Blaine Real Estate Reports

There are currently 16 blog entries related to this category.

 

As we put the 2015 Blaine real estate market to bed it’s interesting to look back and see exactly what went on. So, let’s take a look at what happened last month in the Blaine real estate market and how we fared for 2015.

Remember, our local MLS releases its market statistics a month behind, so although these statistics are from December, 2015, they are considered the most recent numbers. But we do now have the full year’s picture to take a look at.

New Listings in Blaine

Last month we congratulated and heartily thanked Blaine homeowners for finally deciding to sell. After all, new listings were up for the month, about 19 percent. December saw a decrease of 13 percent fewer listings than December of 2014 so no congratulations for you this

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Crunching the Blaine real estate market numbers at the year’s end is always interesting. We now have an almost 12-month trend to look at and we can clearly see what happened and where we might be headed in 2016. Of course, the Feds are talking about raising interest rates again throughout 2016 which will naturally change everything. But, let’s take a look at what happened last month in the Blaine real estate market and how we fared for 2015.

Remember, our local MLS releases its market statistics a month behind, so although these statistics are from November, 2015, they are considered the most recent numbers. We won’t have the full 12-month picture from 2015 until mid-January 2016.

New Listings in Blaine

Hey, Blaine homeowners – thanks for

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Typically, when the number of home sales increases and the number of new listings decreases, our first thought is that prices must surely have gone up. I mean, it’s supply and demand at work and clearly, if fewer homes are on the market and those that are on the market sell quickly, supply is outpacing demand.

Oddly, the Blaine housing market is bucking conventional wisdom.

Our local MLS releases its market statistics a month behind, so although these statistics are from June, 2015, they are considered the most recent numbers.

New Listings in Blaine

In a word: there aren’t any. Well, not when comparing the numbers from last August to this; we had 8.2 percent fewer home listings. Last month we saw an increase in this number but it and the

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“So, Kris, is it still a seller’s market?”

It’s a question I hear on a daily basis and the answer is the same this month as it was last month: Yes, it is.

Our local MLS releases its market statistics a month behind, so although these statistics are from July, 2015, they are considered the most recent numbers. Let’s take a look at exactly what makes this current market ideal for Blaine homesellers.

New Listings in Blaine

Last month we saw a big jump in the number of Blaine homeowners who listed their homes for sale. This month, that number has decreased 1.2 percent from this time last year to 166.

It appears that all those homes that hit the market were snatched up quickly. In fact, the number of days that a Blaine home remains on

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An interesting aspect of any real estate market is that when more homes are listed for sale yet even more sell, the area’s inventory decreases. That is exactly what we’re seeing in the Blaine real estate market right now and the opposite of what's happening in other markets around the Twin Cities. In fact, Edina is seeing the flip side of Blaine's situation.

Our local MLS releases its market statistics a month behind, so although these statistics are from June, 2015, they are considered the most recent numbers.

New Listings in Blaine

The number of Blaine homeowners that have decided to list their homes for sale increased more than 14 percent. If you recall, last month that number was down slightly, so this is good news for Blaine home

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A lot of folks, especially those of you that live in the northern part of Blaine, have been asking us what’s going on with all the construction up around Harper and 128th Avenue. What’s going on is Wagamon Ranch, another new home community for Blaine.

Several builders (Hanson, Regency and Gorham) are planning on putting up homes that, so far at least, will be priced in the $500,000s.

The community will take up 92 areas of designated wetland so you can imagine the headaches during the approval process. All is well, though, and we can look forward to a sparkling new neighborhood with a clubhouse, pool and trails.

Last week, Blaine’s city council met to approve a bunch of other new sites as well, including a new one at The Lakes, a

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Yes, it’s still a hot and heavy seller’s market in Blaine, but don’t take our word for it ― check out the latest statistics.

Blaine homeowners listed 1.1 percent fewer homes in May of this year compared to last, but more than 38.9 percent of the current inventory sold. This means that the inventory of available homes in Blaine has shrunk even more; we now have only a 3.1 months’ supply of homes for sale. Typically this situation will cause a rise in prices (supply and demand).

And it did, but only slightly. Median home prices in Blaine increased less than 1 percent from last year, to sit at $222,000. In April, by the way, the median sales price was $237,000. Blaine homeowners are realizing, on average, 98.5 percent of their original asking

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Our local MLS produces market statistics every month, based on last month’s real estate market activities. As you can see, the spring home sale market is definitely underway. Let’s take a closer look at the numbers.

 Here’s the market, in a nutshell:

  • Fewer homeowners listed their homes for sale than they did during this same period last year.
  •  We also closed 2 percent fewer sales in Blaine than we did last year.
  •  The median sales price of a Blaine home increased 4.5 percent to stand at $237,000.
  •  Blaine homeowners are realizing 99 percent of their original list prices, a figure that represents an almost 3 percent increase over last year at this time.

Homes are selling very quickly, spending 63 days on the market, on average,

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We took a quick look at which Blaine home listings are getting the most attention from our website visitors and three of them win big. Read on to learn about the STARS of the Blaine real estate market.

Homestead Acres

If you’re looking for low-maintenance living with the feel of a single-family home, you can’t go wrong with a townhome. This one is a beauty, located in a peaceful neighborhood and priced at only $130,000.

This townhome features 2 bedrooms and 2 bathrooms in 1,368 square feet of living space.

Unlike most condos you might find in this price range, this home has its own 2-car garage underneath. It’s a corner unit as well, providing even more quiet and privacy.

Inside you’ll find tile floors in the entry way and bathrooms,

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A tight budget shouldn’t keep you from buying a home in Blaine. The key is to keep your expectations realistic. Let’s face it, you won’t find an estate for less than $125,000 anywhere in the country, let alone in Minnesota.

Don’t let fixer homes scare you away, either. The Federal Housing Administration (FHA) offers guaranteed loans that allow borrowers to finance both the purchase of a house and the cost of its rehabilitation. The rehab costs are rolled into the loan so that you have a single mortgage payment each month. It’s an amazing program that I’m happy to discuss further with you.

Another way to get the home you want is to build it.

The current Blaine real estate market has plenty of low-priced properties on the market from which to

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