® Association's July Monthly Skinny, it a half time show worth viewing. The report, while not completely rosy, does show that the market has improved significantly since the first of the year. Lender mediated sales are a nearly half of the market at nearly 46% but traditional sellers are starting to get into the game on more and more occasions. Home inventory levels are continuing to move down; there is currently 22% less home listings on the market today as compared to the same time last year. However the total inventory is still in the 7 month range (a balanced market would be 5.6 months). The Twin Cities real estate market is much better than at the beginning of the year. With the $8000 first time homebuyer tax credit coming to a close, there is anticipation of continued activity in the second half of 2009 as well.

First time buyers hoping to take advantage of the credit really have to get moving or they may run out of time. Getting approved for a loan can take a few days but finding a home can take a while. Great REO, bank-owned properties and well priced homes owned by traditional sellers in the lower price points sell in days! A home priced under $150,000, in move-in condition will more than likely have multiple offers within a day of listing in north metro communities like Blaine, Forest Lake and Lino Lakes. I have received several calls from buyers’ agents on a listing I have in pending; “My buyers are very interested in the home, if the deal falls apart.” With little inventory coming on the market but more first time buyers coming in everyday, procrastinating buyers may be disappointed in the selection and frantic pace of the current market. Recently, every time I try to set showings of first time buyer/ starter homes in Ham Lake, Blaine, Hugo or the Forest Lake area, an average of 6 of 10 are under contract, had offers or were sold pending inspection.
If you are a first time buyer interested in taking advantage of the $8000 tax credit, don’t delay! I am continuing to field questions daily from excited first time Anoka County buyers on the specifics of this unique $8000 Tax Refund opportunity. (If you have a question call on the program, just let me know with a call or text to 651-336-7073 or just send a quick email.)

Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Friday, April 3, 2009

Lino Lakes, MN Real Estate Market Statistics First Quarter 2009

Looking for a good deal on lakeshore or acreage in the Minneapolis/St. Paul area north metro? Lino Lakes, MN in Anoka County might be just the ticket.

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.

Ham Lake, MN Real Estate Market Statistics 1st Quarter 2009

Believe it or not, the unique Ham Lake name wasn't the first choice by the settler's to the area. Incorporated in 1974, Ham Lake became a city after over a hundred years of humble but steady growth. The area was first settled in 1855 by a group of Scottish men on the southwest side of Ham Lake. The original name of the community was Glen Carey, which is the Scottish translation of “beautiful valley”. Following a prairie fire in 1857, the first settlers moved but the community was resettled again. The new Scandinavian settlers had a hard time with the pronunciation of Glen Carey and soon the fledging community was known as Ham Lake...most probably because the lake in the area has a unique "ham-hock" shape. Anoka County officially was recognized Ham Lake as a township in 1871. In the early 1900’s Central Avenue (Highway 65) was a slow commute as it was a wagon trail through the sand and swampland. And we think going through stop light after stop light slows traffic. Though it was graveled and paved at some point, it 1954 before was expanded to four lanes.

Those four lanes are in full use now as more and more people look to buying acreage, executive, luxury and lakeshore homes in the Ham Lake area. The real estate market remains sluggish in Ham Lake, MN like many other Anoka County communities but some homes are selling. There are bright spots across the board with homes selling in all price categories under $400,000. However, new construction sales are at a standstill with zero homes sold in the first quarter of 2009. The average Cumulative Days-on-Market (CDOM) is up for the first quarter in Ham Lake at 249 days compared to 158 for all of 2008 but the numbers appear to be skewed this quarter by a couple of properties that lingered on the market for nearly two years.

Inventory is down in Ham Lake from the levels seen in 2008. There are currently 110 homes active on the market compared to 126 in January of 2008. Homes continue to take months to sell and there are more Ham Lake homes than Ham Lake buyers. Homeowners considering selling a home in the Ham Lake area must consider the average time to sell a home in the Twin Cities north metro is approximately 6-8 months. Right now inventory levels indicate there is about 24 months of inventory. Having your home properly priced and prepared for showings will be essential if planning to sell a home in this Anoka County community in 2009.

