2009 Year End Snapshot of Blaine Market Statistics

The number of new listings continued to drop in Blaine, Minnesota through 2009 as did the average sales price. Blaine’s high valued home market in prices $500,000 and up continues to be at a standstill but lender mediated foreclosure/short sale homes in the lower price points continue to sell and affect the average sales price. Closed sales are up for Blaine in 2009 over 2008 so the market is seeing activity. Listings are staying on the market just slightly less this year than the previous year. Blaine has sold through most of its current home inventory as it was an affordable option for buyers in the north metro homebuyer. With less than 3 months of inventory in the lower price points, 2009 might be the year for a traditional seller with a starter home to have the opportunity to move up.  

*Does not take into account time on the market or list price from previous listing contracts.
*Based on data from the Minneapolis Association of Realtors and data reported to the Regional Multiple Listing Service, Inc.

 
Copyright 2010 Teri Eckholm http://www.terieckholm.com/

Blaine, MN Year End Real Estate Market Statistics 2009

Blaine has continued to expand and develop by leaps and bounds in the north metro of the Twin Cities during the past few years. Just drive down Highway 65 and see the Main Street (125th) overpass as well as several others in different phases of construction and all of the new retail establishments to get an idea of how the changes have affected the community. Though housing construction slowed during 2009, it has not completely stopped. New developments have continued to expand the housing base, especially in the townhome and lower level price points. 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 facility that hosts an annual worldwide soccer event and Tournament Players Club golf course where the PGA Senior tour is played every summer.

Builders’ incentives to home buyers have required home sellers to be very competitive with housing prices making homes in the Blaine area. While existing single family homes are holding their own in the competition against builders, it does not appear to be the same case in the existing townhome market. Over 77% of the townhomes sold at prices over $200,000 were new construction. Existing townhome sellers in Blaine really need to be competitive to sell when in competition with a brand new property. Homes remained affordable throughout 2009 and with 874 homes sold, Blaine’s inventory of property for sale is very manageable across all price points. Currently there is 2-6 months of inventory for homes with price points under $500,000 and just under 18 months of inventory for homes priced over $500,000. These are better inventory statistics for Blaine than I have seen in the past 3 years! The overall CDOM statistic at 143 for Blaine is down from 154 in 2008 and is significantly better than any of the surrounding communities in the north metro such as Forest Lake, Lino Lakes and Ham Lake.

The townhome and condominium market has exploded in Blaine and builders have pulled out all the stops bringing pricing down. There is considerably less new construction townhome inventory on the market with about 7 months of inventory compared with 18 months at the end of 2008 and nearly 3 years of inventory in 2007. Existing townhome sellers have their work cut out for them as they continue to sharpen their pencils and make their prices very attractive. Pricy existing executive townhomes listed over $500,000 are currently at a standstill with 5 listed homes and no buyers in the past year.

2009 Average Sales Price of all homes sold in Blaine:

All Homes $195,793
Single Family Homes $215,361
Townhomes/Condos $150,823

2009 Average Cumulative Days on Market in Blaine:

All Homes 143
Single Family Homes 140
Townhomes/Condos 153

Year End Blaine residential real estate statistics for single family homes:

Under $200,000~ 78 Active Listings, 35 Pending Listings, 331 Sold Listings, 117 CDOM (New Construction Subgroup 3 Active, 9 Pending, 4 Sold, 256 CDOM)

$200,000-300,000~80 Active Listings, 13 Pending Listings, 172 Sold Listings, 132 CDOM (New Construction Subgroup 22 Active, 4 Pending, 36 Sold, 136 CDOM)

$300,000-$400,000 ~ 29 Active Listings, 10 Pending Listings, 63 Sold Listings, 217 CDOM (New Construction Subgroup 13 Active, 4 Pending, 30 Sold, 239 CDOM)

$400,000-$500,000 ~ 11 Active Listings, 2 Pending Listings, 27 Sold Listings, 284 CDOM (New Construction Subgroup 3 Active, 2 Pending, 9 Sold, 259 CDOM)

