First Time Homebuyer Statistical Snapshot of Chisago MN Home Sales

 

First time homebuyers in the northeast Twin Cities area would be wise to the Chisago Lakes area for their first home. There are many affordable options including townhomes, single family homes, newer construction and turn of the century classics. This community is one of a very few that can use USDA financing which is a unique zero down option program for buyers that have a qualifying income level.

 

The real estate market really made a positive turn in Chisago, MN in 2011. Sales nearly doubled, up 69%; from 58 homes sold in 2010 to 98 sold in 2011. It was not at the expense of other stats either. The average sales price was almost dead even with the average in 2010 at just over $174,000. New listings were down nearly 7% so the market is more balanced than it has been for awhile in this northeast metro community just outside of Forest Lake. Sellers are receiving only slightly more than they did in 2010 with as the accepted sales price ratio compared to list price ratio is down just a bit. Market time also dropped significantly for the second year in a row. It now takes an average of 186 Days on Market or approximately 6 months which is similar to other north metro suburbs. The price per square foot in Chisago did slide a bit from $94/sq ft in 2010 to $90/sq ft which is comparable to other northeast metro suburbs. Buying a home in Chisago appears to be an affordable option into 2012.