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

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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
341,957
Lloyd Binen
Certified Realty Services - Saratoga, CA
Silicon Valley R since 1976;408-565-8177

Welcome back.  I guess you have a little time for another excellent market report.  Thanks and take care and have a great weekend.

Jun 08, 2012 12:24 PM #1
Rainmaker
1,183,238
Lisa Von Domek
Lisa Von Domek & Associates LLC Team at Real Estate Broker/Associate with Real Living Real Estate Group www.LisaVon.com - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Welcome back Michael, was wondering where you were - hope all is well!

 

Jun 08, 2012 12:40 PM #2
Rainmaker
738,125
Chuck Carstensen
RE/MAX Results - Elk River, MN
Minnesota Real Estate Expert

He's back. Wow inventory is down from 7 months to 3.5 months and if you take the junk that will never sell off then its more like 1.5 months.

Jun 08, 2012 01:27 PM #3
Rainer
146,012
Michael S. Bolton
Michael S. Bolton,Inc. - Zimmerman, MN
MN Appraiser

Hey Lloyd-Yes, it's time to get back into the swing of things. Hopefully it won't quite as crazy in the coming months. The last three months have been super busy!!!!

Thanks Lisa! All is well, just been busy.

Chuck~I always forget about the "Junk" factor!!!

 

Have an AWESOME weekend!!!

 

 

Jun 08, 2012 01:55 PM #4
Rainmaker
2,115,517
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

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

Have an outstanding weekend with your camera in hand.

Jun 09, 2012 03:35 AM #5
Rainmaker
1,183,238
Lisa Von Domek
Lisa Von Domek & Associates LLC Team at Real Estate Broker/Associate with Real Living Real Estate Group www.LisaVon.com - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Hello Michael,

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

Jun 09, 2012 11:43 AM #6
Ambassador
1,118,532
Joni Staples
Berkshire Hathaway Home Services - Anderson Properties - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTORĀ®

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

Jun 10, 2012 05:16 AM #7
Rainer
149,761
Susanna Haynie
CO-RE Group, LLC -Real estate sales and services - Colorado Springs, CO
Colorado Springs Realtor - GRI, CNE, MCNE, ePro

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.

Jun 14, 2012 10:04 AM #8
Rainmaker
2,115,517
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

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

Jun 21, 2012 09:44 AM #9
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Michael S. Bolton

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