As in many other north and east Twin Cities metro communities, Lino Lakes has had a slight drop in the amount of closed sales in 2017. This is usually due to a lack of housing inventory as there has been a noticeable shortage of homes for sale across the Minneapolis/St Paul metro. However in Lino Lakes, new listings were up rather than down this past year. This anomaly is most likely attributed to the significant amount of new construction in this eastern Anoka County community.
This reflects in the increased average home sales price in which rose by a healthy 6.2% in 2017 to $313,829. Likewise, the average price per square footage also jumped 6.7% to $141/sq foot from an average of $131/sq foot in 2016. On average, it took approximately 2 months to sell a Lino Lakes, Minnesota home in 2017 and with over 500 sales, the housing market is strong in this Anoka County community. Even with the additional inventory, it appears to be a seller’s market as sellers received on average 98.2% of their asking price.
As we head into the spring market in Lino Lakes, home sellers need to be conscious of how their home compares to new construction in size, ascetics and price. This can present a challenge to selling quickly if not addressed properly when at the time of listing. Home buyers hoping to find their Lino Lakes dream home must be understand that while builders do not often negotiate on prices, sellers of existing homes might. Working with a professional real estate agent is the biggest asset whether buying or sellingto negotiate the best outcome.
Need more information on the Lino Lakes housing and real estate market? Message me on Facebook
This reflects in the increased average home sales price in which rose by a healthy 6.2% in 2017 to $313,829. Likewise, the average price per square footage also jumped 6.7% to $141/sq foot from an average of $131/sq foot in 2016. On average, it took approximately 2 months to sell a Lino Lakes, Minnesota home in 2017 and with over 500 sales, the housing market is strong in this Anoka County community. Even with the additional inventory, it appears to be a seller’s market as sellers received on average 98.2% of their asking price.
As we head into the spring market in Lino Lakes, home sellers need to be conscious of how their home compares to new construction in size, ascetics and price. This can present a challenge to selling quickly if not addressed properly when at the time of listing. Home buyers hoping to find their Lino Lakes dream home must be understand that while builders do not often negotiate on prices, sellers of existing homes might. Working with a professional real estate agent is the biggest asset whether buying or sellingto negotiate the best outcome.
Need more information on the Lino Lakes housing and real estate market? Message me on Facebook
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