Blaine MN | A Tale of Two Markets...or Three

Blaine, MN | A Tale of Two Markets...or Three

While it is said that all real estate is local, the market in Blaine, Minnesota is following a pattern seen across the country, there is a discrepancy across markets. There is a continued lack of inventory in the starter homes while in high end homes there is an abundance. 

One difference I am seeing in and around the greater Blaine 55449 zip code is that there is a bit of a leveling off of the mid-range or move-up homes sales as the market seems to be come a bit more balanced for this price point. A quick look at the MLS today showed that there were only 7 homes available under $200K but more than triple the amount in the $200K to 300K price point with 21 active homes. Over $300K there were quadruple active listings with 109 homes currently available.

Real estate is often the biggest investment a person will make in their lifetime. Understanding the nuances of the local neighborhoods is essential. 

Today I would like to explore this further with A Tale of Two Markets 

Six months ago, I reported that the mismatch between the type of inventory of homes for sale and the demand of buyers in the US was causing the formation of two markets.
In the starter and trade-up home categories, there were significantly more buyers than there were homes for sale, causing a seller’s market. In the premium, or luxury, home categories, the opposite was true as there was a surplus of these homes compared to the buyers that were out searching for their dream homes, which created a buyer’s market.
According to the National Association of Realtors latest Existing Home Sales Report, the inventory of existing homes for sale in today’s market is at a 4.2-month supply. Inventory is now 6.5% lower than this time last year, marking the 27^th consecutive month of year-over-year decreases.

Looking at the latest report from Trulia, we can see that not much has changed, and in fact, recent natural disasters across the country have made inventory conditions even more dire.
Trulia’s market mismatch score measures the search interest of buyers against the category of homes that are available on the market. For example: “if 60% of buyers are searching for starter homes but only 40% of listings are starter homes, [the] market mismatch score for starter homes would be 20.”

The results of their latest analysis are detailed in the chart below.



Nationally, buyers are searching for starter and trade-up homes and are coming up short with the listings available, which is leading to a highly competitive seller’s market in these categories.

Premium home buyers, on the other hand, have the best chance of less competition and more inventory of listings in their price range with a 14.7-point surplus, which is creating more of a buyer’s market.

Bottom Line

Real estate is local. If you are thinking about buying OR selling this fall, let’s get together to discuss the exact market conditions in your area.

Source: KCM Teri Eckholm Blog

READY to Make YOUR Move? It IS essential to have a knowledgeable agent at your side. If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me, Teri Eckholm of BOARDMAN Realty, a call at 651-336-7073 or visit my website for a FREE Home Buyer Success Guide or FREE Home Value Report. 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 2017 terieckholm.com

Blaine, MN Real Estate Market Statistics Mid Year 2010

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 2008-2009, it has not stopped and continues to affect the market in 2010. 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 along with the tax incentives seemed to boost sales in the Blaine area during the first half of 2010. Looking at pending sales, it is doubtful that the trend will continue during the second half of the year but time will tell. The homes that are selling best in Blaine continue to be in the under $200,000 price point. I think that the tax credit incentive boosted the lower end sales considerably by enticing first time buyers into the market. Move up buyers had opportunities too as more homes sold in some of the higher priced categories too…but compared to completely stagnate sales of the past few years, it could have been due to pent up demand. It is also important to note that there are fewer new construction properties in the over $500,000 price range and that builders are starting to construct both townhomes AND single family homes under $200,000. Sales were brisk in the 2nd quarter in these price points for new construction. However, momentum has seemed to decline with the tax credit expiration.

The townhome and condominium market has started to sell at a rate similar to single family homes. This is affected directly by the number of new townhomes available at lower price points and how quickly they flew off of active status. Existing townhome sellers must continue to be aggressive in their pricing to compete with builders if they want to sell their properties in this market.

