The Minneapolis Area Association of REALTORS has released their December housing market statistics and there’s lots of good news in them for homeowners thinking of selling a home in Blaine.
There’s also a bit of good news for those hoping to buy a house in Blaine.
More homeowners listed their homes for sale in Blaine in December 2014 than the previous December. New listings increased 6.1 percent. The problem, at least for buyers, is that more homes sold – closed sales increased 21.3 percent over last year – so the overall inventory of available homes in Blaine decreased 1.3 percent.
Homeowners take note: the median sales price of a home in Blaine increased 9.1 percent to $227,500.
Homes remained on the market longer than in December 2013 – from 62 days to 67 days, but this is probably because of the holidays. We’ll get a better picture of this statistic when January’s numbers are released in February.
How We Stack up Against Other Areas
The story for our neighbors in Coon Rapids is almost the opposite. There, the number of new homes to hit the market decreased and the number of closed sales was down 28.3 percent. The median sales price did increase, though, 7.1 percent to sit at $164,900.
Ham Lake’s market is looking good. Prices are up almost 2 percent, to $269,000 and they experienced a 50 percent increase in the number of homes to hit the market.
The Twin Cities metro region housing market, overall, saw the number of new listings and the number of closed sales decrease, but the median home price increase to $200,000. That’s a more than 5 percent increase over the median sales price of Twin Cities’ homes in December of 2013.
Overall, the Blaine housing market is looking quite healthy, which belies the myth that winter is a horrible time to buy or sell real estate. For more on that, read this.