Market Report For Blaine Last Week
Week Ending 02/03/2024
Here are a few key numbers from last week:
New Listings - There were 18 new listings last week, 5 of which accepted offers already, and 6 were new construction homes. This brings the total number of homes for sale in Blaine to 138 which is down a bit from 173 in February of last year.
Pending Sales - 26 homes went into a 'Pending' status waiting to close, bringing the total number of Pending sales to 96.
Closed Sales - 17 homes closed last week in Blaine, the total which is about equal for the same week last year, but January was down about 35% year over year for closed transactions.
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Quick Market Summary
The story remains the same in Blaine as it does the Twin Cities and National markets, low inventory is causing low number of home sales and putting stress on buyers trying to find homes. Higher mortgage rates and the lack of homes for sale have made it less desirable for anyone that would like to sell but does not have to. Buyer demand remains strong as we are still seeing homes selling in multiple offers and at a fairly quick pace historically. (Avg. days on market was 30 in January, 2024)
It remains a great time to sell your house if you want or need to sell.
Pleas contact me if you would like more information on the Blaine market or curious about your own.