Lino Lakes Market UpdateJuly 8, 2016
Lino Lakes Market Update:
Here are a few takeaway points from the last market update for Lino Lakes from May (data from the SPAAR Local Market Update for Lino Lakes – May 2016):
- The number of new listings increased in the month of May from 40 last year to 57 this year.
- The number of closed sales rose slightly from 30 to 33.
- The median sales price of a home rose sharply from $273,000 to $325,777.
- The year to date closed sales in (as of the end of May) increased 42.2% from 90 to 128.
- The months supply homes decreased from 4.6 to 3.1.
The real estate market in Lino Lakes is hot this summer with many more listings and many more sales than last year. Due to the decrease in inventory some may view this as a sellers market, however, the number of new listings (and anticipated new listings) should help even the scale making it a great opportunity to both buy and sell.
If you live in Lino Lakes and are thinking about selling give us a call and we can help you through the process to make it go as smoothly and seamlessly as possible.
If you are interested in purchasing a home in Lino Lakes, check out the homes for sale below!
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