Cheryl Kempenich

The data compiled is for lakefront property is Southern Chisago County, from January 1, 2009 thru September 30, 2009.

There are currently 80 active listings on 18 different lakes. The average list price is $374,676, which has been reduced by 4% from the original list price. 8% of these listings are foreclosure properties. The average market time is 271 days.

There are currently 8 pending sales with an average list price of $314,075. 38% of these listings are foreclosure properties. The average market time was 267 days.

There have been 33 closed sales between January & September. The average selling price was $239,600. The selling price averaged 89% of the list price. 59% of the sales were foreclosure properties. The average market time was 184 days. The most expensive home sold was $496,000. The least expensive home was $75,000. 55% of these properties were purchased with conventional financing, 24% with cash, 9% FHA, 6% VA, & 3% contract for deed.

There have also been 33 expired listings that have not relisted.

If we compare the sales for the same time period in 2008 we find that this year we have had more sales, more foreclosures, lower selling prices, & lower marketing time in 2009.

If we compare the sales for this decade we find the current average selling price is most closely related to the sales in 2001 which recorded 57 sales with an average selling price of $223,076. The record year was 2006 with 81 sales and an average selling price of $385,697.