In this northern Washington County community, just east of White Bear Lake, new listings were up in 2011 which was very unusual for most other north and east communities in the Twin Cities metro. They were not only up but up significantly, by over 36%. Likewise, home sales were up by well over 50% in 2011 and the average sales price was up just a bit. This is an indication of the start of recovery for the Mahtomedi area but only time will tell if the trend will continue into 2012. As this is the second year in a row for a somewhat stable market in Mahtomedi, it is apparent that the bulk of the distressed properties have worked their way out of this community. Sellers are getting just under 91% of their asking price and the average sales price is holding steady at just over $295,000. Time on the market to sell a home, rose somewhat significantly to 143 days and the price per square foot fell 5% to $117. Both statistics are comparable to other surrounding communities. It appears that the Mahtomedi real estate market continues to move toward becoming balanced.
For additional details on home sales in Mahtomedi MN at the end of 2011, Click HERE.
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