First Quarter 2009 Ham Lake residential real estate statistics for single family homes:

Under $200,000~ 35 Active Listings, 7 Pending Listings, 3 Sold Listings, CDOM 381 (All existing homes)

$200,000-300,000 ~ 31 Active Listings, 6 Pending Listings, 5 Sold Listings, CDOM 157 (New Construction Subgroup ~ 1 Active, 0 Pending, 0 Sold)

$300,000-400,000 ~ 29 Active Listings, 4 Pending Listings, 7 Sold Listings, CDOM 283 (New Construction Subgroup ~ 7 Active, 0 Pending, 0 Sold)

$400,000-$500,000 ~ 15 Active Listings, 1 Pending Listings, 0 Sold Listings (New Construction Subgroup ~ 2 Active, 1 Pending, 0 Sold)

$500,000 and Up~ 20 Active Listings, 0 Pending Listings, 1 Sold Listings, CDOM 77 (New Construction Subgroup ~ 7 Active, 0 Pending, 0 Sold)

Lakeshore available in the City of Ham Lake6 Active Listings

Ham Lake lakeshore price range: $235,000-$945,000

2 Homes on Coon Lake
2 Homes on Lake Amelia
2 Home on Little Coon Lake

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/09 through 3/31/09.

Thursday, February 26, 2009

2008 Real Estate Market Statistics Ham Lake, Forest Lake, Lino Lakes and Blaine MN….It’s All in the Details!

Real estate marketing statistics have been thrown around in the media lately as commonly and as randomly as a toddler tosses around a bowl full of Cheerios. Just like those darn O’s, numbers and stats are everywhere! But with so random of a disbursement, does a home buyer or seller really get what they mean?

Since the beginning of the year, I have been posting real estate market statistics for the communities in the north metro where I do the bulk of my business. While I work in Anoka County, Southern Chisago County, North and Eastern Ramsey County and North Washington County, the focus of my business is Ham Lake, Blaine, Lino Lakes and all communities in the Forest Lake and Centennial school districts.

There are two types of reporting that I post. The first is a quick snapshot report that includes information taken directly from the Minneapolis REALTORS® Association Top 100+ Report that includes statistics for 205 different Twin Cities communities. I put these stats along with a quick synopsis of what happened during the past year. I have done quite a few of these "short and sweet" looks into the basic real estate housing stats for several communities.

Housing Statistic Snapshots

But as is said, the devil is in the details (or God as the case may be). I have another version of market reports for specific communities are not snapshots. In the communities that I work in on a daily basis, I want to really help people to understand the market so I take good hard look at the real estate sales on a quarterly basis and post a more detailed report. I also post a year end review several communities I work in and know well.

When I take the time to pull statistics directly from the Twin Cities Multiple Listing Service (MLS) I look for specific details like cumulative days on the market (CDOM). This comes into play every time a home is relisted as a new listing in the MLS. The snapshots DOM do not take relisting into account so the time on the market appears to be much shorter than it really is in some area.

I also look at CDOM by price point. Homes in the lower price ranges are selling much more quickly that in the higher price points. A quick overview does not get that specific.

Since each community is unique, I will examine different things in different areas. Blaine has an abundance of townhomes. Since townhomes are lingering on the market in all price points, this does have an affect on the CDOM if the sales are looked as an aggregate. But if the townhomes and single family homes are looked at separately, the details give home buyers and sellers more useful information than a one-size-fits-all quick look at the market. Now in Forest Lake, lakeshore homes are a focus while in Ham Lake and Lino Lakes, acreage comes into play.

Knowing how to pull the right comparables and read the market comes from knowing a specific area and what makes the community different. Finding a REALTOR® that knows the details is imperative when buying or and selling a home in this topsy-turvey, continually changing real estate market. There is no one-size-fits-all agent when buying or selling a home today. It is necessary to work with an expert.