2009 Average Sales Price of all homes sold in Blaine:

· All Homes $196,174
· Single Family Homes $216,254
· Townhomes/Condos $150,5232009 Average Cumulative Days on Market in Blaine:
· All Homes 143
· Single Family Homes 140
· Townhomes/Condos 150

1st Half Blaine residential real estate statistics for single family homes:

Under $200,000~ 109 Active Listings, 14 Pending Listings, 141 Sold Listings, 105 CDOM (New Construction Subgroup 5 Active, 1 Pending, 2 Sold, 21 CDOM)

$200,000-300,000~104 Active Listings, 14 Pending Listings, 78 Sold Listings, 138 CDOM (New Construction Subgroup 37 Active, 6 Pending, 23 Sold, 88 CDOM)

$300,000-$400,000 ~40 Active Listings, 2 Pending Listings, 28 Sold Listings, 158 CDOM (New Construction Subgroup 15 Active, 1 Pending, 13 Sold, 142 CDOM)

$400,000-$500,000 ~ 18 Active Listings, 1 Pending Listings, 11 Sold Listings, 216 CDOM (New Construction Subgroup 2 Active, 1 Pending, 3 Sold, 282 CDOM)

$500,000-$1,000,000~ 20 Active Listings, 6 Pending Listings, 4 Sold Listings, 180 CDOM (New Construction Subgroup 7 Active, 4 Pending, 3 Sold, 53 CDOM)

$1,000,000 and Up ~1 Active Listings, 0 Pending Listings, 0 Sold Listings (No New Construction over $1,000,000)

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

Under $200,000~ 143 Active Listings, 27 Pending Listings, 103 Sold Listings, 123 CDOM (New Construction Subgroup 16 Active, 9 Pending, 15 Sold, 124 CDOM)

$200,000-300,000~ 11 Active Listings, 1 Pending Listings, 16 Sold Listings, 177 CDOM (New Construction Subgroup 8 Active, 1 Pending, 13 Sold, 162 CDOM)

$300,000-$400,000 ~ 5 Active Listings, 2 Pending Listings, 1 Sold Listings, 137 CDOM (New Construction Subgroup 3 Active, 2 Pending, 1 Sold, 137 CDOM)

$400,000-$500,000 ~ 6 Active Listings, 1 Pending Listings, 1 Sold Listings, 1 CDOM (New Construction Subgroup 2 Active, 1 Pending, 1 Sold, 1 CDOM)

$500,000-$1,000,000~ 3 Active Listings, 1 Pending Listings, 1 Sold Listings, 371 CDOM (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 1/1/10 through 6/30/10.




Copyright 2010 Teri Eckholm 

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/

Blaine, MN Real Estate Market Statistics 2008 Year End

Blaine is expanding by leaps and bounds in the north metro of the Twin Cities over the past few years. Just drive down Highway 65 and see the Main Street (125th) overpass to get an idea of how the changes have affected the community. Though housing construction has slowed during 2008, it has not 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 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. Single family homes under $400,000 and townhomes/condos under $200,000 were the bright spot selling at averages of 132-146 Cumulative Days on Market (CDOM). Single family homes are selling faster than townhomes/condos with lower average CDOMs in all price points. The overall CDOM statistic at 154 for Blaine compares favorably with other areas in the north metro such as Forest Lake, Lino Lakes and Ham Lake.

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 currently have an inventory of nearly 200 homes to choose from. 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 $300,000, there is about 7 months of inventory as it stands today. This attrition rate is holding steady with rates seen earlier this year.

Higher price new construction homes are selling even better than earlier this year as they now account for nearly 50% of total sales up from 33% at mid year. Traditional home sellers need to better compete with the extremely attractive builder incentives in order to get their homes sold.

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 18 months of inventory compared with nearly 3 years of inventory in 2007. Existing townhome sellers still must make their prices very attractive even though some of the builders’ inventory is down. Townhomes under $300,000 have a manageable inventory level but over $300,000, the inventory level is approaching 2 years.
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 Cummulative Days on Market in Blaine:

