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.
Real estate in Forest Lake, MN in north Washington County and east Anoka County has had a good first quarter for homes priced under $200,000. A total of 26 single family homes were sold in Forest Lake and Forest Lake Township during the first quarter of 2009. The Cumulative Days on Market (CDOM) Statistic ran at 165 days for all homes sold during the quarter which is equal to the CDOM of all of last year. In the first and second quarter of 2008, the CDOM was well over 211-286, so homes are continuing to sell at a faster pace as we start 2009.
Not surprisingly, the price category of under $200,000 is the high point of the year. With 19 listings sold with an average CDOM of just over 5 months, it appears buyers are out there shopping for homes under $200K. The $200,000-300,000 category has slowed a bit with only 3 homes sold but they sold quickly with a CDOM of 42 days. This statistic is more than likely skewed with the small number of sales. It appears that there is over 3 years worth of inventory in this price range but I think this will average out over the next few months.
It appears the high end homes will continue to struggle into 2009 with virtually no sales in prices over $500,000. The bulk of these properties are beautiful executive residences on Forest Lake's picturesque First Lake. 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 in 2009! There are more listings than ever before at incredible prices too! The inventory is awesome...35 lakeshore homes are currently active and some are at attractive and affordable price points. Many have been on the market for several months. With the amazing low interest rates and few high pricepoint buyers, it could be a great time to negotiate a deal on your piece of Forest Lake Minnesota shoreline!
First Quarter 2009 Forest Lake real estate statistics for single family homes:
Under $200,000~ 28 Active Listings, 11 Pending Listings, 19 Sold Listings, 158 CDOM (Lakeshore Subgroup ~ 1 Active, 1 Pending, 1 Sold)
$200,000-$300,000 ~ 46 Active Listings, 4 Pending Listings, 3 Sold Listings, 42 CDOM (Lakeshore Subgroup ~ 1 Active, 0 Pending, 0 Sold)
$300,000-$400,000 ~ 22 Active Listings, 2 Pending Listings, 2 Sold Listings, 394 CDOM (Lakeshore Subgroup ~ 6 Active, 1 Pending, 1 Sold)
$400,000-$500,000 ~ 9 Active Listings, 0 Pending Listings, 2 Sold Listing, 199 CDOM (Lakeshore Subgroup ~ 6 Active, 0 Pending, 2 Sold)
$500,000 and Up~ 24 Active Listings, 0 Pending Listings, 0 Sold Listings (Lakeshore Subgroup ~ 21 Active, 0 Pending, 0 Sold)
Lakeshore available in the Forest Lake area:
35 Active Listings, 2 Pending Listings, 4 Sold Listings
Forest Lake lakeshore price range:
- 30 Homes on Forest Lake
- 2 Homes on Clear Lake
- 1 Home on Shields Lake
- 1 Home on Howard Lake
- 1 Home on Comfort Lake
**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1 /1/09 through 3/31/09.
Click HERE to Search for Minnesota Lakeshore Home!
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!"
- Pictorial Essay of Signs of Spring in Forest Lake Minnesota
Home Sales Statistics for other communities in the north metro:
Forest Lake, MN Real Estate Market Statistics 2008 Year End Report
Snapshot of Ham Lake Year End 2008 Home Sales Statistics
Snapshot of Lino Lakes Year End 2008 Home Sales Statistics
Snapshot of Forest Lake Year End 2008 Home Sales Statistics
Snapshot of Hugo, MN Year End 2008 Home Sales Statistics
Snapshot of Columbus, MN 2008 Year End Home Sales Statistics
Snapshot of Wyoming, MN 2008 Year End Home Sales Statistics
Snapshot of White Bear Lake, MN Year End 2008 Home Sales Statistics
Snapshot of White Bear Township, MN Year End 2008 Home Sales Statistics
Snapshot of Linwood, MN Year End 2008 Home Sales Statistics
Snapshot of Chisago City, MN Year End 2008 Home Sales Statistics
If you are buying 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.
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