$500,000-$1,000,000~ 23 Active Listings, 5 Pending Listings, 16 Sold Listings, 272 CDOM (New Construction Subgroup 9 Active, 3 Pending, 5 Sold, 135 CDOM)

$1,000,000 and Up ~1 Active Listings, 0 Pending Listings, 0 Sold Listings (All existing homes)

Year End Blaine residential real estate statistics for townhomes and condos:

Under $200,000~ 87 Active Listings, 22 Pending Listings, 243 Sold Listings, 147 CDOM (New Construction Subgroup 17 Active, 0 Pending, 48 Sold, 241 CDOM)

$200,000-300,000~19 Active Listings, 2 Pending Listings, 12 Sold Listings, 276 CDOM (New Construction Subgroup 10 Active, 2 Pending, 11 Sold, 252 CDOM)

$300,000-$400,000 ~ 5 Active Listings, 0 Pending Listings, 7 Sold Listings, 259 CDOM (New Construction Subgroup 5 Active, 0 Pending, 4 Sold, 361 CDOM )

$400,000-$500,000 ~ 0 Active Listings, 0 Pending Listings, 3 Sold Listings, 359 CDOM (New Construction Subgroup 0 Active, 0 Pending, 2 Sold, 410 CDOM)

$500,000-$1,000,000~ 5 Active Listings, 0 Pending Listings, 0 Sold Listings (No New Construction activity)

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.
**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/09 through 12/30/09.

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 , Homebuyers Success Packet or sign up for Listingbook Twin Cities Home Search. 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.

Copyright 2010 Teri Eckholm http://www.terieckholm.com/

Blaine, MN Real Estate Market Statistics 2nd Quarter 2009

In spite the economic downturn of the past few years, the community of Blaine has continued to grow and expand in the north metro of the Twin Cities. Just drive down Highway 65 and see just completed Main Street (125th) overpass to get an idea of how the significant changes have affected the community. Though housing construction had slowed during 2008, it has not stopped and continues to affect the 2009 market. New developments expand the housing base, especially in the townhome and lower level price points. 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 facility that hosts an annual worldwide soccer event and Tournament Players Club golf course where the PGA Senior tour is played every summer.
Builders' incentives and lender mediated home sales have required home sellers to be very competitive with housing prices making homes in the Blaine area extremely affordable. As I predicted this affordability is continuing in 2009. It seems a builder or two has finally caught on that under $200K is the price point where the bulk of the buyers are as there are single family new construction homes in Blaine UNDER $200K for the first time in years!
While the homes moving the quickest in Blaine continue to be in that under $200,000 price point, we are finally starting to see a little more movement in the $300K-$600K priced homes (the over $600K market remains pretty static). My guess is that all the first time buyers have bought up a few of those starter homes owned by traditional sellers that are now able to finally move up to the next price point.
Cumulative days of the market (CDOM) are pretty consistent in the lower price points. But notice the high CDOM’s for high valued homes…475+ days on the market is a very long time. With 55 homes on the market above $500,000, there is currently almost 3 YEARS of inventory!
Additionally, the $8000 first time homebuyer tax credit really affected the inventory levels in the lower price points. Looking at current inventory levels and the rate of sales (including pending sales) for single family residential homes priced under $200,000, there is about 3 months of inventory for single family homes in Blaine as it stands today.
Lower priced townhomes in Blaine have similar statistics with very low inventory. Of the townhomes and condominiums on the market in Blaine, roughly 25% of those sold were new construction. Townhomes are still a popular option for first time homebuyer in the Blaine area and builders price incentives have affected the market, as has lender mediated pricing. The average price of Blaine townhomes sold has dropped significantly in the first half of the year. Existing townhome sellers must make their prices very attractive to compete with the aggressive lender mediated and builder pricing. Townhomes under $200,000 have about a four month absorption rate but higher priced units have well over a year of inventory.
Average Sales Price of all homes sold in Blaine 2008 vs 2009 to date:

• All Homes $225,300 in 2008 vs $194,321 in the first half of 2009
• Single Family Homes $253,143 in 2008 vs $211,725 in the first half of 2009
• Townhomes/Condos $171,218 in 2008 vs $149,652 in the first half of 2009

