White Bear Lake, Minnesota saw an increase in the amount of new homes listed on the market in 2013 compared to 2012 and closed sales shot up by almost 19%. In this northern Ramsey County city, the real estate market improved considerably in 2013. Prices rose in White Bear Lake going from and average of $161,950 in 2012 to $178,500 in 2013. This caused a good bump in the average price per square foot too going from $98/sq ft to $110/sq ft; a 12.5% increase. The average days-on-the-market statistic dropped substantially in 2013, going from 113 days on the market to 88 days. This is a welcome change as sellers are back in a better negotiating position and offers are being accepted closer to listed price. Last year sellers in the White Bear Lake area received an average of just under 95% of asking price.
As we start 2014, inventory levels are low for homes in White Bear Lake which is creating a bit of a seller’s market, where seller’s have the negotiating advantage. With continued low interest rates, home buyers have been searching for their dream home despite the bitter cold. Home owners considering selling in 2014 hoping to get the most leverage from the improved market should consider listing their homes before the spring market hits and there is more competition.
As we start 2014, inventory levels are low for homes in White Bear Lake which is creating a bit of a seller’s market, where seller’s have the negotiating advantage. With continued low interest rates, home buyers have been searching for their dream home despite the bitter cold. Home owners considering selling in 2014 hoping to get the most leverage from the improved market should consider listing their homes before the spring market hits and there is more competition.
READY to Make a Move?
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