Real Estate market overview: Lino Lakes Minnesota appreciation data and trends 2022, by Francine Marsolek.

Real Estate Market Overview: Lino Lakes Minnesota Appreciation Data and Trends 2022

By Francine Marsolek

Lino Lake is a medium-sized city in the state of Minnesota with a population of about 21,399 people. The city has five constituent neighborhoods namely; Lino Lakes East, Lino Lakes Southeast, City Center, Lino Lakes North and Lino Lakes Northeast. The data presented in this article applies to the city as a whole and not the constituent neighborhoods. The population and size of Lino Lake city puts it at 54th largest community in Minnesota.

Although the real estate market is performing better, hyping the prices of homes and apartments in the city, I can confidently say that the prices here are moderate and do not compare to the country’s most expensive cities. Real Estate Profile According to realtor.com, the median price for homes sold in Lino Lakes is $480K. The company further reports that in March 2022, the median listing price was up 18 percent year over year and the sale to list ratio standing at 100%.

Going by the current market conditions, Lino Lakes was a buyers’ market in the first quarter of the year which means that the supply of homes was higher than the demand.

On average, homes in Lino Lakes stayed on the market for an average of 43 days.

When you look at the composition of the housing types in Lino Lakes, single-family detached homes are easily recognizable as they are the

prevalent type of housing in the city accounting got 88.54 percent of the city’s housing units. There are other types of housing units in the city including row houses and attached homes that account for 7.92 percent, large apartment complexes or the high rise apartment that account for 2.26 percent and a few mobile homes that account for 1.22 percent of the total housing stock in the city.

Just like the United States, owner occupied, three and four bedrooms houses primarily in singlefamily detached homes are the most prevalent types of housing in Lino Lakes. The owner occupied housing accounts for 87.18 percent of the city’s homes and 72.19 percent have either three or four bedrooms.

In terms of the age of the houses in Lino Lakes, we see a lot of them were built between the 70s and late 90s. But, there is also a lot of homes in Lino Lakes that were built between years 2000 and later. They account for 26.12 percent of the total homes in Lino Lakes.

THE APPRECIATION DATA

The appreciation rates for homes in Lino Lakes have been well above average in the last decade. Data from NeighborhoodScout.com puts the cumulative appreciation rate for the last decade at 65.46 percent which puts the city in the top 30 percent nationally. To break this down further, this puts Lino Lakes’ appreciation rate at annualized 5.16 percent

In the last 12 months however, the city’s appreciation rates have trailed the rest of the nation whereby it has seen an appreciation rate of 11.36 percent which is actually lower than the appreciation rates of other places in the country. The last quarter saw Lino Lakes appreciation rate at 5.41 equating to 23.46 percent annual appreciation rate.

When compared to the rest of the state, the appreciation rate of Lino Lakes is actually lower than 80 percent of other cities and towns in the state.