Average Cumulative Days on Market in Blaine 2008 vs 2009 to date:

• All Homes 154 in 2008 vs 159 in the first half of 2009
• Single Family Homes 150 in 2008 vs 155 in the first half of 2009
• Townhomes/Condos 162 in 2008 vs 172 in the first half of 2009

2nd Quarter Blaine residential real estate statistics for single family homes:
Under $200,000~113 Active Listings (20 Disclosed as Lender Mediated), 50 Pending Listings, 54 Sold Listings, 121 CDOM (New Construction Subgroup 1 Active, 1 Pending, 0 Sold)
$200,000-300,000~94 Active Listings (9 Disclosed as Lender Mediated), 23 Pending Listings, 31 Sold Listings, 162 CDOM (New Construction Subgroup 17 Active, 6 Pending, 6 Sold, 298 CDOM)
$300,000-$400,000 ~37 Active Listings(2 Disclosed as Lender Mediated) , 13 Pending Listings, 9 Sold Listings, 175 CDOM (New Construction Subgroup 13 Active, 7 Pending, 5 Sold, 116 CDOM)
$400,000-$500,000 ~ 26 Active Listings (2 Disclosed as Lender Mediated), 1 Pending Listings, 8 Sold Listings, 484 CDOM (New Construction Subgroup 8 Active, 0 Pending, 2 Sold, 272 CDOM)
$500,000-$1,000,000~ 29 Active Listings (3 Disclosed as Lender Mediated), 3 Pending Listings, 2 Sold Listings, 496 CDOM (New Construction Subgroup 7Active, 1 Pending, 1 Sold, 170 CDOM )
$1,000,000 and Up ~1 Active Listings, 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 0 Active, 0 Pending, 0 Sold)
2nd Quarter Blaine residential real estate statistics for townhomes and condos:
Under $200,000~ 110 Active Listings (12 Disclosed as Lender Mediated), 43 Pending Listings, 42 Sold Listings, 162 CDOM (New Construction Subgroup 13 Active, 10 Pending, 8 Sold, 313 CDOM)
$200,000-300,000~24 Active Listings (2 Disclosed as Lender Mediated), 2 Pending Listings, 3 Sold Listings, 325 CDOM (New Construction Subgroup 13 Active, 2 Pending, 0 Sold)
$300,000-$400,000~ 7 Active Listings, 0 Pending Listings, 3 Sold Listings, 150 CDOM (New Construction Subgroup 6 Active, 0 Pending, 1 Sold, 276 CDOM)
$400,000-$500,000~3 Active Listings, 1 Pending Listings, 0 Sold Listings (New Construction Subgroup 3 Active, 1 Pending, 0 Sold)
$500,000-$1,000,000~ 2 Active Listings(1 Disclosed as Lender Mediated), 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 1 Active, 0 Pending, 0 Sold)
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.
**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 4/1/09 through 6/30/09.


Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Blaine, MN Real Estate Market Statistics First Quarter 2009

The community of Blaine has continued to grow and expand in the north metro of the Twin Cities despite the economic downturn. Just drive down Highway 65 and see the Main Street (125th) overpass to get an idea of how the significant changes have affected the community. Though housing construction had slowed during 2008, it has not stopped and continues to be a force in 2009. New developments expand the housing base, especially in the townhome and lower level price points. 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 facility that hosts an annual worldwide soccer event and Tournament Players Club golf course where the PGA Senior tour is played every summer.

Builders’ incentives to home buyers have required home sellers to be very competitive with housing prices making homes in the Blaine area extremely affordable. I predict this affordability to continue throughout 2009. Home sales slowed at year end but overall the year was not bad for lower priced homes. The homes that are selling best in Blaine are in that under $200,000 price point. My guess is a majority of the sold homes were lender-mediated, either foreclosure or short sale properties. Cumulative days of the market (CDOM) has stayed consistent with the numbers from 2008 in the lower price points. Fluctuation in the higher price points are mostly skewed due to few sales.

