White Bear Lake saw a huge drop in the amount of closed sales in 2010 compared to 2009 but the good news is the average sales price is up a bit. In this northern Ramsey County city, home sales dropped just over 26%! Inventory levels could be on the rise as the percentage of new listings was quite a bit less (5.5%) and so there is abundant inventory in 2010. The average days-on-the-market statistic was down by 4.4% so homes are continue to sell faster in White Bear Lake as this adds to the 10% drop in DOM in 2009. Sellers are seeing their offers come in a bit closer to asking price as the percent to original price ratio did increase by over 3% in 2010 Traditional sellers considering a move up in White Bear will continue to see opportunities as there are less good starter homes listing now but many higher valued homes to select from. For additional breakdowns by price point in the White Bear Lake area CLICK HERE.
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Hi Teri,
Good info for home byers and sellers for White Bear Lake. And I'm surprised at the drop in the number of sales year over year. This sounds a little different from some of your other reports.
Teri you always do a wonderful job presenting the stats for the White Bear Lake area!
Teri - Hopefully that sales prices will continue to rise in White Bear Lake.
Lynda--I was surprised too but many of the lower priced homes did sell before the tax credit expired so the inventory was low in the lower price points which may have caused the drop. Sales were up considerably in the previous year...may have robbed Peter to pay Paul so to speak.
Bill--Thanks! So glad you enjoyed reading!
Steve--Yes it is nice to see some positive results in the average sales price for a change...even if it is a small increase.