Real Estate In Blaine, MN Weekly Market Numbers
April 4, 2022
Here are some key numbers from last week:
New Listings - There were 38 new listings last week, of which 15 were previously owned single family homes. This brings the total number of homes for sale to 102.
Search home for sale in Blaine.
Pending Sales - 27 homes went into a Pending Status last week, bringing the total to 141.
Closed Sales - There were 25 closed sales last week in Blaine, bringing the total for the year to 189 versus 220 this time last year.
Get a Free Home Valuation Here.
Transactions are a little slower but picking up into the Spring months as sellers want to take advantage of what they may feel be the last great Spring sellers market. Buyer demand remains strong as they try to take advantage of raising but still historically low mortgage rates. As inventory rises, so will transaction count. Market values continue to increase and will until the buyer demand diminishes to falling buyer affordability.
Challenges remain, however. Rising mortgage rates and inflation are creeping into buyers pockets and the affordability number is becoming an issue. Other issues such as the Ukraine conflict, the always concern of Covid-19 outbreaks and variants, and the November election will have an effect on the market later in 2022.
For more information on your specific market please contact me here.