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05-06-2024 Local Board of Appeal and Equalization Meeting Packet
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05-06-2024 Local Board of Appeal and Equalization Meeting Packet
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5/3/2024 12:35:02 PM
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5/2/2024 11:50:51 AM
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City Council
Council Document Type
Council Packet
Meeting Date
05/06/2024
Council Meeting Type
Board of Appeal
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Anoka County City of Lino Lakes <br />10 <br /> <br />We are aware that due to the time frames we are required to work within it sometimes appears as though the assessor’s estimated market value does not represent the market. It seems lower than it should be during times of inflation and higher than it should be in times of deflation. The following chart illustrates the relationship between assessed values and actual sale prices; and how the assessor’s market values have been following the changes as they occur in the open market. <br /> <br /> Note: The Median Assessor’s Estimated Market Value represents the homes that are in the sales study. <br />2024 Sales Statistics – Residential The table below uses various sales metrics to compare how the residential market in Lino Lakes performed compared to the rest of the county. The sales study figures were gathered using Northstar MLS data. <br /> <br /> <br />Metric Lino Lakes CountywideAverage Sale Price & % Change (YOY)$436,400(-2.06%) $387,400(+2.08%)Median Sale Price % Change (YOY)$421,500(-3.66%) $350,000(+.03%)Median Days on Market (DOM)18 16# of Sales & % Change (YOY)297(-8.33%) 4373(-15.45%)# of Arm’s Length Sales & % Change (YOY)296(-8.36%) 4325(-15.71%)# of Non-Arm’s Length Sales & % Change (YOY)1 48(+17.07%) <br />12
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