The real estate market continues to show a strong improvement in Blaine, Minnesota. There is a significant increase in new listings and average price of a home sold in 2014 over 2013. Almost all of Blaine’s lender mediated foreclosure/short sale homes have worked their way through the system and once again, higher valued new construction is having a positive effect on the average sales price. The average price per square foot has increased another 8% from $107/sq ft to $116/sq ft. This is significantly higher as it was under $90 just a few years back. Closed sales have stayed relatively stable no doubt the fact that there is new construction transactions helps as many neighboring communities struggle to keep up the base due to lack of inventory. . Homes also sell quickly in Blaine, staying on the market an average of just over 2 months. This is well under the 4 month sales time in 2011. Home sellers received nearly asking price in 2014 with accepted offers at 97% of list. This north metro community has sold through most of its current home inventory so 2015 might be a good time for a traditional seller with a starter home to make their move as sellers seem to have the upper hand again.
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