Snapshot of Home Sales Statistics in Forest Lake, MN Year End 2013

By
Real Estate Agent with Boardman Realty Minnesota License#90858

 

Real estate sales statistics for the Forest Lake area have improved for the second year in a row. All major indicators improved in 2013 compared to 2012 and some quite significantly. New listings were up almost 21% but this didn’t push up inventory numbers since closed sales were up almost 30%. The additional inventory was absorbed by the rebounding market which pushed the average sales price up from just under $200K in 2012 to almost $216K in 2013. The lower inventory helped homes to sell more quickly too. Days on market in 2013 were down by almost 26%! The price per square foot statistic also saw a healthy increase to $108/sq ft which is an increase of nearly 12% from $97/square foot in 2012.

 

Closed sales and prices are good indicators of a stronger real estate market for sellers in the Forest Lake area as we head into the 2014 spring market. In fact, we are seeing a bit of a seller’s market, where sellers have the negotiating advantage. With continued low interest rates, home buyers have been searching for their dream homes even in subzero temperatures. 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 increased competition.

 

 

 


READY to Make a Move?

Posted by

Teri Eckholm. REALTOR with Boardman Realty, is a native Minnesotan who has lived and worked in the Minneapolis St Paul metro all of her life. She specializes in lakeshore homes, acreage properties and first time home buyers but assists anyone making a move in the north and east Twin Cities metro.

If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give Teri , a call or visit her website for a FREE Home Buyer Success Guide or FREE Home Value Report She specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2019 terieckholm.com

 

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