Snapshot of Home Sales Statistics in Forest Lake, MN Year End 2015

By
Real Estate Agent with Boardman Realty Minnesota License#90858



At the end of 2015 there were only 2.5 months of inventory in the Forest Lake area for single family homes including all condos, townhomes and new construction. The housing market in Forest Lake is stable and stronger than has been in several years though it has come back slower than communities closer to the Minneapolis/St Paul metro.  New listings were up a substantial 13% from 2014 to 2015 and closed sales up a whopping 36.4%. This is most likely due to abundant new construction in the area. The continued lack of inventory throughout the metro has pushed buyers north but that has not had a significant effect on the sales price.  Prices in this north metro suburb were 2% under the average price in 2015 but home sellers have little to complain about as this is still well above a few years back when the average price was under $200,000. Days on market in 2015 were down a tad but it sellers still waited almost 3 months on average for a buyer. Average price per square foot rose from $114/sq ft in 2014 to $122/sq ft last year. This is comparable to other communities in the Washington County/east Anoka County area. Solid sales prices and low inventory would give a slight market edge to sellers in the Forest Lake area as we head into the 2015 spring market.

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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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Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Teri. Sounds like you have to be on your toes to get listings in Forest Lake and once had, they don't last lonng. Enjoy your day!

Feb 24, 2016 07:55 PM #1
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Teri Eckholm

REALTOR Serving Mpls/St Paul North & East Metro
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