Real Estate Blaine Minnesota Weekly Market Numbers
December 7, 2020
Here are a few important numbers from last week in the Blaine Real Estate Market. If you would like information for your market please contact me here.
New Listings - There were 17 new listings last week, bringing the total homes for sale to 80.
Pending Sales - There are 125 Pending sales in Blaine, 12 of which were from last week.
Closed Sales - There were 36 closed sales last week, bringing the total YTD sales to 1225 up from 1163 in 2019.
New listings and homes for sale (or lack there of) continue to be the story in 2020, we fell under a 1 month supply of homes for sale to .7 in November. This is encouraging if you would like to sell your home but frustrating if you are a buyer. Mortgage rates continue to hover around historic lows and the lack of inventory keeps driving market values up. Affordability will likely start to level off home value increases in the near future. The Spring of 2021 could see a nice increase in listing activity as there could be a group of sellers that have hesitated to sell due to the Covid Pandemic and lack of homes to purchase when they do sell.