White Bear Lake, MN Real Estate Market Statistics 2011 to End of 3rd Quarter--Including Lakeshore Homes Available

Just about everyone who grew up in the Twin Cities north and east metro is familiar with the White Bear Lake community. Whether your memories are of passing the iconic gigantic snow white bear statue at Polar Chev, swimming at Bellaire beach or setting sail across White Bear Lake, everyone seems to know something about the community. But few know the legends that surround the lake and that Manitou Island is at the center of it all. The legend has been documented by several writers but the most notable was 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. There is no doubt that 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. But there are two other lakes in the City of White Bear Lake: Birch Lake and Goose Lake as well as Bald Eagle Lake in White Bear Township. This town is the home of the White Bear Lake School District #624 and Century College while encompassing 11 square miles of land. Real estate opportunities include both historic homes and 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.

Overall the market in White Bear Lake seems to be okay. However, the average sales price of homes is lower this year than in 2010 and cumulative days on the market (CDOM) is up. By the end of 3rd quarter, inventory has started to decrease. No doubt this has less to do with sales and more to do with people taking lakeshore of the market as winter approaches. There is roughly 3 months of inventory of single family homes and 6 months of townhome/condo inventory for homes listed under $200,000. While in the higher price points, it will take 9-12 months to absorb the current inventory, if no additional homes were listed. There is still a good selection of homes in  every price point as the end of 2011 approaches. This is great news for anyone considering a purchase now. Combine the low interest rates, lower sales prices on homes with a strong inventory will give the advantage to the home buyer.

2011 to end of 3rd Quarter Average Sales Price of all homes sold in White Bear Lake:

2011 to end of 3rd Quarter Average Cumulative Days on Market in White Bear Lake:

2011 to end of 3rd Quarter White Bear Lake residential real estate statistics for single family homes:

Under $200,000~ 71 Active Listings, 2 Pending Listings, 172 Sold Listings, 142 CDOM (Lakeshore Subgroup 1 Active, 0 Pending, 1 Sold, 13 CDOM)

$200,000-300,000~38 Active Listings, 2 Pending Listings, 62 Sold Listings, 152 CDOM (Lakeshore Subgroup 5 Active, 1 Pending, 2 Sold,  419 CDOM)

$300,000-$400,000 ~ 14 Active Listings, 1 Pending Listings, 13 Sold Listings, 138 CDOM (Lakeshore Subgroup 4 Active, 0 Pending, 1 Sold, 37 CDOM)

$400,000-$500,000 ~ 8 Active Listings, 0 Pending Listings, 6 Sold Listings, 320 CDOM (Lakeshore Subgroup 2 Active, 0 Pending, 7 Sold, 222 CDOM)

$500,000-$1,000,000~ 21 Active Listings, 0 Pending Listings, 8 Sold Listings, 254 CDOM (Lakeshore Subgroup 12 Active, 0 Pending, 1 Sold, 488 CDOM)

$1,000,000 and Up ~ 12 Active Listings, 0 Pending Listings, 2 Sold Listings, 499 CDOM (Lakeshore Subgroup 9 Active, 0 Pending, 1 Sold, 471 CDOM)

2011 to end of 3rd Quarter  White Bear Lake residential real estate statistics for townhomes and condos:

Under $200,000~ 43 Active Listings, 0 Pending Listings, 64 Sold Listings, 220 CDOM

$200,000-300,000~ 8 Active Listings, 0 Pending Listings, 8 Sold Listings, 162 CDOM

$300,000-$400,000 ~ 7 Active Listings, 0 Pending Listings, 4 Sold Listings, 344 CDOM

$400,000-$500,000 ~ 0 Active Listings, 0 Pending Listings, 0 Sold Listings

$500,000-$1,000,000~ 2 Active Listings, 0 Pending Listings, 3 Sold Listings, 383 CDOM

$1,000,000 and Up ~ 0 Active Listings, 0 Pending Listings, 0 Sold Listings

Lakeshore available in the White Bear Lake area 45 Active Listings

White Bear Lake lakeshore price range: $244,900-$3,200,000

12 Homes on Bald Eagle Lake

2 Homes on Birch Lake

1 Home on Big Pond Lake

1 Home on Goose Lake

1 Home on Otter Lake

1 Home on Varney Lake

16 Homes on White Bear Lake

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/11 through 9/30/11 for all properties sold in the 55110 zip code.

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.