Real Estate Blaine MN Weekly Market Numbers
For The Week Ending August 22, 2020
The real estate market is still performing pretty well amid the Covid outbreak. The lack of inventory and low mortgage rates are keeping home values and demand from buyers very high.
Here are some key numbers:
Last week in Blaine there were 16 new homes listed for sale and 6 others listed as a coming soon status that will hit the market within 60 days. That brings the total number of homes for sale to 138, down nearly 50% from August of 2019.
There were 32 new pending (under contract) homes sales last week bringing the total pending sales to 196.
Closed sales last week totaled 20, bringing the total ytd sales to 772, down slightly from last years number of 799.
There is currently a 1.5 months supply of homes for sale, historically low, and is the main reason their are not even more homes sales.
This year brings many challenges such as the Covid 19 outbreak, election year, serious weather events such as wildfires, simultaneous tropical storms, and a derecho in Iowa! If you would like more information for Blaine, or any other market you are interested in, please contact me!