Twin Cities Real Estate: 55025 Current Market Insight (Forest Lake, MN)

Are you thinking about buying or selling a home in the 55025 (Forest Lake) zip code?

Here is the current market low down straight from the MLS (not from commonly inaccurate public websites).

There are 180 properties currently listed for sale in 55025; 9 of these homes are distressed (short sale or foreclosure) and 48 of them are listed as waterfront property. 38 are new construction. New constructions homes are currently listed between $200,000 and $650,000.
15 of the homes for sale in 55025 have accepted contingent offers.
Additionally, 25 homes are pending sale (contingencies removed but haven't officially closed yet); 6 of these home are waterfront properties.
There are 28 townhouses on the market and 4 of them have accepted contingent offers. Of the 24 available townhouses, 16 are $150,000 or less. None are less than $107,000

347 properties have sold (or are pending sale) in the last year. 266 of those were single family homes (the remaining were townhouses, condos, and twinhomes)
107 of these single family homes were between $200,00 and $300,000;
Of the 107 homes that sold in this price range,
27 of those homes were built between 1990 and 2000 (3 of these were lake homes)
10 of those 24 homes were on 1-10 acres (2 of these homes are still pending closing)
5 of these homes sold in the last 6 months.
141 homes (non-waterfront) sold for under $200,000. 82 of these homes were single family homes. 35 of those 141 homes were distressed sales.
6 waterfront homes sold under $200,000 and 2 of those were distressed sales.
More than half of the waterfront home that sold this past year were over $300,000
73 of the properties sold were townhouses. 39 of them sold for $150,00 or less but 4 of those townhouses sold for over $300,000

Want to know how these numbers affect your plans to buy, sell or invest in real estate? Call me or Email me!