Forest Lake, MN Real Estate Market Statistics First Quarter 2009

By
Real Estate Agent with REMAX Specialists Minnesota License#90858

Forest Lake, Minnesota is well known throughout the Twin Cities area. Many people from the city remember the northeast St. Paul suburb fondly from years gone by as a summer vacation spot, an annual ice fishing tournament tradition or as a destination when going for a Sunday a drive in the country. Today, the lakeside cabins have been replaced with year round residences, the fishing tourney is but a memory and the farms are few and far between in this third ring St. Paul suburb.

Steam Train Art in Forest Lake by Teri Eckholm, RealtorReal estate in Forest Lake, MN in north Washington County and east Anoka County has had a good first quarter for homes priced under $200,000. A total of 26 single family homes were sold in Forest Lake and Forest Lake Township during the first quarter of 2009. The Cumulative Days on Market (CDOM) Statistic ran at 165 days for all homes sold during the quarter which is equal to the CDOM of all of last year. In the first and second quarter of 2008, the CDOM was well over 211-286, so homes are continuing to sell at a faster pace as we start 2009.

Not surprisingly, the price category of under $200,000 is the high point of the year. With 19 listings sold with an average CDOM of just over 5 months, it appears buyers are out there shopping for homes under $200K. The $200,000-300,000 category has slowed a bit with only 3 homes sold but they sold quickly with a CDOM of 42 days. This statistic is more than likely skewed with the small number of sales. It appears that there is over 3 years worth of inventory in this price range but I think this will average out over the next few months.

It appears the high end homes will continue to struggle into 2009 with virtually no sales in prices over $500,000. The bulk of these properties are beautiful executive residences on Forest Lake's picturesque First Lake. Currently, the Forest Lake community sits with nearly 5 years of inventory in this price range and no relief appears to be in sight.

Great homes are currently on the market in Forest Lake at amazing prices; many are lakeshore and acreage properties. With this much inventory, sellers will need to be flexible on pricing. It might be the perfect time to negotiate a GREAT deal on a lakeshore home!

Lakeshore opportunities have been abundant in the Forest Lake area in 2009! There are more listings than ever before at incredible prices too! The inventory is awesome...35 lakeshore homes are currently active and some are at attractive and affordable price points. Many have been on the market for several months. With the amazing low interest rates and few high pricepoint buyers, it could be a great time to negotiate a deal on your piece of Forest Lake Minnesota shoreline!

First Quarter 2009 Forest Lake real estate statistics for single family homes:

Under $200,000~ 28 Active Listings, 11 Pending Listings, 19 Sold Listings, 158 CDOM (Lakeshore Subgroup ~ 1 Active, 1 Pending, 1 Sold)

$200,000-$300,000
~ 46 Active Listings, 4 Pending Listings, 3 Sold Listings, 42 CDOM (Lakeshore Subgroup ~ 1 Active, 0 Pending, 0 Sold)

$300,000-$400,000 ~ 22 Active Listings, 2 Pending Listings, 2 Sold Listings, 394 CDOM (Lakeshore Subgroup ~ 6 Active, 1 Pending, 1 Sold)

$400,000-$500,000 ~ 9 Active Listings, 0 Pending Listings, 2 Sold Listing, 199 CDOM (Lakeshore Subgroup ~ 6 Active, 0 Pending, 2 Sold)

$500,000 and Up~ 24 Active Listings, 0 Pending Listings, 0 Sold Listings (Lakeshore Subgroup ~ 21 Active, 0 Pending, 0 Sold)

Lakeshore available in the Forest Lake area:

35 Active Listings, 2 Pending Listings, 4 Sold Listings

Forest Lake lakeshore price range:

$199,000-$2,100,000

  • 30 Homes on Forest Lake
  • 2 Homes on Clear Lake
  • 1 Home on Shields Lake
  • 1 Home on Howard Lake
  • 1 Home on Comfort Lake

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1 /1/09 through 3/31/09.

Click HERE to Search for Minnesota Lakeshore Home!

