The Linwood Pizza Man finally has a reason to smile! The Linwood real estate market in southeast Anoka County is starting to see a bit of a recovery with modest homes sales in the first half of the year. Under $300,000 pricepoints have a current inventory level of less than 6 months but home sales for properties priced over $300,000 remain sluggish. Per the Minneapolis Area Association of Realtors monthly market activity report, sales for the Twin Cities metro area were up 13.8% through June 2012 compared with sales in the first half of 2011. The average home price rose 7.2%. CLICK HERE for a pdf of all statistics.
This mid-2012 update for Linwood real estate reflects a market that is starting to build a bit of momentum with roughly double the homes being sold and a modest increase in average prices as compared to mid-2011. The days on market (DOM) is just over 4 months overall but with few sales in the upper valued homes, that remains a bit misleading. Though existing home inventory is moderately high in the upper price range, homes are selling much better in the lower price ranges. There were very only a couple of homes sold in prices above the $300,000 price in Linwood during the first half of 2012. Homes in Linwood are staying on an average of 131 days and the average home sold for $158,864 about $8000 higher than it was at this time last year in the Linwood area. The average price per square foot for all homes sold was $88; up only slightly from $87/sq ft for mid-year 2011. But once again, the average was $49/sq ft for homes priced under $100,000 but $126/sq ft for homes priced in the $200,000-$300,000 category. It is very important to realize that when factoring in the distressed properties like foreclosure and short sales, prices it will skew the average for the entire community. This is not an accurate number to use as a comparison when trying to determine an estimated value of a home that is being sold by a traditional seller.
**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/12 through 6/30/12.
Statistics of current single family residential market activity in the Linwood area for the first half of 2012.
Under $100,000~ 3 Active Listings, 4 Pending Listings, 6 Sold Listings; Average Cumulative Days on Market for Sold Listings: 66
$100,000-200,000 ~ 6 Active Listings, 3 Pending Listings, 13 Sold Listings; Average Cumulative Days on Market for Sold Listings: 122
$200,000-$300,000 ~ 17 Active Listings, 4 Pending Listings, 7 Sold Listings; Average Cumulative Days on Market for Sold Listings: 166
Over $300,000~ 5 Active Listings, 1 Pending Listings, 1 Sold Listings; Average Cumulative Days on Market for Sold Listings: 270
Lakeshore available in Linwood:
Great opportunities for all price points to live on the lake in Linwood. Options include a very cute, bank-owned home on Fawn Lake for $85K, a turn-key log cabin on Martin Lake for under $230K and a stylish estate on Linwood Lake for just under $400K. All extremely affordable and less than 45 minutes from either downtown.
Linwood Lakeshore Statistics:
6 Active Listings, 3 Pending Listings, 3 Sold Listings during first half of 2012.
Active Linwood lakeshore price range: $ 85,000-$399,900.
1 Home on Fawn Lake
1 Home on Linwood Lake
2 Homes on Martin Lake
1 Home on Skunk Lake
1 Home on Typo Lake
Articles on Lakeshore and Minnesota that might be of interest:
- Relocating to Forest Lake MN? The Schools are Full of Ranger Pride!
- Dreaming of Life on MN Acreage?--What YOU Need to Know Before YOUR Move!
- Affordable Minnesota Lakeshore
Looking for a home in Linwood on Acreage or Lakeshore?
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