Tuesday, October 28, 2008

October Video Update on Twin Cities Real Estate Market

I came across this market update posted on YouTube from the Minneapolis Association of Realtors which is a very good explanation snapshot of condition of the Twin Cities real estate market today. It is cautiously optimistic about the housing market conditions this fall. Take a look...

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 terieckholm.com

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:

Dreaming of Life on MN Acreage?--What YOU Need to Know Before YOUR Move!

EXTREMELY Affordable Minnesota Lakeshore!

Forest Lake, MN Real Estate Market Statistics Third Quarter 2008

Circle Pines & Lexington, MN Real Estate Market Statistics 3rd Quarter 2008

Ham Lake, MN Real Estate Market Statistics 3rd Quarter 2008

Uniquely Minnesota Artful Distraction—Homeowner Version: D’oh! Homer at Home in Centerville

Tuesday, October 7, 2008

Forest Lake, MN Real Estate Market Statistics Third Quarter 2008

Forest Lake, Minnesota in the northeast metro Twin Cities area holds a special place in the hearts of many Minnesotans. Many residents of Minneapolis, St. Paul or one of the first ring suburbs will remember Forest Lake fondly from decades ago as a summer vacation spot or place to go for a drive in the country. Today, the lakeside cabins have been replaced with year round homes and the rural nature is all but a thing of the past in this thriving St. Paul suburb. Though housing growth has slowed down drastically in the past year or two in many northern suburbs due to ever increasing gas prices, Forest Lake is holding its own.

Real estate in Forest Lake, MN in north Washington County and east Anoka County continues to sell but slowly. The Days on Market (DOM) Statistic is currently running at about 167 days for all homes sold. When the six month numbers showed area homes had stayed on the market an average of 211days, this is welcome news.If we look at sold homes in the under $300,000 category the absorption rate is at a 7 month level which is down from 11 months at mid-year and significantly lower than the first quarter 24 month high. Summer weather for selling lakeshore may have contributed to this lower statistic. But high end homes continue to struggle for sales. Only eight homes sold in the 3 summer months in the $400,000 plus price category. Currently, the Forest Lake community sits with over 4 years of inventory when factoring in the sales of the first three quarters sales on high priced homes. Great homes at amazing prices are out there on lakeshore and acreage properties. With this much inventory, sellers will be forced to consider offers and be flexible when negotiating if they NEED to sell their home. However, it is an ideal time for and astute buyer to negotiate a GREAT deal on a lakeshore home!

Lakeshore opportunities are abundant in the Forest Lake area! There are more listings than ever before at incredible prices too! The inventory levels are awesome…49 lakeshore homes currently active. 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 shoreline!

Mid Year 2008 Forest Lake real estate statistics for single family homes:

Under $300,000~ 86 Active Listings, 6 Pending Listings, 38 Sold Listings, 164 DOM (Lakeshore Subgroup ~ 5 Active, 0 Pending, 0 Sold)

$300,000-$400,000 ~ 32 Active Listings, 2 Pending Listings, 8 Sold Listings, 175 DOM (Lakeshore Subgroup ~ 6 Active, 0 Pending, 0 Sold)

$400,000-$500,000 ~ 17 Active Listings, 0 Pending Listings, 4 Sold Listing, 138 DOM (Lakeshore Subgroup ~ 8 Active, 0 Pending, 3 Sold)

$500,000 and Up~ 35 Active Listings, 2 Pending Listings, 4 Sold Listings 231 DOM (Lakeshore Subgroup ~ 30 Active, 1 Pending, 4 Sold)

Lakeshore available in the Forest Lake area:

49 Active Listings, 1 Pending Listings, 7 Sold Listings

Forest Lake lakeshore price range: $210,900-$2,100,000

43 Homes on Forest Lake

3 Homes on Clear Lake

1 Home on Shields Lake

1 Home on Heims Lake
1 Home on Comfort Lake

**All 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 Forest Lake, Lakeshore and Minnesota that might be of interest:

Saturday, July 5, 2008

Wyoming, MN Real Estate Market Statistics Mid Year 2008

The City of Wyoming, Minnesota on the northeastern edge of the Twin Cities metropolitan area is a hidden gem! According to the city’s website the town was named after the first settlers who in 1855 relocated from the Wyoming Valley in Pennsylvania. Wyoming boasts its own police and fire departments, city utilities, library, hospital, elementary school and several community parks. Neighborhood shopping is great with a cute coffee shop, drug store and grocery store in the heart of the town.

Activities are abundant in Wyoming. Not only is the center of the community located smack dab on the walking/biking/snowmobile trail that runs along Hwy 61, there is the new Stars and Strikes bowling, laser tag, restaurant and meeting facility too. Several great fishing lakes are nearby including, Forest Lake, Coon Lake and Comfort Lake. Hunting is a favorite activity of many Wyoming residents as areas of Carlos Avery State Wildlife Management area are within its border. Wyoming Elementary is an integral part of the Forest Lake District 831 school district which provides community sports and activities for individuals of all ages.

Commuting into St. Paul or Minneapolis is a breeze from Wyoming as most residences are a within 3-5 minute drive to I35. The city is just 3 miles north of Forest Lake which is home to the NEW Park and Ride lot for an express commute to downtown Minneapolis.

Real estate in Wyoming, MN in southern Chisago County is still selling but it is selling slower than other areas in the metro. The cummulative Days on Market (DOM) Statistic for single family homes in Wyoming is 214 days or approximately 7 months. That is roughly 2 months longer than areas just to the south and west in Forest Lake, Ham Lake and Lino Lakes.
Inventory levels seem to be in line with surrounding communities for price points under $300,000 with about 16 months of inventory. But at higher price points, the inventory level is quite high which translates to approximately 4 years of inventory for Wyoming homes over $300,000, if sales continue at this slower pace.

The amazing deals on the homes in the Wyoming area reflect the changed market. The prices on many existing homes for sale in the Wyoming community have been cut drastically to entice buyers to drive just a little further north.

Mid Year 2008 Wyoming residential real estate statistics for single family homes:

Under $300,000 ~ 53 Active Listings, 5 Pending Listings, 19 Sold Listings, 201 DOM
$300,000-$400,000 ~ 16 Active Listings, 0 Pending Listings, 2 Sold Listings, 256 DOM
$400,000-$500,000 ~ 4 Active Listings, 1 Pending Listings, 0 Sold Listing, N/A DOM
$500,000 and Up ~ 4 Active Listings, 1 Pending Listings, 1 Sold Listings 417 DOM

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1 /1/08 through 6/30/08.

Featured Home in Wyoming MN (Pictured Above):
25797 Freeport Avenue, Wyoming, MN 55092

Articles on Wyoming, 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 terieckholm.com

Tuesday, July 1, 2008

Circle Pines & Lexington, MN Real Estate Market 2008 Mid Year Sales Statistics

Circle Pines is a small city, approximately 2 square miles, in Anoka County. The neighboring community, Lexington is even smaller encompassing less than one square mile of land. Both little communities are often overlooked since they are sandwiched between Blaine, Lino Lakes just to the north of Shoreview.

Circle Pines might be small but is thriving and has a unique history. According to Circle Pines and Lexington History, it was one of the first cooperative communities started in 1946 in an area between the townships of Blaine and Centerville in Southern Anoka County. According to the Circle Pines website, the symbol of the cooperative was a pine tree with a circle around it; thus the name Circle Pines. Though the unique development idea only lasted 3 years due to financial and leadership problems, the name remained. One benefit of its cooperative past is that Circle Pines is the only suburban city that operates its own natural-gas distribution company which serves part of Lino Lakes. The community is a part of the Centennial School District is home to Golden Lake and acres of wetlands.