• All Homes.........................154


• Single Family Homes......150


• Townhomes/Condos....... 162

Year End Blaine residential real estate statistics for single family homes:
Under $200,000~ 107 Active Listings, 15 Pending Listings, 184 Sold Listings, 138 CDOM
$200,000-300,000~88 Active Listings, 9 Pending Listings, 160 Sold Listings, 142 CDOM (New Construction Subgroup 13 Active, 1 Pending, 15 Sold, 151 CDOM)
$300,000-$400,000 ~ 52 Active Listings, 6 Pending Listings, 74 Sold Listings, 133 CDOM (New Construction Subgroup 23 Active, 2 Pending, 28 Sold, 152 CDOM)
$400,000-$500,000 ~ 21 Active Listings, 1 Pending Listings, 35 Sold Listings, 245 CDOM (New Construction Subgroup 6 Active, 1 Pending, 16 Sold, 204 CDOM)
$500,000-$1,000,000~ 40 Active Listings, 2 Pending Listings, 20 Sold Listings, 295 CDOM (New Construction Subgroup 13 Active, 1 Pending, 11 Sold, 297 CDOM)
$1,000,000 and Up ~2 Active Listings, 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 1 Active, 0 Pending, 0 Sold)
Year End Blaine residential real estate statistics for townhomes and condos:
Under $200,000~ 110 Active Listings, 10 Pending Listings, 196 Sold Listings, 146 CDOM (New Construction Subgroup 22 Active, 1 Pending, 18 Sold, 40 CDOM)
$200,000-300,000~19 Active Listings, 2 Pending Listings, 38 Sold Listings, 213 CDOM (New Construction Subgroup 11 Active, 1 Pending, 15 Sold, 151 CDOM)
$300,000-$400,000 ~ 10 Active Listings, 0 Pending Listings, 5 Sold Listings, 325 CDOM (New Construction Subgroup 9 Active, 0 Pending, 0 Sold )
$400,000-$500,000 ~6 Active Listings, 0 Pending Listings, 2 Sold Listings, 166 CDOM (New Construction Subgroup 5 Active, 0 Pending, 0 Sold)
$500,000-$1,000,000~ 1 Active Listings, 0 Pending Listings, 2 Sold Listings, 202 CDOM (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 1/1/08 through 12/30/08.
Articles on Real Estate, Lakeshore and Minnesota that might be of interest:

• Dreaming of Life on MN Acreage?--What YOU Need to Know Before YOUR Move!


• Inspection, Pre-Inspection, Truth-In-Housing and Disclosures? What Does a Seller Need to Sell a Home?


• EXTREMELY Affordable Minnesota Lakeshore!


• First Time Homebuyers ARE Getting Deals on Foreclosures in MN!


• Does "Minnesota Nice" Affect the Real Estate Market? "Yah, You Betcha!"


• Lakeshore Market Statistics for Forest Lake, MN—Clear Lake & Forest Lake Sales

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

Blaine, MN Real Estate Market Statistics 3rd Quarter 2008

Blaine is expanding by leaps and bounds in the north metro of the Twin Cities. 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 facility 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 third quarter numbers show area homes are staying on the market an average of 162 days. Single family homes are selling faster than townhomes/condos with an average of 154 CDOM (Cumulative Days on Market) verses 183 CDOM. And newly constructed homes are out pacing existing homes with 107 CDOM to 164 CDOM. The overall CDOM statistic for Blaine compares with other areas of the north metro like Lino Lakes with a 151 CDOM, Forest Lake with a 167 DOM and Ham Lake with 210 CDOM. (Links to statistical reports for these communities are listed below.)

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. New Construction is a bright spot with homes selling at a brisk 107 CDOM and in less than 6 weeks in some price points.

Buyers looking at single family homes under $300,000 in Blaine have an inventory over 200 homes to choose from currently on the market. At a rate of 30 per month sold, the inventory is manageable. Looking at current inventory levels and the rate of sales for single family residential homes priced under $300,000, there is about 7 months of inventory as it stands today. This is up a bit from last year at this time when there was about 5-6 months of inventory at the same time period.

Higher price homes are selling faster than last year. Still, they have to compete with new construction for the buyers. Note that one third of the homes sold over $300,000 sold in the 3rd quarter are new construction. If you have a higher priced existing home on the market, be aware of the builder incentives being offered as they do affect your ability to sell.

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 only about 8 months of inventory compared with nearly 3 years of inventory at this time last year. Existing townhome sellers still must make their prices very attractive even though some of the builders’ inventory is down. There are still a significant number of builders with new townhomes available in the same area and they are making deals as evidenced by their very low 40 CDOM compared with 183 CDOM for existing townhomes and condos.

