Forest Lake, Minnesota Real Estate Statistics Jan-May 2017

 
Many people throughout the Minneapolis/St. Paul area have fond memories of Forest Lake, Minnesota as a family summer vacation spot, an annual ice fishing tournament tradition or as a destination when going for a Sunday a drive in the country. Today, the lakeside cabins have been replaced with year round residences and the fishing tourney is but a memory. While there still is an agricultural presence, the farms, barns and silos are few and far between these days. The northern Washington County and east Anoka County community of Forest Lake is now considered an integral part of the Twin Cities. 

Real estate in Forest Lake, MN sold quickly in the five months of  2017 especially in the lower price points. A total of 133 properties sold in the Forest Lake Area since January 1. Roughly 75% of these sales were single family homes, 103 properties, while the other 30 were townhomes, condos or twin homes. 

The Cumulative Days on Market (CDOM) Statistic was approximately 81 days for all homes sold during the first five months this year. The average time on the market was 40 days for homes priced under $200K. This is indicative of the need for entry level, starter priced inventory. The average price of a home sold in Forest Lake was $285,071 so far in 2017. Prices paid ranged from a modest $65,500 to $770,000. 

The bulk of homes are selling in the price category range from $200,000 to $400,000 83 of the 133 sold.  Inventory remains low in this area with 117 homes currently active but 25 of those are currently under contract with an offer leaving a modest 92 homes for sale.

Surprisingly, high end homes and lakeshore homes are not lingering on the market. 14 Homes over $500,000 are in pending or have SOLD in the Forest Lake area since January 1. Most of the homes in this price point are on lakeshore. This is good news that lake front properties have made a significant come back in the Forest Lake area. Demand for homes on the shore is up. 
 
What does this mean for the Forest Lake home buyer? Homes are affordable and selling well in Forest Lake in 2017. Homebuyers looking to purchase in this area will need to make quick decisions when well priced and maintained homes come on the market. Lakeshore and acreage properties priced between $200,000 and $400,000 seem to sell the most quickly so it is important to be prepared to buy when the right property comes onto the market (i.e. get that pre-approval letter BEFORE looking at homes!)

A buyer looking to purchase high-end lakeshore in the Forest Lake area, needs to be ready to negotiate! Homes that are well maintained and priced well, even if  high-end lakeshore, are selling quickly and at close to asking. However, as we approach the July 4th weekend, existing homes sales tend to slow a bit as people are busy with vacations, graduations and weddings. SUMMER could be the perfect time to negotiate a GREAT deal on a lakeshore home! The inventory is awesome…22 lakeshore homes are currently active; some are at attractive and affordable price points. This could be a great time to negotiate a deal on your piece of Minnesota shoreline.

2017 Jan-May Average Sales Price of all homes sold in Forest Lake:

• All Homes $280,918
• Single Family Homes $303,575
• Townhomes/Condos $203,129

2017 Jan-May Average Cumulative Days on Market in Forest Lake:

• All Homes 82
• Single Family Homes 94
• Townhomes/Condos 41

31 Active Lakeshore available in the Forest Lake area:

Price range: $199,900-$2,800,000

• 26 Homes on Forest Lake
• 3 Homes on Clear Lake
• 2 Home on Sylvan

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

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1 /1/17 through 5/31/17.

Have more questions about your selling your Anoka County home? Ask Me! I Can Help!

Need More Ideas Home Selling Tips? If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me, Teri Eckholm of BOARDMAN Realty, a call or visit my website for a FREE Home Buyer Success Guide or FREE Home Value Report. 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 2017 terieckholm.com

Forest Lake, MN Real Estate Market Statistics Mid Year 2010

Forest Lake, Minnesota is well known throughout the Twin Cities area. Many people from the city remember the northeast St. Paul suburb fondly from years gone by as a summer vacation spot, an annual ice fishing tournament tradition or as a destination when going for a Sunday a drive in the country. Today, the lakeside cabins have been replaced with year round residences, the fishing tourney is but a memory and the farms are few and far between in this third ring St. Paul suburb. The northern Washington County and east Anoka County community of Forest Lake is now considered an integral part of the Twin Cities.

Real estate in Forest Lake, MN sold a bit faster during the second quarter compared to the first. A total of 110 properties sold in the Forest Lake Area between January and June compared to 45 being sold prior in the first three months of the year. Of these homes, 68 properties, were single family homes while the other 42 were townhomes, condos or twin homes.

