Market Numbers For Real Estate in Blaine MN In July 2020
Here are some key market numbers for July in Blaine:
Median Sales Price Over All Categories - $303,000, up 10% from last year.
Median Sales Price For Single Family Properties - $346,000, up 17% from last year.
There were 159 closed sales in July 2020, which is even with July 2019.
There are 160 Pending transactions in July, up from 126 in July 2019, +27%.
There are 155 total homes for sale in Blaine, down roughly 32% from July in 2019!
What Do The Numbers Mean?
These numbers look really good given the current environment and all the uncertainty surrounding the Covid 19 outbreak. Real Estate has been performing fantastic in Blaine and surrounding areas. Low inventory has bolstered market values and limited the days on market to sell your home, which was down to 15 days in July!! Also helping quite a bit is low mortgage rates which fell to under 3%!!
Bottom line it is a GREAT time to sell your house and a challenging time to purchase.
For more information on the Blaine Real Estate Market please contact me.