Last year, homes in Blaine were selling a bit faster than other areas of Anoka County but the slowdown in existing sales seems to have overtaken this community as well. Buyers looking at single family homes under $300,000 in Blaine quite a bit of inventory to choose from but the choices are down from 2008. At a rate of 28 per month sold, the inventory is manageable. Looking at current inventory levels and the rate of sales for single family residential homes priced under $200,000, there is about 9 months of inventory as it stands today. But in higher price points the absorption rate still nearly 2 years.

New construction homes sales are slow in the first quarter just as builders added inventory for the Parade of Homes. Traditional home sellers need to be aware that builder incentives continue to be very attractive to entice buyers to build rather than buy existing.

The townhome and condominium market has exploded in Blaine and builders have pulled out all the stops bringing pricing down. There is considerably less new construction townhome inventory on the market with about 6 months of inventory compared with nearly 3 years of inventory in 2007. Existing townhome sellers must make their prices very attractive even though builders’ inventory is down. Townhomes under $200,000 have about an 18 month absorption rate but little is selling in higher price ranges so it is difficult to assess how long the current new townhome inventory will stay on the market.
2008 Average Sales Price of all homes sold in Blaine:
· All Homes $225,300
· Single Family Homes $253,143
· Townhomes/Condos $171,218

2008 Average Cumulative Days on Market in Blaine:

· All Homes 154
· Single Family Homes 150
· Townhomes/Condos 162
1st Quarter Blaine residential real estate statistics for single family homes:

Under $200,000~ 88 Active Listings, 36 Pending Listings, 43 Sold Listings, 137 CDOM

$200,000-300,000~100 Active Listings, 15 Pending Listings, 20 Sold Listings, 145 CDOM (New Construction Subgroup 26 Active, 2 Pending, 1 Sold, 54 CDOM)

$300,000-$400,000 ~41 Active Listings, 3 Pending Listings, 6 Sold Listings, 286 CDOM (New Construction Subgroup 20 Active, 1 Pending, 2 Sold, 30 CDOM)

$400,000-$500,000 ~ 29 Active Listings, 3 Pending Listings, 3 Sold Listings, 156 CDOM (New Construction Subgroup 9 Active, 1 Pending, 0 Sold)

$500,000-$1,000,000~ 42 Active Listings, 3 Pending Listings, 0 Sold Listings (New Construction Subgroup 13 Active, 1 Pending, 0 Sold)

$1,000,000 and Up ~2 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 $200,000~ 115 Active Listings, 21 Pending Listings, 20 Sold Listings, 95 CDOM (New Construction Subgroup 14 Active, 4 Pending, 7 Sold, 40 CDOM)

$200,000-300,000~24 Active Listings, 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 9 Active, 0 Pending, 0 Sold)

$300,000-$400,000 ~ 11 Active Listings, 0 Pending Listings, 2 Sold Listings, 193 CDOM (New Construction Subgroup 10 Active, 0 Pending, 1 Sold, 151 CDOM)

$400,000-$500,000 ~4 Active Listings, 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 3 Active, 0 Pending, 0 Sold)

$500,000-$1,000,000~ 2 Active Listings, 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 2 Active, 0 Pending, 0 Sold)

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.

**All Statistical information based on information from the REGIONAL MULTIPLE LISTING SERVICE of MINNESOTA, INC. for the period of 1/1/09 through 3/31/09.

Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Spring Cleaning in Anoka County? Hazardous Waste and Compost Sites on Summer Hours

Whether you are ditching the hazardous waste when cleaning out the garage or dumping the leaves from an afternoon yard cleanup, Anoka county has you covered.

Got Hazardous Waste? If it is time for a trip to the Anoka County Household Hazardous Waste Facility (HHW) head to Blaine! The HHW is located at 3230 101st Ave NE in Blaine just west of the 35W and 95th Ave interchange and is open YEARROUND and is FREE to Anoka County Residents! CLICK HERE for Map and Directions.

Summer Hours (April through October)

Wednesday 2PM-8PM

Friday 9PM-3PM

Saturday 9PM-3PM

HHW accepts more than paint too. Drop off any household product that is labeled "Corrosive", "Flammable"," Poison", "Toxic" or "Warning". This includes old drain cleaner and mothballs from the hall closet and the insecticides and weed killer in the garage. Mercury thermometers, pool chemicals and used motor oil are also accepted. For a complete list of what is accepted at Anoka County the HHW Facility CLICK HERE.