Real estate in the communities of Circle Pines and Lexington is affordable and selling—though admittedly at a slower pace than most sellers would like. First half of 2008 numbers show area homes are staying on the market an average of 160 days. When broken down to single family homes versus townhomes/ condos, the single family homes have a 158 average CDOM while townhomes/condos are selling a bit more slowly with a 181 CDOM. Prices reductions on townhomes are drastic in this area due to the abundance of new construction in the neighboring community of Blaine. Amazing deals can be had for the astute first time condo home buyer.

The cumulative days on market numbers for Circle Pines are comparable favorably with other areas of the north metro like Blaine, Forest Lake, Lino Lakes and Ham Lake where homes had 1st quarter cumulative days-on-market rates (CDOM) ranging from 150 to over 200 days. (Links to statistical reports for these communities are listed below.)

Inventory levels of single family homes under $200,000 in Circle Pines are reasonable as most homes fit into that under $300K price catagory. Lower days on the market can be partially attributed to fewer high priced homes and the central location to the downtown areas. New construction townhomes in Lexington that have been on the market since 2005 also skew the DOM results.

2008 Mid Year Sales Statistics for Circle Pines residential real estate statistics for single family homes:

Under $200,000~ 15 Active Listings, 6 Pending Listings, 11 Sold Listings, CDOM 151

$200,000-$300,000 ~ 15 Active Listings, 4 Pending Listings, 5 Sold Listings, CDOM 140

$300,000-$400,000 ~ 0 Active Listings, 0 Pending Listings, 2 Sold Listings, CDOM 265

$400,000-$500,000~ 4 Active Listings, 0 Pending Listings, 0 Sold Listings

$500,000 and Up ~ 1 Active Listings, 0 Pending Listings, 0 Sold Listings

2008 Mid Year Sales Statistics for Circle Pines residential real estate statistics for townhomes and condos:

Under $200,000~ 24 Active Listings, 0 Pending Listings, 13 Sold Listings, CDOM 181

$200,000-$300,000 ~ 11 Active Listings, 0 Pending Listings, 0 Sold Listings

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/08 through 6/30/08.

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

Photo Featured Listing in Circle Pines Listing :401 Village Parkway, Circle Pines, MN 55014

Other Anoka County Listings:
601 86th Lane NW, Coon Rapids, MN 55433
15139 E Vermillion Circle NE, Ham Lake, MN 55304

Articles on Lakeshore and Minnesota that might be of interest:

Saturday, April 12, 2008

Ham Lake, MN Real Estate Market Statistics 1st Quarter 2008

Even though existing single family home sales in Ham Lake, Minnesota remained sluggish during the first quarter of 2008, there were some indications of better days ahead. The Days on Market (DOM) statistic was reduced slightly from 220 to 214. Conversely, homes in the higher price categories have been worse than stagnant. There is a complete lack of any sales at all! Only 2 in pending and one sold in the over $400,000 price category all quarter. With over 60 listings currently on the market, Ham Lake is over saturated with high end homes.

Under $400,000 there is some good activity. Currently there is about 10 months of inventory in this price category which is similar to other communities in the north and east suburbs of the Twin Cities. And if you look just at the homes under $300,000 the inventory level is even more promising with approximately 8 months of inventory on the market.

This presents a great opportunity for the move up buyer. If you have a starter home in good condition and well priced, it should sell in a decent time frame. These buyers then have quite a selection of homes to chose from in the higher price categories. After 300+ days on the market, many sellers are waiting to negotiate with a strong, non-contingent buyer!

