Just about everyone who grew up in the Twin Cities north metro is familiar with the White Bear Lake community. Whether your memories are of passing the iconic gigantic white bear statue at Polar Chevrolet, swimming at Bellaire beach or setting sail across White Bear Lake, everyone in the north and east Twin Cities metro area seems to know the community. But I doubt that many know the legends that surround the lake and that Manitou Island is at the center of it all. I noticed awhile back that as you enter the City of White Bear Lake you are welcomed by a sign announcing you are entering White Bear Lake, the city of Lakes and Legends. So what is this legend? The story has been documented by several writers but the most notable was the infamous storyteller, Mark Twain who wrote of the Indian warrior who killed the great monster of a polar bear to save himself and his lover in his book, “Life of the Mississippi”.
Legends aside, today the White Bear Lake community is a vibrant area that is continually growing while preserving its rich heritage. While the shores of White Bear Lake are the most well known as one of the largest lakes in the north metro as it spreads from Ramsey County into Washington County , there are two other lakes in the community: Birch Lake and Goose Lake. The community is home to White Bear Lake School District #624 and Century College encompassing 11 square miles of land. Real estate opportunities include both historic homes and more recently constructed residences. First time buyers, executive home buyers, retiring downsizers and luxury lakeshore buyers have a wide variety of options if the choose to call White Bear Lake home.
The average sales price of homes in White Bear Lake is up about 3.5% ($193,671 versus $186,735 in 2009) and overall cumulative days on the market are down almost 7% (136 compared 146 in 2009). These are good indicators that the market is stabilizing somewhat in the community of White Bear Lake. However, inventory is almost double what it was at this time last year for the under $200,000 homes. There was a big demand in this price point with the expiring tax credit. However the inventory is still manageable with an approximate 6 months absorption rate.
Higher priced inventory is down and sales are not completely stagnate but still much slower than a few years ago. There is about a year's worth of inventory in price points over $400,000. The inventory of lakeshore homes is also down in the White Bear Lake area. There are still options in several price points but lakeshore sellers in the higher price points don’t appear to have budged on their pricing too much. There is an opportunity out there for those interested in lakeshore in the White Bear community.
2010 Average Sales Price of all homes sold in White Bear Lake:
- All Homes $193,671
- Single Family Homes $203,576
- Townhomes/Condos $151,799
2010 Average Cumulative Days on Market in White Bear Lake:
- All Homes 136
- Single Family Homes 131
- Townhomes/Condos 156
Year End White Bear Lake residential real estate statistics for single family homes:
Under $200,000~ 65 Active Listings, 12 Pending Listings, 116 Sold Listings, 107 CDOM (No Lakeshore)
$200,000-300,000~ 27 Active Listings, 2 Pending Listings, 53 Sold Listings, 132 CDOM (Lakeshore Subgroup 2 Active, 0 Pending, 2 Sold, 88 CDOM)
$300,000-$400,000 ~ 8 Active Listings, 0 Pending Listings, 8 Sold Listings, 205 CDOM (Lakeshore Subgroup 0 Active, 0 Pending, 1 Sold, 205 CDOM)
$400,000-$500,000 ~ 4 Active Listings, 1 Pending Listings, 4 Sold Listings, 420 CDOM (Lakeshore Subgroup 2 Active, 1 Pending, 2 Sold, 591 CDOM)
$500,000-$1,000,000~ 4 Active Listings, 0 Pending Listings, 4 Sold Listings, 358 CDOM (Lakeshore Subgroup 4 Active, 0 Pending, 3 Sold, 465 CDOM)
$1,000,000 and Up ~ 4 Active Listings, 0 Pending Listings, 1 Sold Listings, 357 CDOM (Lakeshore Subgroup 4 Active, 0 Pending, 1 Sold, 357 CDOM)
Year End White Bear Lake residential real estate statistics for townhomes and condos:
$200,000-300,000~ 18 Active Listings, 0 Pending Listings, 4 Sold Listings, 238 CDOM
$300,000-$400,000 ~ 4 Active Listings, 0 Pending Listings, 3 Sold Listings, 205 CDOM
$400,000-$500,000 ~ 0 Active Listings, 0 Pending Listings, 1 Sold Listings, 156 CDOM
$500,000-$1,000,000~ 1 Active Listings, 0 Pending Listings, 0 Sold Listings
$1,000,000 and Up ~ 1 Active Listing, 0 Pending Listings, 0 Sold Listings
For additional information on any current White Bear Lake real estate listing or for additional information on buying a home in White Bear Lake contact Teri Eckholm directly at 651-336-7073.
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