The housing market in Forest Lake has continued to stabilize and become stronger than in the past few years. New listings were down slightly which is similar to many communities. There just is a lack of inventory across the board which is one of the reasons for the significant decline in closed sales. The low inventory continued to drive prices up nearly 17% over the average price in 2013. The average sales price was over $250,000 which is quite significant as it was well under $200,000 just a few years ago. Days on market in 2012 were down a tad but homes still take over 3 months to sell in this area. Average price per square foot has continually risen for the past few years and was at $114/sq ft in 2014. This is comparable to other communities in the Washington County/east Anoka County area. High average sales prices and low inventory would give the market edge to sellers in the Forest Lake area as we head into the 2014 spring market.
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