The number of new listings and closed sales both dropped significantly in Circle Pines Minnesota in 2013. This is a community with a demand from buyers but very low and inventory levels. This is a small Anoka County community, just north of Shoreview, and in the Centennial school district. The very low inventory had homes closing quickly and for higher prices than in 2012, up for the third consecutive year. This time up prices edged up another 5% to just over $155K in 2013. Likewise, the average time on the market was affected significantly; dropping by 41%. Home are selling in just over 2 months in Circle Pines which is much faster than in surrounding communities. The price per square foot statistic is a bit higher but remains affordable at $91, but still than in other areas. The ratio of percent received versus list price also rose again in 2013 from 95% to 97% showing that sellers in Circle Pines are getting much closer to asking price for their homes.
As we head into the spring market, housing inventory remains low but buyer demand is high. Sellers could find 2014 a good year to list their Circle Pines homes. This area appears to have become a bit of a seller’s market, where sellers have the negotiating advantage. With continued low interest rates, home buyers are still out their looking for the perfect place to call home despite our tough winter. Home owners considering selling in 2014 and hoping to get the most leverage from the improved market should consider listing their homes before we get too deep into the spring market and there is additional competition.
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