Got Yard Waste?Acceptable materials include: leaves, grass clippings, weeds and soft-bodied green plant materials. No garbage allowed and must be debagged at the site.Cost $4.00 per load up to 4 cubic yards for Anoka County residents.

Bunker Hills Compost Site

Located at 13285 Hanson Blvd. Coon Rapids

Open April through November weather permitting.

Monday-Friday 10AM to 7PM (or Sunset if earlier)

Saturday 9AM to 5PM

Sunday 12PM to 5PM

Rice Lake Chain of Lakes Compost Site

Located at 7701 Main St, Lino Lakes

Tuesday 10AM to 7PM (or Sunset if earlier)

Thursday 10AM to 7PM (or Sunset if earlier)

Saturday 9AM to 5PM

Sunday 12PM to 5PM

Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Year End 2008 Snapshot of Blaine, MN Home Sales Statistics

The number of new listings has dropped significantly in Blaine, Minnesota right along with the average sales price. This is no doubt due to the fact that Blaine’s high valued home market in prices $500,000 and up is stagnant while the new townhomes and foreclosure/short sale homes in the lower price points continue to sell. Closed sales are up for Blaine in 2008 over 2007 so the market is moving. But listings are staying on the market for an average of almost a month longer than the previous year. Blaine still has an abundant home inventory and with prices down and sellers negotiating, this could be an affordable option for a north metro homebuyer!

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 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.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Copyright 2009 terieckholm.com

Uniquely Minnesota Artful Distractions—Homeowner Version: Not Paper Roses…Wooden American Beauties in Blaine, MN

Last week on the way home from an orthodontist appointment for my son we detoured down a Blaine street following a bright pink sign advertising a late season garage sale. We turned into a dead end road but not a single garage door was opened on this cold gray early morning but we discovered an even more exciting treasure…Another Uniquely Minnesota Artful distraction.

At the end of the cul de sac there was the remnants of a beautiful perennial garden. In the center of the garden, surrounded by wood chips and hostas with leaves starting to yellow, was a wonderfully carved display of wooden roses. Now I know Marie Osmond had a hit with Paper Roses way back when, but these wooden American Beauties are really something to sing about! Good thing I had my camera with as we were going to take a photo of a Blaine water tower for a real estate market statistic post. I was able to get a picture of this unique wooden carving to share.

Look closely at the bottom and you will see a hidden treasure. There is a small dog carved into the bottom of the sculpture. I am guessing the dog is named Rosie!

Other Uniquely Minnesota Artful Distractions:

• Uniquely Minnesota Artful Distractions-Hometown Version: The North St. Paul Snowman
• Uniquely Minnesota Artful Distractions-Homeowner Version: Grrrr....Black Bear in Columbus
• Uniquely Minnesota Artful Distractions-Hometown Version: Giant Mouse and Buffalo in Center City
• Uniquely Minnesota Artful Distractions-Homeowner Version: Forest Lake Steam Train
• Uniquely Minnesota Artful Distractions--Homeowner Version: Ham Lake Bald Eagle in Nest
• Uniquely Minnesota Artful Distractions-Homeowner Version: Little Gnome Facts in Forest Lake
• Uniquely Minnesota Artful Distractions--Hometown Version: Lindstrom Teapot Watertower
• Uniquely Minnesota Artful Distractions-Homeowner Version: D'oh! Homer at Home in Centerville
• Uniquely Minnesota Artful Distractions--Hometown Version: East Bethel’s New Resident Black Bear
• Uniquely Minnesota Artful Distractions--Homeowner Version: Steel Dragons in Blaine
• Uniquely Minnesota Artful Distractions--Homeowner Version: Move Over Tiger! Yogi’s Ready for the Links in Forest Lake!
• Uniquely Minnesota Artful Distractions—Homeowner Version: Skol Vikings! Minnesota Viking in Roseville, MN!

Don't be distracted when making YOUR important real estate decisions! 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.

Copyright 2008 terieckholm.com