Minnesota Real Estate Update: home sales statistics

Showing posts with label home sales statistics. Show all posts

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.

Sunday, January 18, 2009

Year End 2008 Snapshot of Hugo, MN Home Sales Statistics

While the number of new listings, closed sales and average sales price for h

omes in Hugo, Minnesota dropped between 10-14% in 2008 compared to the previous year, the biggest change was in time on the market. In this northern Ramsey and Washington County community, just north of White Bear Lake, home sales were an average of 40 days longer than in 2007; up statically by nearly 47%! Gas prices and a devastating tornado may have played a role. With the lower average sales price of a home in Hugo at $236,517, down just over 13%, a first time homebuyer can consider this community an affordable option once again.

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 or Homebuyers Success 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.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Friday, January 16, 2009

Year End 2008 Snapshot of White Bear Township, MN Home Sales Statistics

Home sales were pretty stable in White Bear Township, Minnesota in 2008

versus 2007. In this northern Ramsey County township has weathered 2008 much better than the neighboring City of White Bear Lake. Home sales dropped just 7.4% and the average sales price held at just over $265,000 down only 2.9%. The days-on-the-market (DOM) was up by only 3 days for the year. White Bear Township is fortunate to have experienced a somewhat stable market in 2008.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Year End 2008 Snapshot of White Bear Lake, MN Home Sales Statistics

Home sales took a bit of a hit in White

Bear Lake, Minnesota as home less homes closed for less dollars in 2008 versus 2007. In this Northern Ramsey County city home sales dropped just over 14% but inventory levels should stay the same as there were just over 13% newly listed homes too. The average sales price took a 20% hit as fewer homes over $250,000 are selling anywhere in the Twin Cities. Days on the market it up as it took over a month more time to sell a home in 2008 than in the previous year. With affordability up and prices and interest rates down, now is a great time to consider purchasing a White Bear Lake home.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Year End 2008 Snapshot of Ham Lake, MN Home Sales Statistics

Home sales did not fluctuate

significantly in Ham Lake, Minnesota a community synonymous with acreage properties. In this eastern Anoka County city home sales were flat with only two additional homes sold this year than in 2007. There were only a handful more homes listed too and the average days on the market rose only by six days from 178 to 184, not significant. The average price of a home sold did drop quite a bit however. It is 11.7% lower than in 2007 as it fell to under $300,000. All in all, the home sales market in Ham Lake, Minnesota appears somewhat stable.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Thursday, January 15, 2009

2008 Year End Snapshot of Columbus, MN Home Sales Statistics

Home sales did not fluctuate significantly in Columbus, Minnesota

which is well known for its acreage properties. In this Anoka County community, just west of Forest Lake, home sales were flat with only one additional home sold in 2008 over last year. There were only a few less homes listed so too and the average price of a home sold held relatively steady as well. Not all statistics were rosy for Columbus as it was taking significantly longer to sell a home in this community as compared to last year…over two months longer. All in all, the home sales market in Columbus, Minnesota appears relatively stable.

Buying a Home? Check out my new HOME BUYER'S BLOG!

2008 Year End Snapshot of Lino Lakes, MN Home Sales Statistics

The number of closed sales took a drastic drop in Lino Lakes, Minnesota in 2008. Over 25% fewer homes were sold last year in the Lino Lakes area than in 2007. The number of new listings is down as well along with the average price of a home sold. It took about a month longer to sell a home in Lino Lakes, Minnesota in 2008 compared to in 2007 but the Days on Market Statistic is still significantly lower than in some other north metro communities.. The average sales price for a home is down just over 14%. This probably reflects that more lower priced homes are selling than those at the higher price points as well as the flattening of home values. As in other Twin Cities north metro areas, affordability is up. If you are a home buyer looking for the right time to buy a Lino Lakes, this may be the best time in a long time to make your move!

Buying a Home? Check out my new HOME BUYER'S BLOG!

Thursday, January 8, 2009

Forest Lake, MN Real Estate Market Statistics Year End 2008

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. Though housing sales have slowed down considerably in many northern suburbs during the past few years due to continued concern of increased 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. A total of 125 single family homes were sold in Forest Lake and Forest Lake Township during 2008. The Cumulative Days on Market (CDOM) Statistic ran at 165 days for all homes sold during the year. In the first and second quarter the CDOM was well over 211-286, so at the end of the year homes started selling at a faster pace.