Not surprisingly, the price category of under $200,000 is the high point the bulk of homes sold during the first half of 2010 (78 properties sold with 39 Single family homes and 39 townhomes/condos). The $8000 tax credit really made an impact in the Forest Lake market as the first time buyer homes under $200,000 are not staying on the market for very long. It will be interesting to see if this momentum continues, though it seems doubtful based on early pending sales results for May and June since the credit expired.

High end homes continue to struggle though the first half of 2010. Homes over $500,000 remain are at a complete standstill with zero homes sold in the over half a million price category in the Forest Lake area during this time period. Add that to the one home sold in all of 2009 and it will is difficult to calculate an absorption rate. As most lakeshore homes fall into this category, there is an abundance of high valued lakeshore homes to select from in the Forest Lake area. With one sold in the past 18 months and 24 active listings over $500,000, it will DECADES for all the homes to sell if sales continue at this rate.

What does this mean for the home buyer? Homebuyers in 2010 looking for homes under $200,000 will have to make quick decisions on homes in Forest Lake that appear to be good values. Lakeshore and acreage properties priced under $500,000 seem to be attractive to buyers and selling quickly again, so it is important to be prepared to buy when the right property comes onto the market.

A buyer looking to purchase high-end lakeshore in the Forest Lake area, is at the wheel in the captain’s chair in 2010! With so much inventory, high-end lakeshore sellers must to be flexible on pricing if they want to be the house with the SOLD sign on their yard this summer! NOW might be the perfect time to negotiate a GREAT deal on a lakeshore home! The inventory is awesome…Over 50 lakeshore homes with are currently active in the Forest Lake area; some are at very attractive and affordable price points. Many have been on the market for several months; some have been on the market for years. With the continued low interest rates may never be a better time to negotiate a deal on your piece of Minnesota shoreline!Mid Year Average Sales Price of all homes sold in Forest Lake:
All Homes $175,317

Single Family Homes $207,204
Townhomes/Condos $125,208

Mid Year 2010 Average Cumulative Days on Market in Forest Lake:
All Homes 167
Single Family Homes 180

Townhomes/Condos 146

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

Under $200,000~ 48 Active Listings, 7 Pending Listings, 39 Sold Listings, 123 CDOM (Lakeshore Subgroup ~ 0 Active, 0 Pending, 0 Sold)

$200,000-$300,000 ~ 60 Active Listings, 7 Pending Listings, 19 Sold Listings, 200 CDOM (Lakeshore Subgroup ~ 9 Active, 1 Pending, 1 Sold, 50 CDOM)

$300,000-$400,000 ~ 24 Active Listings, 0 Pending Listings, 4 Sold Listings, 210 CDOM (Lakeshore Subgroup ~ 8 Active, 2 Pending, 2 Sold, 86 CDOM)

$400,000-$500,000 ~ 15 Active Listings, 0 Pending Listings, 6 Sold Listing, 408 CDOM (Lakeshore Subgroup ~ 5 Active, 0 Pending, 3 Sold, 493 CDOM)

$500,000-$1,000,000~ 19 Active Listings, 0 Pending Listings, 0 Sold Listings (Lakeshore Subgroup ~ 19 Active, 0 Pending, 0 Sold)

$1,000,000 and Up~ 5 Active Listings, 0 Pending Listings, 0 Sold Listings (Lakeshore Subgroup ~ 5 Active, 0 Pending, 0 Sold)

Mid Year 2010 Forest Lake residential real estate statistics for townhomes and condos:

Under $200,000~ 35 Active Listings, 11 Pending Listings, 39 Sold Listings, 121 CDOM

$200,000-300,000~9 Active Listings, 0 Pending Listings, 3 Sold Listings, 200 CDOM

$300,000-$400,000 ~ 4 Active Listings, 0 Pending Listings, 0 Sold Listings

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

54 Active Lakeshore Properties available in the Forest Lake area:

Price range $225,000-$4,995,000

44 Homes on Forest Lake
6 Home on Clear Lake
2 Homes on Comfort Lake
1 Home On Shields Lake
1 Home On Sylvan Lake

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/10 through 6/30/10.

Copyright 2010 Teri Eckholm h

Forest Lake, MN Real Estate Market Statistics 1st Quarter 2010

Forest Lake, Minnesota is well known throughout the Twin Cities area. Many people from the city remember the northeast St. Paul suburb fondly from years gone by as a summer vacation spot, an annual ice fishing tournament tradition or as a destination when going for a Sunday a drive in the country. Today, the lakeside cabins have been replaced with year round residences, the fishing tourney is but a memory and the farms are few and far between in this third ring St. Paul suburb. The northern Washington County and east Anoka County community of Forest Lake is now considered an integral part of the Twin Cities.

