The housing market in White Bear Lake, Minnesota is booming. This northeast suburb of the Minneapolis/St. Paul metro area had less homes list but almost an equal number of sold in the year over year statistic from 2016. The effect on average price was a solid 4.5% increase. While not as impressive as the 8.8% increase the previous year, this was none the less a sign that home sellers in the White Bear Lake housing market is still remain in control when negotiating. In 2017, White Bear Lake homes sold for an average $245,347 and an average price per square foot $141/sq ft. Homes were selling at a faster pace in 2017 too, It took an average 43 days to sell in the city of White Bear Lake this past year. Sellers are in a strong negotiating position and offers are being accepted very close to the listed price. Last year sellers in the White Bear Lake area received an average of over 98% of asking price.
As we start 2018, housing inventory levels are very low for homes in the White Bear Lake area so it remains a seller’s market, giving the negotiating advantage to a home seller. With continued low interest rates, home buyers seeking their dream homes have started very early this year and homes listing now are getting showings and offers. Home owners wanting to take advantage of this strong market might want to list asap. There is a huge demand for affordably priced starter homes in the White Bear Lake Area! With home inventory is low, the negotiating edge goes to the seller but as more homes list in the spring, the market will level out a bit as we go toward summer.