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Minnesota State Wire

Thursday, November 7, 2024

Forest Lake home prices fall in the first half of 2020

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The median sale price of a home sold in the first half of 2020 in Forest Lake fell by $23,500 while total sales decreased by 7.4%, according to BlockShopper.com.

From January through June of 2020, there were 137 homes sold, with a median sale price of $254,900 - a 8.4% decrease over the $278,400 median sale price for the same period of the previous year. There were 148 homes sold in Forest Lake in the first half of 2019.

The median sales tax in Forest Lake for the most recent year with available data, 2015, was $2,288, approximately 0.9% of the median home sale price for the first half of 2020.

The following table compares Forest Lake to other Washington County cities with similar median sales prices in the first half of 2020:

CityJan. - June 2020 Home SalesJan. - June 2019 Home Sales% change (Total Home Sales)Jan. - June 2020 Median Sales PriceJan. - June 2019 Median Sales Price% change (Median Sales Price)
Lakeland1112-8.3%$274,900$280,000-1.8%
Cottage Grove201307-34.5%$272,500$258,9005.3%
Bayport20200%$270,250$252,2507.1%
Oak Park Heights2534-26.5%$255,000$216,50017.8%
Lake St. Croix Beach39-66.7%$255,000$229,00011.4%
Forest Lake137148-7.4%$254,900$278,400-8.4%
Willernie440%$242,500$222,4509%
Newport2031-35.5%$240,000$200,00020%
Oakdale199207-3.9%$237,600$230,0003.3%
Hugo125155-19.4%$237,125$220,0007.8%
St. Paul Park3450-32%$230,500$225,5002.2%

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