The sold signs are going up faster on homes in the community of Forest Lake Minnesota in 2009 compared to 2008 but the amount they are getting for the homes is significantly less than previously. The average sales price of a home was down nearly 28% this past year for this north Washington County/east Anoka County community. One explanation; Frustrated sellers of high end lakeshore homes continue to wait for a sale as first time buyers scoop up deals on the lower end of the market in order to get the expiring tax credit. More closed sales means the inventory is down overall.
Looking for a breakdown of Forest Lake 2009 home sales by price point? CLICK HERE for Detailed Forest Lake Statistics
Looking for a breakdown of Forest Lake 2009 home sales by price point? CLICK HERE for Detailed Forest Lake Statistics
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Teri, I see many homes here still taking large reductions to get sold and a bunch of new forclosures.
Hi Teri,
Well done and each to understand.
You know looking at this one and another one of your reports it's so similar in activity and percentages as ours in So Cal. The only thing I see that different is that we're a little fewer days on the market.
Teri, looks like my information. Sales price keeps dropping, days on market is not getting that much better, and the high end homes are skewing the stats!
Gary--Not surprising as that is where the buyers seem to be these days.
Carole--It is a cross the country phenomena for certain.
Lynda--Thank you! I'd bet one of the only differences is the average sales price as I am certain it is a bit higher in your area but there are significant similarities in markets across the US.
Andrea--So many high priced homes on the market but so few buyers in this category in so many markets across the US.