Blaine Real Estate Market Statistics 2013

Posted on Wednesday, February 12th, 2014 at 2:07pm.

Blaine 2013 Real Estate Market Statistics

What happened last year in the Blaine real estate market? It’s all right here, hot off the presses! First take a look at the following infographic and then I’ll break it all down for you.

 

Blaine New Construction

No surprises here -- all you have to do is drive around town and you'll know how quickly our town is growing. Blaine new construction was up 18 percent last year over the previous year. From the incredible new Paulson-built executive homes popping up at The Sanctuary to the Hanson Builders' beauties in Northwest Shores, we have to be setting some sort of record for the number of hammer pounds per day.

Home Prices in Blaine

We ended 2013 with a total of 1,121 homes sold for the year. The average sales price of a Blaine home was $232,362, a 10.5 percent increase over the previous year. This is great news for Blaine homeowners who are thinking of selling. The price per square foot also increased from the previous year – 11.4 percent to $107 per square foot.

Other Blaine Real Estate Market Statistics

Almost 30 percent of home sales last year were condos and townhouses. Because these homes are typically less expensive, the average home price for the market tends to be weighted downward when there are a lot of condos in the mix. So, although the average home price in Blaine is $232,362, plan on spending a bit more if you’re in the market for a single-family home.

Blaine homes remained on the market an average of 67 days. This is 36.9 percent fewer days than 2012. So, homes are selling quicker and for higher prices. Homeowners may still be underestimating the market, however, because they are only receiving 97.5 percent of their original list price.

There is nothing inherently wrong with this other than that homes take longer to sell when they are overpriced. If you’re thinking of selling your home and you need to sell quickly, price it competitively from the outset.

Looking for Blaine real estate? See all Blaine homes for sale including area info & neighborhood amenities. Contact Kris Lindahl online or by calling 763-607-1415 to request a complimentary consultation so he can demonstrate how he'll put technology on your side when buying or selling a home.

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