3rd Quarter Blaine residential real estate statistics for single family homes:

Under $300,000~ 222 Active Listings, 36 Pending Listings, 95 Sold Listings, 152 CDOM (New Construction Subgroup 17 Active, 2 Pending, 6 Sold, 167 CDOM )

$300,000-$400,000 ~ 51 Active Listings, 8 Pending Listings, 28 Sold Listings, 143 CDOM (New Construction Subgroup 15 Active, 5 Pending, 10 Sold, 49 CDOM)

$400,000-$500,000 ~ 26 Active Listings, 3 Pending Listings, 9 Sold Listings, 135 CDOM (New Construction Subgroup 8 Active, 3 Pending, 3 Sold, 44 CDOM)

$500,000-$1,000,000~ 47 Active Listings, 4 Pending Listings, 4 Sold Listings, 285 CDOM (New Construction Subgroup 12 Active, 2 Pending, 2 Sold, 77 CDOM)

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

3rd Quarter Blaine residential real estate statistics for townhomes and condos:

Under $300,000~ 143 Active Listings, 26 Pending Listings, 64 Sold Listings, 183 CDOM (New Construction Subgroup 36 Active, 5 Pending, 18 Sold, 40 CDOM)

$300,000-$400,000 ~ 33 Active Listings, 1 Pending Listings, 0 Sold Listings (New Construction Subgroup 10 Active, 1 Pending, 0 Sold )

$400,000-$500,000 ~ 11 Active Listings, 0 Pending Listings, 0 Sold Listings (New Construction Subgroup 6 Active, 0 Pending, 0 Sold)

$500,000-$1,000,000~ 11 Active Listings, 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 7/1/08 through 9/30/08.

Articles on Lakeshore and Minnesota that might be of interest:

• Does "Minnesota Nice" Affect the Real Estate Market? "Yah, You Betcha!"


• Dreaming of Life on MN Acreage?--What YOU Need to Know Before YOUR Move!


• Lakeshore Market Statistics for Forest Lake, MN—Clear Lake & Forest Lake Sales


• Lino Lakes, MN Real Estate Market Statistics 3rd Quarter 2008


• Circle Pines & Lexington, MN Real Estate Market Statistics 3rd Quarter 2008


• Forest Lake, MN Real Estate Market Statistics Third Quarter 2008


• Ham Lake, MN Real Estate Market Statistics 3rd Quarter 2008

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

Uniquely Minnesota Artful Distractions--Homeowner Version: Steel Dragons in Blaine

A decade ago when we made our move to Anoka County, unique sites along the road often surprised us. There were the little buildings resembling outhouses near the end of every driveway. These of course are shelters for children waiting for the school bus. There were hawks on roadside power lines looking down to the road or a sod field looking for its next meal to run by. And then there would be something to really stop you in your tracks…Something that looks like a steel dragon!

When we first saw this Artful Distraction in Blaine, it was nose to nose with its mirror image. The pair of shining steel sculptures glistened as they blocked the driveway and guarded the entry to the property. I have to admit, I have never noticed the actual home they protect but when looking at these entwined serpents, I imagined a castle.

In my real estate travels, I get to past these metallic serpents on a regular basis. Lately the pair has been apart, leaving access wide open to the property. From the looks of things, overgrown grass and unattended trash receptacles, I imagine there is a new owner in the home who doesn’t need the added security of a pair of silver steel dragons. But even apart, the spectacle doesn’t go without notice and remains a favorite and very unique distraction along a Minnesota roadway.

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: Giant Polar Bear in White Bear Lake


• Uniquely Minnesota Artful Distractions--Hometown Version: East Bethel’s New Resident Black Bear

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

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

*****************************************************
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

What’s My Home Worth in Forest Lake, MN? Or Ham Lake? Or Lino Lakes? Or Blaine?

Sound’s like a trick question in this market doesn’t it? Funny thing is that no matter what the market is like, the answer is not simple.

What if you dig into your closet or file cabinet for that big vinyl envelope you received when you finalized your refinance last year? There was an appraised value for your home in that paperwork. Is that what your home is worth?

