55038 Current Market Insight (Hugo, MN/Lino Lakes, MN)

ARE YOU THINKING ABOUT BUYING OR SELLING A HOME IN THE 55038 (HUGO/LINO LAKES) ZIP CODE?

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

Here are some current MLS stats 55025:

• There are 125 properties currently listed for sale in 55038; 14 of these homes are distressed (short sale or foreclosure) and 12 of them are listed as waterfront property. 14 are new construction. New constructions homes are currently listed between $200,000 and $650,000.
• 16 of the homes for sale in 55038 have accepted contingent offers. 
• Additionally, 36 homes are pending sale (contingencies removed but haven't officially closed yet); 14 of these homes are townhouses/condos or twin homes.
• There are 37 townhouses on the market and 8 of them have accepted contingent offers. Of the 29 available townhouses, 8 are $150,000 or less. None are less than $109,900

Here are some more stats from the last year for 55038:

• 378 properties have sold (or are pending sale) in the last year. 209 of those were single family homes (the remaining were townhouses, condos, and twinhomes)
• 97 of these single family homes were between $200,00 and $300,000; 
• Of the 97 homes that sold in this price range: 
• 55 of those homes were built between 1990 and 2000
• 3 of those 55 homes were on 1-10 acres (23 homes with between 1 and 10 acres sold in the last year) 
• 199 homes (non-waterfront) sold for under $200,000. 50 of these homes were single family homes. 33 of those 199 homes were distressed sales. 
• 7 waterfront homes sold in the past year; 1 sold under $200,000.
• 48 homes sold for over $500,000
• 169 of the properties sold were townhouses. 38 of them sold for $125,00 or less but some new construction detached townhomes sold for as much at $573,654!

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