Real Estate Blaine Weekly Market Numbers For March 1, 2021
Here are some key numbers from last week:
New Listings - Last week there were 26 homes listed for sale in Blaine, 5 were in a coming soon status, bringing the total to 79.
Pending Sales - 19 homes went Pending (accepted offer no contingencies) waiting to close, bringing the total Pending sales to 119.
Closed Sales - There were 10 closed sales last week in Blaine, vs. 13 last week and bringing the total closed sales to 111 as of March 1, 2021, down from 121 sales for the same period in 2020.
The good news is there were more homes listed last week verses new pending homes sales which should in increase the inventory of homes for sale ever so slightly. Low mortgage rates and low inventory has kept buyer demand for homes extremely high. This has also driven market values up almost 11% from last year to a median value of $310,000. This still remains a great time to sell a home, but there are signs that mortgage rates are increasing and more home sellers may be getting the message and there might be increased competition this Spring. The Spring market is starting to show signs of life as each week more properties are hitting the market and the Spring Parade of Homes started last weekend.