January 2016 Blaine Real Estate Market Update

Posted by Kris Lindahl on Monday, January 25th, 2016 at 7:59am.

 

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 month! Blaine actually ended 2015 on the upswing, with 1.9 percent more new listings than we had the year before.

Median Sale Price in Blaine

The median sale price of a Blaine home decreased from December of 2014 to December of 2015 but we ended the year with an overall increase in price and it now sits at $220,000. This is much better than December’s median sale price of $197,500  but not quite as good as November’s $222,500.

Buying a House in Blaine?

The current inventory of homes for sale is one of the statistics used to determine if we’re in a buyers’ or sellers’ market. The inventory dropped 11 percent from November 2014’s number to November 2015 and then 11.5 percent in December compared to December 2014. We ended the year with an overall 2.0 month inventory of homes for sale so expect lots of competition for Blaine homes for sale.

Selling your Blaine Home?

If you’re thinking of selling your house in Blaine, plan on it staying on the market for about 58 days (that is the average time spent on the market for all of 2015) and making 97.8 percent of your original list price. Oh, and plan on a huge THANK YOU from the Kris Lindahl Team. We have so many buyers right now and too few homes to show them.

If you plan on waiting until spring to sell your home, get to work on the things you should be doing right now to get it ready for the market.

Kris Lindahl
Kris Lindahl Real Estate
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