Market Update: Blaine, MN March 2012 (Prices are stable for 1 1/2 & 2 Story Design Homes)

By
Real Estate Appraiser with Michael S. Bolton,Inc.

The City of Blaine, MN | Market Update

For every appraisal it's important to determine as to whether values are increasing, decreasing, or are remaining stable (click here for detailed article on how this is done). The MLS indicates that prices for the city of Blaine, MN Increased for the month of March, as well as year to date. This is for all types of properties that have sold within the city of Blaine, MN. This is not what is happening for older 1 1/2 & 2 story design homes over the past 12 months (see below) in the selected neighborhood area.

The data for this market update is based on the above search criteria over the past 12 months.

The homes that were selected for this trend line were all single family 1 1/2 & 2 story design homes within the city of Blaine, MN for the past 12 months; for the exact search criteria see the map above. This market analysis indicates that prices are considered to be stable or slightly decreasing as indicated by the chart above. Distressed sales (Bank REO's & Short Sales) are considered a factor in the market, and they make-up approximately 50% of the sales. The decline in inventory levels (51%) will have a positive impact on values.

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Rainmaker
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Roy Kelley
Retired Real Estate Broker, Maryland Blogger

Very good evaluation lesson for real estate professionals and their clients.

Have an outstanding weekend with your camera in hand.

June 09, 2012 03:35 AM
Rainmaker
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Lisa Von Domek
....Experience Isn't Expensive.... It's Priceless!
Lisa Von Domek & Associates LLC, Real Estate Broker/Associate with Real Living Real Estate Group www.LisaVon.com

Hello Michael,

So glad to hear it - busy is a great thing.  Have a wonderful weekend!

June 09, 2012 11:43 AM
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Joni Staples
Your Huntsville / Lake Livingston Area REALTOR®
Berkshire Hathaway Home Services - Anderson Properties

So good to see you back!  Thanks for another great marker report!

June 10, 2012 05:16 AM
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Susanna Haynie
Colorado Springs Realtor - CNE, MCNE, ePro - Cell:
Falcon Property Solutions, LLC

Michael, it seems that a lot of markets are similar to yours - I know ours is. But I am surprised that I really haven't read anything significant in the news about this trend. If buyers listen to that (and i have them tell me every day that they do) then in their mind they think they still have all the choices and can take their time before making an offer.

June 14, 2012 10:04 AM
Rainmaker
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Roy Kelley
Retired Real Estate Broker, Maryland Blogger

I hope you are having an outstanding week.  Keep cool with a camera in hand.

June 21, 2012 09:44 AM
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Michael S. Bolton

MN Appraiser
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