Minnesota Real Estate Blog

Blaine MN Real Estate

Blaine is an outer-ring suburb approximately 25 minutes north of Minneapolis. In 2008 CNNMoney.com gave Blaine a rank of 93 as a "Best Place to Live" on their top 100. Today we're looking at housing figures for Blaine from December 2008 to December 2009. We'll also look at year-to-date information for Blaine.

The single-family detached inventory for Blaine in December 2008 was 338 homes on market, 88 being new listings. December 2009 saw the total number of homes on the market drop 25.1% to 253. Similarly, townhouse and condo inventories saw a 21.9% decrease between December 2008's 155 units and December 2009's 121 units.

The new market listings for December '09 were up 19.3% to 105 over the previous year. The change for new market listings didn't follow the year-to-date trend as slightly less were added to the market: 1,716 in 2008 down to 1,612 in 2009.

Closed sales for December 2009 were down over the previous year, while the year-to-date saw an increase. In December '08 and at the year-end of 2008, the numbers of closed sales were 53 and 762 respectively. Closed sales for December '09 fell 26.4% to 39 with the year-to-date at 880 closings, a positive 15.5% change over the previous year.

The average sales price for December 2008 to December 2009 remained relatively the same at $201,435 in 2008 to $201,452 in 2009. The average sales price for the year-to-date decreased 13.5% from $226,124 to $195,720 in 2008 and 2009 respectively. However, the percent of sellers receiving the original list price increased 11.9% from December 2008's 86.9% to 97.2% in 2009. For the year-to-date in 2009, 94% percent of sellers in Blaine received the original listing price, which rose slightly by two-percent.

The average number of days a home sat on the market fell by 4.8% from 129 days in December 2008 to 123 days in December 2009, more than the year-to-date change, which slipped 2.1% to 126 days in 2009.

As sales prices indicate, this area is a buyers market. If you're looking to purchase a home and don't know where to start, The Minnesota Real Estate Team can help you with their free seminar to help first time mn home buyers. Or if you're just curious about homes in the area, check out these Minnesota real estate properties.

Special thanks to our friends at the Minneapolis Area Association of Realtors for providing these valuable statistics.

Labels: Blaine Market Update, Blaine Real Estate, MN First Time Homebuyers

posted by Michael at Permanent Link