| ||||||||||||||||||||||||||||||||||||||||||||||||||||
What an awesome opportunity to help another Champlin home seller! It was a pleasure working with them from beginning to end! In any seller's market, it is not uncommon to be in multiple offer scenarios when you go to submit an offer on a property. Multiple offers are where more than one buyer is presenting their offer to a seller. This can really be any amount of offers even 10 or more on a really hot property. The situation is typically handled by the seller giving all qualified buyer's the opportunity to give their highest and best offer, which is usually presented to the seller all at once with a specific deadline. The seller then will go through the pros and cons of each offer presented and determine which offer will be chosen.
This Champlin Home is now sold! Since we’re still in a hot seller’s market, this Champlin home for sale actually sold in just 1 showing the first day! According to the seller’s net sheet, this seller was able to negotiate an offer higher than the originally projected net! The buyer on this property wrote a competitive offer on day one and did not ask the seller to contribute any closing costs. In Minnesota, it’s very common for the seller to contribute some sort of closing costs, otherwise known as seller concessions. The norm in Champlin is 3% but remember this can be negotiable.
This Champlin homeowner was pleased with the offer that came in. This Champlin single family home for sale is located just off West River Road near the new dam and all the great new things coming by the Mississippi River.
The offer was accepted on the property a few days after listing and closed July 20th for $300,000 and no seller contributions.
CHAMPLIN HOUSING INVENTORY TRENDS
The number of active listings in Champlin (55433) increased by 19.6% from the previous month. The median number of days active properties have been listed is 35. This is significantly shorter than the national average. The number of sales in May dropped by 24% from the previous month.
The current Champlin market remains a seller's market. The demand for housing is not meeting supply. Currently, Champlin 55316 has 96 active properties with 69 of them listed without any offers or contingencies. This may seem like a lot of homes for sale in Champlin, especially during a time of low-inventory but this is greatly due to Champlin New Construction homes for sale in the Reserve at Elm Creek new construction neighborhood. These home prices are starting in the $500,000 and up which accounts for 16 of the currently listed Champlin homes.
The average of the Champlin homes for sale is $367,490 with accumulative days on the market of 53 days. That is actually pretty long compared to just a couple months ago when our average market time was 23 days. Again, the new construction neighborhoods in Champlin screw our actual days on market because many of them are listed as a "to be built" home or a spec home and usually will sit on the market during their average built time which is typically 120 days for most builders.
The percent of unoccupied properties is very low in Champlin (55316). It is -12.08% below the national average. The percent of rental properties in Champlin (55316) is 19.98% above the national average which is typical for urban areas.
Median household income in 55316 is $84,888 with 270 households earning between $35,000 to $40,000 annually. Income levels are listed along the left side of the chart, and the number of households is displayed along the bottom.
For the zip 55316, 26.89% of the people have completed a bachelor's degree as their highest education level. 8.51% have earned a graduate degree and 13.93% have earned an associate degree.
- Champlin Single Family Homes under $100,000
- Champlin Single Family Homes under $200,000
- Champlin Single Family Homes under $300,000
- Champlin Single Family Homes under $400,000
- Champlin Single Family Homes over $500,000
- Champlin condos, townhomes, townhouses
- Champlin Waterfront Properties
The median age of residents in Champlin is 39, with 48% of residents being married. Current statistics suggest Champlin has roughly 8,438 households, of those households 3,248 of them having children. Find all Champlin Home listings. If you need more information about the Champlin area you can visit my Champlin community pages where you can find more information about local pricing, School information and more.
The data on this page is consolidated from multiple sources and includes current listings, recent sales, and more. Whether you're a buyer or seller, the knowledge you gain will help put you in control of your real estate transactions. Call or email anytime to discuss how this information can benefit you! 612.807.4858
Thank you for reading my Heidi Herda's Real Estate blog, "Heidi Herda Realtor - Sells Another Champlin Home Over List Price!!!" You may search additional 
Comments(1)