The number of new listings decreased considerably in Blaine, Minnesota through 2011 as did the average sales price. Blaine’s lender mediated foreclosure/short sale homes in the lower price points that worked their way through the system continued to affect the average sales price. With this the average price per square foot dropped over 11% from triple digits to $88/sq ft. The lower pricing has brought out the buyers as closed sales are up for Blaine in 2011 over 2010. Listings are moving at relatively the same pace taking just a week longer to sell than in the previous year, up from 125 to 132 days on the market. Blaine sellers did receive a bit less than asking than in 2010 but still over 92% This north metro community has sold through most of its current home inventory and remains an affordable option for first time home buyers. With low levels of inventory in the lower price points, 2011 might be the year for a traditional seller with a starter home to have the opportunity to move up in Blaine, Minnesota.
For additional details on the inventory levels in Blaine, MN at the end of 2011, Click HERE.
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