Friday, May 9, 2008

Blaine, MN Real Estate Market Statistics 1st Quarter 2008

Blaine continues to expand and change the north metro of the Twin Cities albeit at a slower pace than in the past few years. The residential real estate construction boom in Blaine during the past decade has slowed but not stopped making new and existing home purchase opportunities very affordable. Conveniently located along 35W and Highway 65 and connected by Highway 10 just north of the Twin Cities, Blaine is an attractive location for both business and residential development. The community is served by three school districts; Anoka Hennepin District #11, Centennial District #12, and Spring Lake Park District #16. Blaine is best known for the National Sports Center a sport and meeting facilility that hosts an annual worldwide soccer event and Tournament Players Club golf course where the PGA Senior tour is played every summer.

Real estate in Blaine, MN in Anoka County is affordable and selling—though admittedly at a slower pace than most sellers would like. The first quarter numbers show area homes are staying on the market an average of 147 days. When broken down to single family homes versus townhomes/ condos, the single family homes have a 150 average CDOM while townhomes/condos are selling a bit faster with a 143 CDOM. This could be do to builder incentives on the abundance of new construction properties making condo starter homes attractive to first time buyers.

The 147 CDOM for Blaine is better than in other areas of the north metro like Forest Lake, Lino Lakes and Ham Lake where homes have a cumulative days-on-market rate (CDOM) of well over 200 days. (Links to statistical reports for these communities are listed below.)



Inventory levels of single family homes under $300,000 in Blaine have remain quite manageable. Higher price homes are not only selling at a slower pace, they have to compete with new construction for the buyers. However the sale of higher priced homes remain stagnant. High priced existing homes are competing with new construction properties in the same category…Tough competition in any market .
1st Quarter Blaine residential real estate statistics for single family homes:

Under $300,000~136 Active Listings, 7 Pending Listings, 62 Sold Listings, CDOM 143(New Construction Subgroup 12 Active, 0 Pending, 3 Sold)

$300,000-$400,000~48 Active Listings, 3 Pending Listings, 9 Sold Listings, CDOM 159(New Construction Subgroup 14 Active, 0 Pending, 1 Sold)

$400,000-$500,000~30 Active Listings, 2 Pending Listings, 7 Sold Listings, CDOM 177(New Construction Subgroup 11 Active, 0 Pending, 2 Sold)

$500,000-$1,000,000~39 Active Listings, 3 Pending Listings, 2 Sold Listings, CDOM 259 (New Construction Subgroup 14 Active, 2 Pending, 0 Sold)

$1,000,000 and Up~4 Active Listings, 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 1 Active, 0 Pending, 0 Sold)


1st Quarter Blaine residential real estate statistics for townhomes and condos:

Under $300,000~116 Active Listings, 7 Pending Listings, 47 Sold Listings, CDOM 142 (New Construction Subgroup 18 Active, 4 Pending, 9 Sold)


$300,000-$400,000~12 Active Listings, 0 Pending Listings, 1 Sold Listings, CDOM 214 (New Construction Subgroup 7 Active, 0 Pending, 1 Sold)

$400,000-$500,000~8 Active Listings, 1 Pending Listings, 0 Sold Listings (New Construction Subgroup 6 Active, 1 Pending, 0 Sold)

$500,000-$1,000,000~1 Active Listings, 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 1 Active, 0 Pending, 0 Sold)

$1,000,000 and Up~1 Active Listings, 0 Pending Listings, 0 Sold Listings


**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/08 through 3/31/08.


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


Articles on Lakeshore and Minnesota that might be of interest:
Does "Minnesota Nice" Affect the Real Estate Market? "Yah, You Betcha!"
Anoka County Foreclosures Rate Highest in Metro—How Does this Affect Homeowners?
Dreaming of Life on MN Acreage?--What YOU Need to Know Before YOUR Move!
Affordable Minnesota Lakeshore
Lino Lakes, MN Real Estate Market Statistics 1st Quarter 2008
Forest Lake, MN Real Estate Market Statistics 1st Quarter 2008
Ham Lake, MN Real Estate Market Statistics 1st Quarter 2008

Featured Anoka County Listing (Pictured Above):
15139 E Vermillion Circle NE, Ham Lake, MN 55304

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If you are buying, selling or relocating to Minnesota and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

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