Not surprisingly, the price category of under $200,000 is the high point of the year. With 49 listings sold at an average CDOM of just under 4 months, it appears buyers are out there shopping for homes under $200K. It is a bit slower in the $200,000-300,000 category in this market, 6 months worth of inventory is very manageable.

All year, high end homes struggled for sales. In the second half of the year three times the number of homes sold in the $300,000-400,000 category than in the first six months. Sellers are becoming more realistic on pricing and inventory is starting to move. Homes over $500,000 have sales at a near standstill. Currently, the Forest Lake community sits with nearly 5 years of inventory in this price range and no relief appears to be in sight.

Great homes are currently on the market in Forest Lake at amazing prices; many are lakeshore and acreage properties. With this much inventory, sellers will need to be flexible on pricing. It might be the perfect time to negotiate a GREAT deal on a lakeshore home!

Lakeshore opportunities have been abundant in the Forest Lake area throughout 2008! There are more listings than ever before at incredible prices too! The inventory is awesome…40 lakeshore homes are currently active and some at attractive and affordable price points. Many have been on the market for several months. With the amazing low interest rates and few buyers looking at frozen lakeshore, it could be a great time to negotiate a deal on your piece of Minnesota shoreline!

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

Under $200,000~ 35 Active Listings, 8 Pending Listings, 49 Sold Listings, 118 CDOM (Lakeshore Subgroup ~ 0 Active, 2 Pending, 1 Sold)

$200,000-$300,000 ~ 35 Active Listings, 3 Pending Listings, 45 Sold Listings, 168 CDOM (Lakeshore Subgroup ~ 4 Active, 0 Pending, 2 Sold)

$300,000-$400,000 ~ 22 Active Listings, 1 Pending Listings, 19 Sold Listings, 240 CDOM (Lakeshore Subgroup ~ 6 Active, 0 Pending, 5 Sold)

$400,000-$500,000 ~ 10 Active Listings, 0 Pending Listings, 7 Sold Listing, 144 CDOM (Lakeshore Subgroup ~ 6 Active, 0 Pending, 2 Sold)

$500,000 and Up~ 27 Active Listings, 9 Pending Listings, 5 Sold Listings 349 CDOM (Lakeshore Subgroup ~ 24 Active, 0 Pending, 4 Sold)

Lakeshore available in the Forest Lake area:

47 Active Listings, 1 Pending Listings, 16 Sold Listings

Forest Lake lakeshore price range: $224,900-$2,100,000

35 Homes on Forest Lake
3 Homes on Clear Lake
1 Home on Shields Lake
1 Home on Howard Lake

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1 /1/08 through 12/31/08.

Articles on Forest Lake, 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!

Relocating to Forest Lake MN? The Schools are Full of Ranger Pride!

Think Now is a GREAT Time to Make a DEAL on a MN Lakeshore Home? You Are SO Right!

Lakeshore Market Statistics for Forest Lake, MN—Clear Lake & Forest Lake Sales

Does "Minnesota Nice" Affect the Real Estate Market? "Yah, You Betcha!"

Saturday, January 3, 2009

Blaine, MN Real Estate Market Statistics 2008 Year End

Blaine is expanding by leaps and bounds in the north metro of the Twin Cities over the past few years. Just drive down Highway 65 and see the Main Street (125th) overpass to get an idea of how the changes have affected the community. Though housing construction has slowed during 2008, it has not stopped. New developments have continued to expand the housing base, especially in the townhome and lower level price points. Conveniently located along 35W and Highway 65 and connected by Highway 10 just north of the Twin Cities, Blaine is an attractive location for both business and residential development. The community is served by three school districts; Anoka Hennepin District #11, Centennial District #12, and Spring Lake Park District #16. Blaine is best known for the National Sports Center a sport and meeting facility that hosts an annual worldwide soccer event and Tournament Players Club golf course where the PGA Senior tour is played every summer.

