Real Estate in Blaine, MN Weekly Numbers
Week ending February 6, 2022
We continue 2022 with the trend of low inventory and high buyer demand in the market the Twin Cities and Blaine markets. Here are some numbers from last week and overall.
Currently there are 84 homes for sale in Blaine, of which, 27 are previously owned. At the end of January the median home price increased to $340,000 from $306,000 last year.
Here are some numbers from last week:
Pending Sales - 11 homes went under contract last week bringing the total pending sales to 78.
Closed Sales - Last week there were 16 closed sales in Blaine, bringing the YTD total to 78 vs. 79 this time last year.
Inventory - The months supply of homes (how quickly it would take to sell the remaining homes on the market if there were no more new listings) remains at 1.2 months, down almost 30% from last year. That brings the average days on the market to 28 days(25 if you exclude new construction), 11 is the median.
In summary it remains a great time to be a seller in this market. Mortgage rates have crept up to around 3.7% but that hasn't slowed buyers down as multiple offers remain the norm and not the exception.