Snapshot of Home Sales Statistics in Chisago, MN Year End 2012

 

There is a saying that real estate is local and nothing is more true than in Chisago, MN in 2012. Overall, the housing market made a positive turn in the Minneapolis/St Paul metro area in 2012. But sales in Chisago, tell a different tale. After sales nearly doubling from 2010 to 2011, there were only 64 homes sold in Chisago in 2012, down 34.7%. New listing were down too, just like most of the northern metro area. But the average sales price show a good increase of over 8% in 2012 compared to 2011 coming in at just over $189,000. Sellers are got closer to asking price in 2012 now over 93% compared to 89.9% in 2011. Market time dropped significantly for three consecutive years. It now takes an average of 141 Days on Market or around 4 months which is similar to other north metro suburbs. The price per square foot in Chisago is also heading back up after a dip in 2011. It now stands  at $93/sq ft  compared to $90/sq ft in the previous year Buying a home in Chisago still appears to be an affordable option as we head into 2013 but with lower inventory, buyers would be advise to write offers quickly on any home that you like as it could be gone tomorrow.