Friday, January 25, 2013
Snapshot of Home Sales Statistics in Blaine MN Year End 2012
The number of new listings decreased considerably for the second year in a row in Blaine, Minnesota. But unlike 2011, the number of sales, and more importantly, prices have seen a significant rebound. A majority of Blaine’s lender mediated foreclosure/short sale homes in the lower price points seem to have worked their way through the system no longer drastically affecting the average sales price. With this the average price per square foot rebounded almost 10% from $88/sq ft to $96/sq ft. Lower interest rates have continued to bring in buyers as closed sales are up again in 2012. New listings have dropped so there is considerably less inventory. Homes are selling at a brisk pace with 35 day drop in the average time to sell than in 2011, down from 132 to 97 days on the market. Blaine sellers are receiving nearly asking price in 2012 at just over 96% This north metro community has sold through most of its current home inventory but continues to have many affordable option for first time home buyers. However as inventory levels continue to drop, 2013 might be the year for a traditional seller with a starter home to make their move as sellers seem to have the upper hand again.
Interested in Making a Move to BLAINE, MN? If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me, Teri Eckholm of RE/MAX Specialists, a call or visit my website for a FREE Relocation Packet or Homebuyers Success 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.