First Time Homebuyer Real Estate Stillwater MN
Stillwater, Minnesota and surrounding communities like Oak Grove Heights and Bayport do have opportunities for the first time homebuyer. Well priced single family homes and townhomes can be found throughout the area. With home prices averaging $116/square foot compared to $90/sq foot in other eastern metro communities, it may take some searching. But deals can be found for first time homebuyers who are diligent in their home search.
In the eastern Washington County community of Stillwater, MN new listings and average sales price were the only real estate indicators with a significant year to year change from 2010 to 2011. New listings were down nearly 21% from 662 in 2010 to 518 in 2011, while closed sales were up by less than 1%. The average sales priced dropped just over 5% to $246,480, down from $260,161 in 2010. Homes are bringing in an average price per square foot of $116 which is much better than other communities in the northeast Minneapolis/St. Paul area but still down a bit from $120/sq ft that homes in Stillwater were getting on average in 2010. Like most other north and east metro suburbs, sellers are getting just over 90% of their asking price; also down from 91% in 2010 but the change isn’t significant The average time on the market to sell a home was pretty flat dropping from 173 in 2010 to 172 in 2011. Again this statistic is comparable to other surrounding neighborhoods. These end-of-year average statistics are just a snapshot of the Stillwater real estate market as it continues to move toward becoming balanced.