White Bear Lake, MN

Like most other communities in the north east Twin Cities metro, White Bear Lake has seen more closed sales but at lower prices in 2009 compared to 2008. In this Northern Ramsey County city home sales dropped just over 16%; that's almost 30% over a two year period! Inventory levels are going down as there are just slightly less (4.1%) of new listings that came onto the market this past year. The average days-on-the-market statistic is down by 10% so homes are starting to sell faster in White Bear Lake. The bulk of sales has been in the lower price points as nearly 67% of all homes closed in 2009 were sold for less than $200,000. Another 27% were sold for prices in the $200,000-$300,000 range. Traditional sellers considering a move up in White Bear have an opportunity this year as there are so few starter homes but many higher valued homes to select from. For additional breakdowns by price point in the White Bear Lake area CLICK HERE.

Just about everyone who grew up in the Twin Cities north metro is familiar with the White Bear Lake community. Whether your memories are of passing the iconic gigantic white bear statue at Polar Chev, swimming at Bellaire beach or setting sail across White Bear Lake, everyone seems to know the area. But few know the legends that surround the lake and that Manitou Island is at the center of it all. The legend has been documented by several writers but the most notable was Mark Twain who wrote of the Indian warrior who killed the great monster of a polar bear to save himself and his lover in his book, "Life of the Mississippi".

Legends aside, today the White Bear Lake community is a vibrant area that is continually growing while preserving its rich heritage. While the shores of White Bear Lake are the most well known as one of the largest lakes in the north metro as it spreads from Ramsey County into Washington County , there are two other lakes in the community: Birch Lake and Goose Lake. The community is home to White Bear Lake School District #624 and Century College encompassing 11 square miles of land. Real estate opportunities include both historic homes and more recently constructed residences. First time buyers, executive home buyers, retiring downsizers and luxury lakeshore buyers have a wide variety of options if the choose to call White Bear Lake home.

Single family home inventory levels are at very manageable levels in the City of White Bear Lake. In the price category under $200,000, there is under 3 months worth of homes currently listed as we start January. There is just under 6 months of absorption for homes priced from $200,000-$300,000, while it will take just over a year to sell all the homes listed in the $300,000-$500,000 price range. Things are not quite so rosy for the beautiful lakeshore and executive homes in the half-million plus category. At the current rate of sales, it will take over 3 years before all of the current listings sell .

White Bear Lake townhomes are selling a slightly slower pace. There is just under a 6 month absorption rate for townhomes and condos priced under $200,000 while it will take about a year to sell the current inventory of homes in the $200,000-$400,000 range. But high-end townhomes and condos are in the same predicament as with single family homes as they have about 3 years of inventory to sell through at the current rate of sales.

2009 Average Sales Price of all homes sold in White Bear Lake:

All Homes $186,735
Single Family Homes $192,195
Townhomes/Condos $150,823

2009 Average Cumulative Days on Market in White Bear Lake:

All Homes 146
Single Family Homes 133
Townhomes/Condos 153

Year End White Bear Lake residential real estate statistics for single family homes:

Under $200,000~ 36 Active Listings, 11 Pending Listings, 161 Sold Listings, 112 CDOM (Lakeshore Subgroup 0 Active, 0 Pending, 1 Sold, 246 CDOM)

$200,000-300,000~34 Active Listings, 2 Pending Listings, 67 Sold Listings, 162 CDOM (Lakeshore Subgroup 2 Active, 0 Pending, 2 Sold, 301 CDOM)

$300,000-$400,000 ~ 11 Active Listings, 1 Pending Listings, 8 Sold Listings, 214 CDOM (Lakeshore Subgroup 1 Active, 1 Pending, 1 Sold, 325 CDOM)

$400,000-$500,000 ~ 3 Active Listings, 0 Pending Listings, 4 Sold Listings, 149 CDOM (Lakeshore Subgroup 2 Active, 0 Pending, 0 Sold)

$500,000-$1,000,000~ 8 Active Listings, 0 Pending Listings, 3 Sold Listings, 118 CDOM (Lakeshore Subgroup 7 Active, 0 Pending, 1 Sold, 13 CDOM)

$1,000,000 and Up ~5 Active Listings, 0 Pending Listings, 1 Sold Listings, 901 CDOM (Lakeshore Subgroup 5 Active, 0 Pending, 1 Sold, 901 CDOM)

Year End White Bear Lake residential real estate statistics for townhomes and condos:

Under $200,000~ 24 Active Listings, 2 Pending Listings, 54 Sold Listings, 188 CDOM

$200,000-300,000~ 6 Active Listings, 0 Pending Listings, 5 Sold Listings, 351 CDOM

$300,000-$400,000 ~ 3 Active Listings, 1 Pending Listings, 5 Sold Listings, 198 CDOM

$400,000-$500,000 ~ 4 Active Listings, 0 Pending Listings, 1 Sold Listings, 708 CDOM

$500,000-$1,000,000~ 1 Active Listings, 0 Pending Listings, 1 Sold Listings, 52 CDOM

For additional information on any current White Bear Lake real estate listing or for additional information on buying a home in Blaine contact Teri Eckholm directly at 651-336-7073.

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/09 through 12/30/09.

Articles on Real Estate, Lakeshore and Minnesota that might be of interest:

• It Passed! Details on the Extended and Expanded Tax Credit for Homebuyers
• Could it be the WINTER to Move Up to a Bigger House? YES!!
• Inspection, Pre-Inspection, Truth-In-Housing and Disclosures? What Does a Seller Need to Sell a Home?
• EXTREMELY Affordable Minnesota Lakeshore!
• First Time Homebuyers ARE Getting Deals on Foreclosures in MN!
• Does "Minnesota Nice" Affect the Real Estate Market? "Yah, You Betcha!"

Sometimes a flying flag doesn't affect us but on days like Veteran's Day when our country has just had a very vivid reminder at Fort Hood of how lucky we are that there are so many couragous men and women fighting to protect our freedoms, the flag means so much more. This flag flies over White Bear Lake near my office. Just one of many, many symbolic thank you's to our veterans.