Articles on Forest Lake, Lakeshore and Minnesota that might be of interest:

Home Sales Statistics for other communities in the north metro:

Forest Lake, MN Real Estate Market Statistics 2008 Year End Report
Snapshot of Ham Lake Year End 2008 Home Sales Statistics
Snapshot of Lino Lakes Year End 2008 Home Sales Statistics
Snapshot of Forest Lake Year End 2008 Home Sales Statistics
Snapshot of Hugo, MN Year End 2008 Home Sales Statistics
Snapshot of Columbus, MN 2008 Year End Home Sales Statistics
Snapshot of Wyoming, MN 2008 Year End Home Sales Statistics
Snapshot of White Bear Lake, MN Year End 2008 Home Sales Statistics
Snapshot of White Bear Township, MN Year End 2008 Home Sales Statistics
Snapshot of Linwood, MN Year End 2008 Home Sales Statistics
Snapshot of Chisago City, MN Year End 2008 Home Sales Statistics

If you are buying or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet, Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. I 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.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Copyright 2009 Teri Eckholm http://www.terieckholm.com/

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Teri Eckholm. REALTOR with RE/MAX Specialists, 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 2014 www.terieckholm.com

 

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Show All Comments
Rainmaker
185,089
League City, TX - Worrell Team, REALTORS, GRI, CNE
Bayou Properties Realty - League City, TX

Teri... glad to see all is well up there.  How many real estate agents cover Washington County?  And do you sell anything other than single family?  I loved the bit of history of the area at the beginning... worlds away from my own, and fun to hear about!

April 02, 2009 10:29 PM #1
Ambassador
1,269,779
William Johnson
RE/MAX Associates - San Diego, CA
San Diego Real Estate Voice, GRI CRS e-Pro CDPE

Hi Teri, Spring is here for s and will be there for you soon and with it , I predict you will see a flurry of new buyers ( higher than just the 200k range) and that by years end we will look back and say " what crisis". You know  I am an optimist but I actually think this will come about. I am sending you good thoughts and high energy.

PS, I wrote my two year annniversary post ( not finished as yet but I mentioned you), but with working from early morning to late at night,  I can only get a break long enough to try to get a few comments in. Been a very busy two weeks. Things will stabilize soon and  I will be back to only working 10 hours instead of 16.

April 02, 2009 11:30 PM #2
Anonymous
Anonymous
Anonymous

Teri, yeah you there are pending sales.  Good for all realtors in area.  Have a great and successful weekend.

April 03, 2009 12:27 AM #3
Rainmaker
604,503
Teri Eckholm
REMAX Specialists - White Bear Lake, MN
Acreage & Lakeshore REALTOR Minneapolis St Paul

Brian--Hundreds of agents in Washington County. These statistics are only for the Forest Lake community in the north metro. There are a few condos/townhouses in the area but the bulk of the sales activity is in the single family home and lakeshore homes. In communities like, Blaine where the townhome market is much more active, I will pull out that information rather than lakeshore. Glad you enjoyed.

April 03, 2009 08:59 AM #4
Rainmaker
604,503
Teri Eckholm
REMAX Specialists - White Bear Lake, MN
Acreage & Lakeshore REALTOR Minneapolis St Paul

William--I have been doing less reading and commenting myself. It takes time and the leads from my blog and the Growth Leader program have been keeping me busy as well. I will be stopping over to read your 2 year post. Thanks for your comments...Always appreciated! :)

April 03, 2009 09:01 AM #5
Rainmaker
604,503
Teri Eckholm
REMAX Specialists - White Bear Lake, MN
Acreage & Lakeshore REALTOR Minneapolis St Paul

Lynn--Homes are selling in the first quarter. That is a very good thing for the agents and the community as a whole. Would love to see more movement in the upper brackets. Lots of lakeshore available now...well priced too!

April 03, 2009 09:03 AM #6
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Rainmaker
604,503

Teri Eckholm

Acreage & Lakeshore REALTOR Minneapolis St Paul
Looking to buy or sell in the Twin Cities? Contact Me Today!
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