Real estate in Forest Lake, MN was still selling close to pace with 2009 in first quarter of 2010 especially in the lower price points. A total of 45 properties sold in the Forest Lake Area between January and March. Of these homes, 28 properties, were single family homes while the other 17 were townhomes, condos or twin homes.

The Cumulative Days on Market (CDOM) Statistic ran at 160 days for all homes sold during the year so it was only slightly higher for first quarter 2010 at 161 CDOM. Once again, the average price of homes did see a significant drop from in the first quarter of 2010 The average price of a home sold in Forest Lake was $176,776 in 2009 but in the first quarter of 2010, that average is now $158,756 which is another 10% lower.

Not surprisingly, the price category of under $200,000 is the high point with 35 properties sold during the first quarter of 2010 (19 Single family homes and 16 townhomes/condos). The $8000 tax credit really made an impact in the Forest Lake market as the first time buyer homes under $200,000 are not staying on the market for very long. Inventory is manageable under $200,000 with about 6 months of currently listed homes available for sale. Inventory levels are rising in other price points as homes in the $200,000-400,000 categories have exploded again to over 3 year’s worth of inventory. In the $400,000-500,000 price range, homes have seen drop in inventory levels to where there is about 18 month’s worth of inventory.

However, as for the past few years, the high end homes continue to struggle into 2010. Homes over $500,000 remain are at a complete standstill with zero homes sold in the over half a million price category in the Forest Lake area during the first quarter of 2010. Add that to the one home sold in all of 2009 and it will is difficult to calculate an absorption rate. As most lakeshore homes fall into this category, there is an abundance of high valued lakeshore homes to select from in the Forest Lake area. With one sold in the past 15 months and 34 active listings over $500,000, it will over four DECADES for all the homes to sell if sales continue at this rate.

What does this mean for the home buyer? Home buyers in 2010 looking for homes under $200,000 will have to make quick decisions on homes in Forest Lake that appear to be good values. Lakeshore and acreage properties priced under $500,000 seem to be attractive to buyers and selling quickly again, so it is important to be prepared to buy when the right property comes onto the market.

A buyer looking to purchase high-end lakeshore in the Forest Lake area, is in the driver’s seat in 2010! With so much inventory, high-end lakeshore sellers must to be flexible on pricing if they want to be the house with the SOLD sign on their yard this summer! NOW might be the perfect time to negotiate a GREAT deal on a lakeshore home! The inventory is awesome…34 homes with are currently active in the Forest Lake area; some are at attractive and affordable price points. Many have been on the market for several months; some have been on the market for years. With the continued low interest rates it could be a great time to negotiate a deal on your piece of Minnesota shoreline!

First Quarter Average Sales Price of all homes sold in Forest Lake:

· All Homes $158,756

· Single Family Homes $182,822

· Townhomes/Condos $119,118

First Quarter Average Cumulative Days on Market in Forest Lake:

· All Homes 161

· Single Family Homes 146

· Townhomes/Condos 186

First Quarter Forest Lake real estate statistics for single family homes:

Under $200,000~ 41 Active Listings, 11 Pending Listings, 19 Sold Listings, 105 CDOM (Lakeshore Subgroup ~ 0 Active, 0 Pending, 0 Sold)
$200,000-$300,000~ 67 Active Listings, 3 Pending Listings, 5 Sold Listings, 134 CDOM (Lakeshore Subgroup ~ 1 Active, 1 Pending, 0 Sold)

$300,000-$400,000 ~ 20 Active Listings, 2 Pending Listings, 2 Sold Listings, 174 CDOM (Lakeshore Subgroup ~ 7 Active, 0 Pending, 0 Sold)

$400,000-$500,000 ~ 13 Active Listings, 0 Pending Listings, 2 Sold Listing, 535 CDOM (Lakeshore Subgroup ~ 5 Active, 0 Pending, 2 Sold)

$500,000 and Up~ 32 Active Listings, 0 Pending Listings, 0 Sold Listings (Lakeshore Subgroup ~ 34 Active, 0 Pending, 0 Sold)

Year End 2009 Forest Lake residential real estate statistics for townhomes and condos:

Under $200,000~ 30 Active Listings, 11 Pending Listings, 16 Sold Listings, 187 CDOM

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

$300,000-$400,000 ~ 4 Active Listings, 0 Pending Listings, 0 Sold Listings

For additional information on any current Forest Lake real estate listing or for additional information on buying a home in Forest Lake contact Teri Eckholm/ REMAX Specialists directly at 651-336-7073.

