First Time Homebuyer Real Estate Shoreview MN

Shoreview, Minnesota is an attractive community for first time homebuyers to consider in 2012. Its central location to both downtown St. Paul and Minneapolis combined with abundant parks, lakes and community activities make it a great community to consider for a first home. Eclectic housing options at various price points allow a first time buyer to consider a small single family residence or townhome as a first home. With average price per square foot down significantly, Shoreview might have opportunities that wouldn’t have been available to the first time home buyer a few years ago.

In the centrally located Ramsey County community of Shoreview, MN new listings were down in 2011 along with almost every other real estate indicator except for days on the market. New listings were down nearly 14% while closed sales down by roughly 8%. Likewise the average sales priced dropped considerably to just over $200,000, down from $233,000 in 2010. Homes are bringing in an average price per square foot of $102 which is comparable with other communities in the northeast Minneapolis/St. Paul area but still down considerably from $114/sq ft that homes in Shoreview were getting on average in 2010.  It is apparent that distressed properties are continuing to work their way out of this community. Sellers are getting just over 90% of their asking price; also down from nearly 92% in 2010 but also comparable to other neighboring communities. The average time on the market to sell a home, rose just a bit from 136 to 142 days on the Shoreview market. Again this statistic is comparable to other surrounding neighborhoods. These end-of-year average statistics are just a snapshot of the Shoreview real estate market as it continues to move toward becoming balanced.

For additional details on home sales in Shoreview MN at the end of 2011, Click HERE.

Are YOU ready to buy a home in Shoreview, MN?