Builders’ incentives to home buyers have required home sellers to be very competitive with housing prices making homes in the Blaine area extremely affordable. I predict this affordability to continue throughout 2009. Home sales slowed at year end but overall the year was not bad for lower priced homes. Single family homes under $400,000 and townhomes/condos under $200,000 were the bright spot selling at averages of 132-146 Cumulative Days on Market (CDOM). Single family homes are selling faster than townhomes/condos with lower average CDOMs in all price points. The overall CDOM statistic at 154 for Blaine compares favorably with other areas in the north metro such as Forest Lake, Lino Lakes and Ham Lake.

Last year, homes in Blaine were selling a bit faster than other areas of Anoka County but the slowdown in existing sales seems to have overtaken this community as well. Buyers looking at single family homes under $300,000 in Blaine currently have an inventory of nearly 200 homes to choose from. At a rate of 28 per month sold, the inventory is manageable. Looking at current inventory levels and the rate of sales for single family residential homes priced under $300,000, there is about 7 months of inventory as it stands today. This attrition rate is holding steady with rates seen earlier this year.

Higher price new construction homes are selling even better than earlier this year as they now account for nearly 50% of total sales up from 33% at mid year. Traditional home sellers need to better compete with the extremely attractive builder incentives in order to get their homes sold.

The townhome and condominium market has exploded in Blaine and builders have pulled out all the stops bringing pricing down. There is considerably less new construction townhome inventory on the market with about 18 months of inventory compared with nearly 3 years of inventory in 2007. Existing townhome sellers still must make their prices very attractive even though some of the builders’ inventory is down. Townhomes under $300,000 have a manageable inventory level but over $300,000, the inventory level is approaching 2 years.
2008 Average Sales Price of all homes sold in Blaine:

All Homes $225,300

Single Family Homes $253,143

Townhomes/Condos $171,218

2008 Average Cummulative Days on Market in Blaine:

All Homes.........................154

Single Family Homes......150

Townhomes/Condos....... 162

Year End Blaine residential real estate statistics for single family homes:
Under $200,000~ 107 Active Listings, 15 Pending Listings, 184 Sold Listings, 138 CDOM
$200,000-300,000~88 Active Listings, 9 Pending Listings, 160 Sold Listings, 142 CDOM (New Construction Subgroup 13 Active, 1 Pending, 15 Sold, 151 CDOM)
$300,000-$400,000 ~ 52 Active Listings, 6 Pending Listings, 74 Sold Listings, 133 CDOM (New Construction Subgroup 23 Active, 2 Pending, 28 Sold, 152 CDOM)
$400,000-$500,000 ~ 21 Active Listings, 1 Pending Listings, 35 Sold Listings, 245 CDOM (New Construction Subgroup 6 Active, 1 Pending, 16 Sold, 204 CDOM)
$500,000-$1,000,000~ 40 Active Listings, 2 Pending Listings, 20 Sold Listings, 295 CDOM (New Construction Subgroup 13 Active, 1 Pending, 11 Sold, 297 CDOM)
$1,000,000 and Up ~2 Active Listings, 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 1 Active, 0 Pending, 0 Sold)
Year End Blaine residential real estate statistics for townhomes and condos:
Under $200,000~ 110 Active Listings, 10 Pending Listings, 196 Sold Listings, 146 CDOM (New Construction Subgroup 22 Active, 1 Pending, 18 Sold, 40 CDOM)
$200,000-300,000~19 Active Listings, 2 Pending Listings, 38 Sold Listings, 213 CDOM (New Construction Subgroup 11 Active, 1 Pending, 15 Sold, 151 CDOM)
$300,000-$400,000 ~ 10 Active Listings, 0 Pending Listings, 5 Sold Listings, 325 CDOM (New Construction Subgroup 9 Active, 0 Pending, 0 Sold )
$400,000-$500,000 ~6 Active Listings, 0 Pending Listings, 2 Sold Listings, 166 CDOM (New Construction Subgroup 5 Active, 0 Pending, 0 Sold)
$500,000-$1,000,000~ 1 Active Listings, 0 Pending Listings, 2 Sold Listings, 202 CDOM (New Construction Subgroup 1 Active, 0 Pending, 0 Sold)
For additional information on any current Blaine real estate listing or for additional information on buying a home in Blaine 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 1/1/08 through 12/30/08.
Articles on Real Estate, Lakeshore and Minnesota that might be of interest:

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

Inspection, Pre-Inspection, Truth-In-Housing and Disclosures? What Does a Seller Need to Sell a Home?