Additional 1st Quarter Ham Lake residential real estate statistics for single family homes:

Under $300,000~ 35 Active Listings, 2 Pending Listings, 13 Sold Listings, DOM 195 (All existing homes)

$300,000-400,000 ~ 27 Active Listings, 5 Pending Listings, 5 Sold Listings, DOM 301 (New Construction Subgroup ~ 3 Active, 0 Pending, 0 Sold)

$400,000-$500,000 ~ 27 Active Listings, 0 Pending Listings, 1 Sold Listings, DOM 163 (New Construction Subgroup ~ 4 Active, 2 Pending, 0 Sold)

$500,000 and Up~ 36 Active Listings, 0 Pending Listings, 0 Sold Listings, DOM n/a (New Construction Subgroup ~ 7 Active, 0 Pending, 0 Sold)

Lakeshore available in the City of Ham Lake
5 Active Listings

Ham Lake lakeshore price range: $699,900-$1,450,000

2 Homes on Coon Lake
3 Homes on Lake Amelia

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/08 through 3/31/08.

Featured Listing in Ham Lake Minnesota: 15139 E Vermillion Circle NE

Articles on Ham Lake, Lakeshore and Minnesota that might be of interest:

Where's the Playground? A Key to Parks in Ham Lake Minnesota
What Makes a House a Home-Ham Lake, MN
Does "Minnesota Nice" Affect the Real Estate Market? "Yah, You Betcha!"
Dreaming of Life on MN Acreage?--What YOU Need to Know Before YOUR Move!
Affordable Minnesota Lakeshore

If you are buying, selling or relocating to Ham Lake, 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.

Friday, April 11, 2008

Forest Lake, MN Real Estate Market Statistics 1st Quarter 2008

Real estate in Forest Lake, MN in north Washington County and east Anoka County is still selling. Activity is up in the Forest Lake market as I can attest from the increased traffic at my open houses and my website. The Days on Market (DOM) Statistic for most homes show that many of the properties that did sell in first quarter were on the market for much of last year. Inventory is up in the under $300,000 price category and down in the over $500,000. Check fourth quarter statistics here. The reduction in inventory in the upper bracket has less to do with sales and more to do with timing as many lake homes were removed from the market. This is common as it is difficult to sell lakeshore properties in the winter when the shoreline is frozen.

The first quarter numbers show area homes are staying on the market an average of 287days, which is up considerably from the 166 DOM in the fourth quarter. The jump is probably due to the fact that few new listings come on during this time period and that the homes available had been on the market since early in 2007. We should see the average DOM go back down in the second and third quarters but only time will tell.

If we look at sold homes in the under $300,000 category for the first quarter alone, the absorption rate has skyrocketed from 10 months in 4th quarter to 20 months. But as January and February are historically slow this is likely not a trend. Using solds and pendings, the Forest Lake absorption rate is still approximately 9-10 months if all homes close.

High end home sales continue to struggle for sales. Only one home sold in the last 3 months, sellers in the $400,000-$500,000 price category skewing the DOM to two days. But compare and average with the 429 DOM for the $500,000 and up category, it is an average of 265 DOM for the higher priced Forest Lake homes.

Spring seems to always bring out new buyers and sellers. Hopefully it will be a year of negotiation as there is still plenty of housing inventory to work with. Great homes at amazing prices are out there on lakeshore and acreage properties. When the ice finally drops off the lakes, it might be the year to consider a lakeshore home!

Lakeshore opportunities are abundant in the Forest Lake area! I expect that more listings will return as soon as the ice is off the lake. There is still an amazing inventory of 44 lakeshore homes. 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 shoreline!