Assessed values from the Washington County or Anoka County assessor are updated annually. That should be a pretty accurate number right?
There are some great, interactive websites like Zillow that have popped up over the past few years. Type in your address and within seconds a slew of interesting information hits your computer screen. But are these values accurate?
Ironically, all of these values could be considered good, accurate numbers or at least clues to the value of your home. As these numbers can be drastically different, how do you know what is the most accurate number? First, you need to know what the value is for. If you want a value to determine a selling price for your home in today's changed market there is no quick and easy answer. Since, there is no special real estate Magic 8 Ball for determining the best starting price, working with a knowledgeable Realtor for expert advice is the next best option.

Many things can affect the selling price. A home located with easy access to 35 is more desirable to some than a home on the opposite side of Forest Lake. Existing homes near the Landings of Summerfields development are affected by the prices and discounts being offered on the new homes in that community. Whether your home is on public utilities or has a private well and septic system is a consideration. And this is only the tip of the iceberg.

As a Realtor, I serve the communities in the Forest Lake school district and Anoka County. From Forest Lake to Hugo and Lino Lakes to Blaine and beyond, I keep my ear to the ground to hear what affects the prices of homes in the north and east Twin Cities metro area.

Are you planning a spring move and need to know what your home is worth? Do you want expert advice from someone who knows the Anoka County and Forest Lake District #831 area? Let me help you! CLICK HERE to schedule a FREE market value assessment. 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 Teri Eckholm http://www.terieckholm.com/

Is NOW a Good Time to Buy a Twin Cities Home? YES!!

CNBC’s Jim Kramer may have ignored one of the cardinal rules of real estate last week. Location, Location, Location. Many in real estate industry have heard and discussed the infamous statement “now is the absolute worst time to buy!” made by Kramer last week during a segment on national real estate.

At Keller Williams our co-founder and chairman had something to add to the debate in our weekly newsletter. His comments are timely and I believe more accurate. Keller points out three key problems with a blanket statement on the national real estate market. Here’s what Keller has to say about waiting out the current market:

First, residential real estate is not a national market product — it
is a local one. To say from a national position that this is either a good time
or a bad time to buy real estate is like saying the national forecast for the
U.S. today is 92 degrees — it is a useless and irrelevant perspective. What is
happening in your local market is all that matters.

Second, trying
to predict when it is a good time to buy, or not, means you’re trying to time
the market. Staying on the sidelines is the surest way for most people to never
time anything correctly.

Last, and maybe most important — there are
always two markets in every market. There is the market of properties that are
good buys and there is the market of properties that are not a good buys.
Interestingly enough, this is true in either buyer or seller markets. To
categorically say that this is the time to buy or not is absolutely ignoring the
fact that every market really has two markets inside it.

All three points are valid in the Twin Cities real estate market. There are a handful of communities in the southwest metro where homes continue to sell a few days or weeks after being posted on the MLS. These areas have seen modest appreciation this past year while most Minneapolis and St. Paul suburbs have been flat. Some have even seen slight depreciation. Homes in the Twin Cities metro are taking an average of 4 months to sell but the days-on-market stats for Linwood and North Branch are definitely longer than for homes in White Bear Lake and Maplewood.

As a Realtor working in Ham Lake and the Forest Lake school district, I would never make a blanket statement regarding the whole Twin Cities. But Kramer made a statement regarding the market across the entire US. When I am asked by potential clients if it is a good time to buy a home in the north and east metro of the Twin Cities, the answer is “Yes”.

As Keller states, there are two markets in every market and this is truer than ever currently in the Twin Cities. There are many homes that are over priced. Short-sale homes where the sellers are upside-down on the financing, owing more than the home is worth. Those are not necessarily a good deal. Likewise there are always a few sellers in every market that have higher expectations than what buyers in the marketplace want to pay. Those homes should be avoided.

But what I am seeing in the Twin Cities market is a good portion of sellers WANT and NEED to sell their homes. When sellers want to sell, the homes are in tiptop condition, priced incredibly well. And, sellers are willing to negotiate. Builders are having unprecedented incentives and price concessions so a new construction dream home can be a great buy too.

To find that well priced, dream home in the Twin Cities, it is imperative that buyers work with a Realtor. Through market analysis and experience, a real estate professional will help you determine which category a home falls; overpriced or good value. Just like we have done in every market—buyer, seller or in-between—for years.



If you are relocating to Minnesota, are looking for Homes for Sale in the north and east Twin Cities metro area and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage properties! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2007 www.terieckholm.com/