EXTREMELY Affordable Minnesota Lakeshore!

First Time Homebuyers ARE Getting Deals on Foreclosures in MN!

Does "Minnesota Nice" Affect the Real Estate Market? "Yah, You Betcha!"

Lakeshore Market Statistics for Forest Lake, MN—Clear Lake & Forest Lake Sales

Saturday, July 26, 2008

Coon Rapids, MN Real Estate Market Statistics Mid-Year 2008

In spite of the real estate slow down Coon Rapids continues to evolve as it has for over 150 years. It has changed from the community’s humble beginnings of a dirt road farm community to the 9th largest city and 5th largest suburb in the state of Minnesota. The affects of the real estate market change on Coon Rapids is tempered by its convenient location to downtown Minneapolis and its easy access to Interstate 35, Hwy 65 and Hwy 47/10 for a commute to a lakeside cabin. Coon Rapids is a community with something for everyone: encompassing 23 square miles it boasts several neighborhood and regional parks, indoor and outdoor ice skating rinks, softball and baseball fields, tennis courts, hiking and biking trails, swimming pools, a golf course, and two major regional shopping

developments.

Like its neighbors Blaine and Andover, the residential real estate construction boom in Coon Rapids during the past decade has slowed but not stopped making new and existing home purchase opportunities very affordable. Conveniently between Anoka and Blaine, it is connected by Highway 10 just north of the Twin Cities, Coon Rapids is an attractive location for both business and residential development. The entire community of Coon Rapids is served by one school district; Anoka Hennepin District #11.

Real estate in Coon Rapids, MN in Anoka County is affordable and selling—though admittedly at a slower pace than most sellers would like. In the first six months of 2008, numbers show single family homes are staying on the market an average of 143 cumulative days or just under 5 months. But when broken down to single family homes versus townhomes/ condos, the single family homes have a 127 average CDOM while townhomes/condos are taking nearly two months longer with a 180 CDOM.

Cumulatively inventory levels of single family homes in Coon Rapids are selling in a reasonable timeframe and approximately 9-10 months of inventory. Inventory levels for homes under $200,000 are a much more manageable 7 months. While the total town homes and condos in all price ranges are struggling high inventory levels that won’t sell out for 18 months if no more properties are listed.

As Coon Rapids’ real estate is for the most part moderately priced, it should adjust to the changed market relatively quickly but its significant condo/townhome market will take time to recover as it continues to compete with new townhome developments in the neighboring communities such as Blaine.
1st Quarter Coon Rapids residential real estate statistics for single family homes:

Under $200,000~ 160 Active Listings, 15 Pending Listings, 131 Sold Listings, CDOM 115

$200,000-$300,000 ~ 126 Active Listings, 6 Pending Listings, 59 Sold Listings, CDOM 132

$300,000-$400,000 ~ 31 Active Listings, 1 Pending Listings, 15 Sold Listings, CDOM 210

$400,000 and up ~ 14 Active Listings, 0 Pending Listings, 3 Sold Listings, CDOM 190

1st Quarter Coon Rapids residential real estate statistics for townhomes and condos:

Under $200,000~ 207 Active Listings, 15 Pending Listings, 82 Sold Listings, CDOM 170

$200,000-$300,000 ~ 33 Active Listings, 2 Pending Listings, 7 Sold Listings, CDOM 296

$300,000-$400,000 ~, 6 Active Listings, 0 Pending Listings, 0 Sold Listings, CDOM N/A

**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.

Other Real Estate Articles that might be of interest:

· Does "Minnesota Nice" Affect the Real Estate Market? "Yah, You Betcha!"
· 5 GREAT Reasons Minnesota Townhomes Make an Easy Transition from Apartment Life!
· First Time Home Buyer in Anoka County, MN? Low Interest Loans Available!
· Is NOW the Time to Consider a Minnesota Townhome? You Betcha!
· Forest Lake, MN Real Estate Market Statistics Mid Year 2008
· Ham Lake, MN Real Estate Market Statistics Mid Year 2008
· Wyoming, MN Real Estate Market Statistics Mid Year 2008

Featured Townhome Listing in Anoka County:
601 86th Lane NW, Coon Rapids, MN

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

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.

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