1st Quarter Forest Lake residential real estate statistics for single family homes:

Under $300,000~ 79 Active Listings, 13 Pending Listings, 13 Sold Listings, 254 DOM (Lakeshore Subgroup ~ 1 Active, 1 Pending, 2 Sold)

$300,000-$400,000 ~ 36 Active Listings, 4 Pending Listings, 4 Sold Listings, 278 DOM (Lakeshore Subgroup ~ 9 Active, 1 Pending, 3 Sold)

$400,000-$500,000 ~ 20 Active Listings, 1 Pending Listings, 1 Sold Listing, 2 DOM (Lakeshore Subgroup ~ 6 Active, 0 Pending, 1 Sold)

$500,000 and Up~ 32 Active Listings, 0 Pending Listings, 1 Sold Listings 497 DOM (Lakeshore Subgroup ~ 28 Active, 0 Pending, 1 Sold)

Lakeshore available in the City of Forest Lake

44 Active Listings, 2 Pending Listings, 7 Sold Listings

Forest Lake lakeshore price range: $279,900-$2,900,000

33 Homes on Forest Lake
7 Homes on Clear Lake
1 Home on Shields Lake
1 Home on Sylvan Lake
1 Home on Little Comfort Lake
1 Home on Neds Lake

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1 /1/08 through 3/31/08.

Articles on Forest Lake, Lakeshore and Minnesota that might be of interest:

Does "Minnesota Nice" Affect the Real Estate Market? "Yah, You Betcha!"
Dreaming of Life on MN Acreage?--What YOU Need to Know Before YOUR Move!
Affordable Minnesota Lakeshore
Relocating to Forest Lake MN? The Schools are Full of Ranger Pride!
Forest Lake High School Rangers are Pounding Nails Again—New Home Under Construction!
Forest Lake High School Rangers House Construction Project Complete—And Up for Bids!

If you are buying, selling or relocating to Forest Lake, 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 Teri Eckholm http://www.terieckholm.com/

Thursday, January 24, 2008

New Construction Down Considerably in the Twin Cities North Metro!

A 25% nationwide drop in construction was announced last week by the National Association of home builders. But as all real estate is local, wh

at does that mean to those of us living and working in the Twin Cities? Are the numbers the same? Better? Worse?

The answer is, it all depends on your location!

The Builders Association of the Twin Cities (BATC) issued a press release stating that there were 8.961 units permitted in 2007, down from 12,644 in 2006. This translates to a 29% decrease metro wide during the past year. Additional statistics are available showing building permits issued since 2005. Looking at the communities throughout Anoka County and the Forest Lake school district the numbers are significantly lower in most communities.

There were a few surprises but overall and not surprising. The big story is which communities have seen the lowest downturn in new home construction. Forest Lake has faired well with only a 40% decrease in construction. No doubt due to the Summerfield Development off of Highway 97.

Isanti having a big drop off in construction of -89% is not too surprising as it is in the outlying northern perimeter of the metro, Maplewood (-79%) and Stillwater (-89%) however are a different story. Both of these areas while more centrally located with higher demand have less space for big developments. Stillwater focus included more upscale high priced homes which haven’t faired in this changed market.

Similarily, most Ham Lake (-68%) new homes are well into the $400,000 price range. That in combination with being over 30 minutes from either downtown can be a reason for the higher than average building permit fall off. Andover (-62%) having some lower price point homes may have helped its percentage a bit.

Both Blaine (-54%) and Lino Lakes (-54%) are within that magic 30 minute drive time to the downtowns which maybe one reason that the drop off isn’t as bad as communities to the north. Both communities have a wide range of price options for new construction homes as well.

The good news in the sea of negative numbers is the gains for the City of St. Paul. With a whopping +21% increase since 2005, St. Paul has bragging rights.

Once again, the real estate mantra, Location, Location, Location, comes into play.

***********************************************************************************************************
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 Teri Eckholm http://www.terieckholm.com/

Disclaimer

This is a personal web site, reflecting the opinions of its author. It is not a production of my broker. Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not recommendations for real estate purchases. Nothing in this website shall be construed as an offer to purchase a home, sell a home or take any action whatsoever. Due to the nature of this blog/website, typographical errors and unintentional misstatements of fact may occur. In no event shall the publisher of this website and any affiliates be liable for any direct, indirect, punitive, incidental, special or consequential damages arising out of or in any way connected with the use of this blog/website, whether based on contract, tort, strict liability or otherwise.