35 Active Lakeshore available in the Forest Lake area:

Price range: $175,000-$2,300,000

43 Homes on Forest Lake

1 Home on Clear Lake

2 Homes on Comfort Lake

1 Home On Shields Lake

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/10 through 3/31/10.

Copyright 2010 http://www.terieckholm.com/

Forest Lake MN Real Estate Market Statistics 3rd Quarter 2009

Forest Lake, Minnesota is well known throughout the Twin Cities area. It was a favorite summer vacation spot, an annual ice fishing tournament tradition or as a destination when going for a Sunday a drive in the country in days gone by. Today, the lakeside cabins have been replaced with year round residences, the fishing tourney is but a memory and the farms are few and far between in this third ring St. Paul suburb.
Real estate in Forest Lake, MN in north Washington County and east Anoka County has seen homes priced under $200,000 continue to sell in the 3rd quarter which is consistent with most of the Twin Cities area. A total of 24 single family homes priced under $200K were sold in Forest Lake and Forest Lake Township during this time period. This is a 50% increase in unit sales from the previous quarter. The Cumulative Days on Market (CDOM) Statistic was again slightly lower than the previous quarter with 126 CDOM compared to 129 CDOM in the 2nd quarter. This is quite a bit better than what was seen in the first half of 2008 when the CDOM ranged from 211-286. This surge in home sales in the lower price points is almost certainly a result of the $8000 first time homebuyer tax credit.
It appears the high end homes will continue to struggle into 2009 with only 2 homes sold over $400,000. Obviously, there weren’t too many first time buyers looking at homes in THIS price range. And as most of the homes sold in the lower price points were foreclosures or vacant homes, there wasn’t the “move-up” activity seen in a normal market. When the lower value home sold in the past, a family generally moved to a larger more valuable home. Not the case in this market…and the statistics in Forest Lake back this scenario up. Forest Lake continues to have about 5-6 YEARS of lakeshore and executive home inventory…much of it on the very desirable Forest Lake's picturesque First Lake.
With this abundance of inventory, some sellers have aggressively priced their home to sell. Facing another winter with an empty home is not an option many home sellers want to consider so it is now a great time for buyers to get deals. There are a few beautiful homes are currently on the market in Forest Lake at amazing prices; many are lakeshore and acreage properties. With this much inventory, motivated sellers will need to be flexible on pricing.
There are 45 active lakeshore homes for sale in the Forest Lake area and some are at attractive and affordable price points. Many have been on the market for several months; some over a year. With the amazing low interest rates and few high-end buyers, it could be a great time to negotiate a deal on your piece of Forest Lake Minnesota shoreline!
3rd Quarter 2009 Forest Lake real estate statistics for single family homes:
Under $200,000~ 34 Active Listings, 10 Pending Listings, 24 Sold Listings, 126 CDOM (Lakeshore Subgroup ~ 0 Active, 1 Pending, 2 Sold)
$200,000-$300,000 ~ 56 Active Listings, 8 Pending Listings, 9 Sold Listings, 207 CDOM (Lakeshore Subgroup ~ 7 Active, 1 Pending, 0 Sold)
$300,000-$400,000 ~ 32 Active Listings, 4 Pending Listings, 4 Sold Listings, 87 CDOM (Lakeshore Subgroup ~ 4 Active, 2 Pending, 0 Sold)
$400,000-$500,000 ~ 13 Active Listings, 0 Pending Listings, 3 Sold Listing, 306 CDOM (Lakeshore Subgroup ~ 8 Active, 0 Pending, 1 Sold)
$500,000 and Up~ 38 Active Listings, 0 Pending Listings, 1 Sold Listings, 306 CDOM (Lakeshore Subgroup ~ 26 Active, 0 Pending, 1 Sold)
Lakeshore available in the Forest Lake area:
45 Active Listings, 4 Pending Listings, 4 Sold Listings
Forest Lake lakeshore price range:
$259,000-$2,600,000
41 Homes on Forest Lake
1 Homes on Clear Lake
2 Home on Comfort Lake1 Home on Shields Lake
**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 7 /1/09 through 9/30/09.

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