The above chart indicates some of the more popular stat's for homes situated within the City of Big Lake, MN over the past 7+ years. As you can see each year is fairly consistent, other than the median selling price, which has declined over the past few years. This is for all designs of single family homes (excludes town homes and condos). This type of data is used when analyzing market areas within an appraisal to help determine trends, and to help assist in determining the right comparable sales to use.


The graph indicates that there was a precipitous decline in value from 2007 to 2009, and then again in 2011. The bump in prices in 2010 is most likely due to the result of the home buyer tax credit that ended in April of 2010. The tax credit increased demand, which unfortunately only had a short term affect. Follow this link for a detailed analysis of distressed sales (foreclosures, REO's, and short sales) of homes within Sherburne County.

 

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Posted by Michael S. Bolton-MN Appraiser on 02/19/2012 08:56 PM   Comments (2)  
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2 Comments on Housing Statistics For Big Lake, MN (2005-2011)

FEB
20
2012
1,439,490 Points 26 Featured Posts Outside Blog Called Shot Master

Excellent statistics.  Home buyers should love the affordable prices in the area.

Have an outstanding week!
10:47am • #1
291,825 Points 20 Featured Posts Outside Blog Called Shot Master

Michael,

I like the names of your cities, like Big Lake.  I agree with Roy, looks like there are some excellent values in Big Lake.  I do believe that prospective buyers who decide not to purchase a home will eventually regret their decision.  Not just because of low prices, but also insanely low 30-year fixed rate loans which we'll likely never see again.
5:11pm • #2


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Michael S. Bolton-MN Appraiser

Zimmerman, MN

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