Like much of the real estate in the Minneapolis/St. Paul area, Lino Lakes, MN in Anoka County has seen reduced inventory and increased market times in 2009. This year nearly twice as many properties sold but the average selling price was directly affected by the bank owned and lender mediated properties on the market. Traditional homes had longer market times but properties were selling throughout the Lino Lakes area.
Though 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.
The year end numbers for Lino Lakes sales show area homes were selling slower than last year with an average of 170 cumulative days on the market (CDOM) for sold properties compared with 160 CDOM in 2008. But current inventory levels are much lower than last year. Looking at homes priced under $300,000, there is about 4-5 months of inventory. This time last year, there were nearly 12 months of inventory in this price category.
And the lower inventories are also in higher price points too. Based on the year end statistics, it will now take about 6 months to sell the current inventory of homes with a $300,000-$400,000 price tag. This is down considerably in Lino Lakes from last year when the inventory level hovered around the 12 month mark for absorption. In the $400,000-$500,000 we are just under that one year time period for absorption while over half a million homes there is about 3 YEARS of inventory. While this is not ideal, it is certainly with in the norm when compared to surrounding Anoka County areas.
2009 Average Sales Price of all homes sold in Lino Lakes:
All Homes $229,622
Single Family Homes $251,780
Townhomes/Condos $150,266
2009 Average Cumulative Days on Market in Lino Lakes:
All Homes 170
Single Family Homes 174
Townhomes/Condos 150
4th Quarter Lino Lakes residential real estate statistics for single family homes:
Under $200,000~ 10 Active Listings, 3 Pending Listings, 49 Sold Listings, 155 CDOM
$200,000-$300,000 ~ 32 Active Listings, 3 Pending Listings, 57 Sold Listings, 180 CDOM
$300,000-$400,000 ~ 16 Active Listings, 2 Pending Listings, 33 Sold Listings, 192 CDOM
$400,000-$500,000 ~ 9 Active Listings, 0 Pending Listings, 10 Sold Listings, 167 CDOM
$500,000 and Up~ 11 Active Listings, 0 Pending Listings, 4 Sold Listings, 262 CDOM
Year End 2009 Lino Lakes residential real estate statistics for townhomes and condos:
Under $200,000~ 23 Active Listings, 6 Pending Listings, 39 Sold Listings, 143 CDOM
$200,000-300,000~5 Active Listings, 0 Pending Listings, 2 Sold Listings, 258 CDOM
$300,000-$400,000 ~ 0 Active Listings, 0 Pending Listings, 2 Sold Listings, 165 CDOM
Lakeshore available in Lino Lakes
3 Active Listings
Lino Lakes lakeshore price range: $595,000-$1,118,000
1 Home on Amelia Lake
2 Homes on Reshanau Lake
Acreage properties available in Lino Lakes
16 properties listed on 1-3 Acres priced between $126,000-$595,000.
7 properties listed on 5-10 Acres priced between $300,000-$805,000
1 property listed on 29 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 1/1/09 through 12/31/09.
More Anoka County Articles 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!
- Extremely Affordable Minnesota Lakeshore!
- It Passed! Details on the Extended and Expanded Tax Credit for Homebuyers
- Could it be the WINTER to Move Up to a Bigger House? YES!!
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..JPG)
Buying a Home? Check out my HOME BUYER'S BLOG!
Copyright 2010 Teri Eckholm http://www.terieckholm.com/
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Teri -- A very nice recap. It certainly looks like there are some good signs that the housing market is recoverying
Hi Teri, Happy New Year t you and entire family. Wow, that was interesting. It takes a few minutes to digest . # years of inventory , does not sound like a good thing Could be worse I suppose. At least there are sales and they look OK. The big inventory just keeps prices depressed a bit.
Teri, Not the best reports but homes are selling...and I think this early cold winter had something to do with the drop off of sales. Perhaps in the Spring or at least when it warms up a bit more people will be out and seriously looking.
So many markets are seeing similar statistics with prices at very low levels and interest rates so low it is a great time to be a buyer.
Joan--It is much better in many places in the Twin Cities' north metro...but we have a ways to go still in the higher price points.
William--We are fortunate in MN to have many homes in affordable price ranges. The high-ticket homes are the ones continuing to struggle. Hopefully the momentum will continue after the tax credit expires and some of the mid-range sellers will buy up. Time will tell as there is a lot of inventory in the over half million price range compared to the number of buyers in this market.
Carole--Things are looking so much better in Lino Lakes that it has in the last two years....positive trends but still very slow sales in the very high prices.
Terry&Bonnie--It is a great time to be buying! Prices are very low in comparison to what people paid just a few years ago....Choices are still plentiful.