Last Week Real Estate Numbers For Blaine, MN
Real Estate in Blaine MN is starting off where it left off in 2021. Very low inventory, high buyer demand, and increasing market values.
Here are some basic numbers for the week beginning 01/17/2022:
Coming Soon Listings - 4
Total Active Listings - 93
Single Family Homes For Sale - 66, of which only 17 are previously owned, the rest are new construction.
Town Homes For Sale - 27
Total Pending Sales - 28, of which 6 were from last week.
Total Closed Sales YTD 2022 - 27
Last Week's Closed Sales - 3
Prior Week's Closed Sales - 18
Market values are up 11% year over year to a median sales price of $339,000, which is good for sellers but we are reaching a point of lack of affordability for buyers. Mortgage rates are ticking up a bit and have increased about .75%. Increasing mortgage rates and high inflation numbers give us a little concern for the future of the real estate market later this year. We will have to keep an eye on it but it remains a fantastic time to sell a home in Blaine in 2022.
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