Linwood real estate has been selling steadily throughout 2010 but the average sales price of homes took a bigger hit than in other Anoka County communities. New listings were down just a bit slightly and closed home sales were up by the same amount but a higher percentage. In 2009, Linwood was one of the very few north metro communities where the average sales price actually increased; albeit only 4% so a bigger drop in average price could reflect a leveling off. This rural Anoka County community featuring acreage and lakeshore properties is located just north of Columbus and south of Stacy, saw continued decrease in time on the market down just under 10% from 179 days in 2008 and 164 days in 2009 to 149 days for an average market time. Linwood’s home sellers are accepting offers a bit closer to list price too. The ratios of sales price to list price was 93.6% during 2010 which is good news after having one of the lowest ratios in the north metro for two years in a row.
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7 comments • Teri Eckholm, REALTOR® Anoka&Washington Counties Acreage & Lakeshore Homes • February 21 2011 07:33PM
Teri you always have the best photos to accompany your market reports. :)
Hi Teri,
Your inventory and the number of sales sure didn't change much between those two years. When it comes to the decline in average price, consumers need to know that's the average for closings for the month and not that sales a have dropped that much.
During the home buying tax credit our average also dropped, so many of our sales at that time were entry level, therefore lowering the average price.
Btw, is that a photo people from Linwood would recognize?
I love the photo Teri! Great job as usual reporting on the market in Linwood.
Cool photo! Your statistics didn't change too much over the 2 years. Have a great week!
Thanks for posting these, they really help give an idea of what is going on in your area.
Teri, looks like in your area as prices are coming down, buyers and sellers are settling for closer to list price. I wonder what 2011 will bring. Love the pizza guy.
Steve--Thanks! I appreciate you saying that! :)
Lynda--The sales price did drop dramatically in Linwood from 2009 to 2010 as this was an annual snapshot not just from Jan to Feb. Most communities are starting to see sales again but high value homes are not selling...so the average is based on the starter homes and foreclosure sales. We need our high value homes to sell to bring the average up. But there haven't been too many "move up" buyers during the past few years in the Twin Cities north metro.
AND yes, the Pizza guy welcomes people to Linwood Pizza on Cty Rd 22.
Lizette--I love this guy too...takes a great photo! :)
John--Thanks John...I appreciate you stopping by!
Rosario--Hopefully a few more higher valued homes start selling so the average price will increase a bit. :)