Real Estate in Blaine MN Weekly Market Report
June 6, 2022
Here are a few key numbers from last week:
New Listings - Last week 26 homes were listed active on the market and 9 coming soon listings were added, of those 21 were previously owned single family homes. 8 of those already sold and went Pending and 2 more accepted offers with other contingencies.
Pending Sales - Last week 26 homes went into a pending status waiting for close date bringing the total to 173.
Closed Sales - Last week there were 22 closed sales down from 39 last week and bringing the total for the year to 422 which is down from 443 for the same time period last year.
Lately the number of transactions follows the number of new listings that hit the market. This is still true but higher mortgage rates and high inflation costs are starting to creep into buyers ability to afford the high priced homes. We are starting to see a few more price reductions and slightly longer days on the market. Well priced and homes that are in decent shape are still selling the first weekend on the market and it is still common to see multiple offers. The message is it is still a fantastic time to sell a home so if you are thinking of making a move and are curious if the time is right please contact me now!