August housing market statistics are in and we’re seeing more changes in the Blaine real estate market.
Good News for Blaine Home Sellers
Real estate market news just keeps getting better and better for Blaine homeowners that are thinking of selling their homes. Since August of last year, the median sales price of a Blaine home has increased more than 18 percent and now stands at $232,500.
A note of caution, however: the percent of the original list price that sellers are receiving has decreased a bit, to 97.6 percent. This may be an indication that home prices are about to soften but it’s more likely evidence that homeowners are overpricing their homes.
Price the home appropriately out of the gate to avoid having it languish on the market.
Finally, the number of days that homes are remaining on the market has gone down from this time last year, to 64 days.
The News for Blaine Homebuyers
What a mixed bag of news for Blaine homebuyers! The best news for you is that there are more new listings this year than there were last year, that statistic has increased 12 percent. We have an 18 percent larger inventory in Blaine this year as well, which should help ease some of the multiple-offer situations.
Despite more sellers listing their homes, however, the number of closed sales is down almost 15 percent from last year. This may be an indication that homeowners are overpricing their homes or that the homes on the market aren’t up to snuff. It will take a few months of watching this figure to determine what it means.
Since prices are increasing, however, the time to jump into the market is now before they rise even further. Check out some of the amazing Blaine homes for sale here on BlaineHomeSource.com.