NorthstarMLS provides Realtors® with statistical data for real estate sales. We receive reports for the entire Twin Cities Area, which includes Chisago County, as well as individual County and City reports.
The median sales price in 2017 for the Twin Cities Area was $246,000, which was a 7% increase over 2016. The median sales price for Chisago County was $229,900, up 9.5% from $209,950 in 2016.
In the Twin Cities Area, new construction made up 11.9% of the 2017 home sales compared to 11.2% in 2016. Distressed properties (foreclosures) were down from 12.7% in 2016 to 4.6% in 2017. Isanti County had the highest percentage of new construction homes at 16.7% of homes sales, and Kanabec County had the highest percentage of distressed property sales at 11.8%.
Chisago City, ranked 16th for the highest number of new construction homes closed in 2017, in the Twin Cities Area. Chisago City had the highest median sales price in Chisago County at $255,000, an increase of 2% from $250,000 in 2016 and new construction homes represented 22.1% of the closed sales. However, new listings in Chisago City were down 11.4%, closed sales were down 20% and new construction sales were down 2.5% from 2016.
Lindstrom had the highest percentage of condo/townhome sales in the county at 16.3%, and 16.3% of the home sales in Lindstrom were new construction. The median sales price in Lindstrom was $225,000 in 2017 up 6.2% from $211,814 in 2016.
Wyoming, North Branch & Rush City had the highest increase in median sales prices in the County; 10.1%, 10.4% and 11%, respectively.
Stacy had the highest increase in closed sales up 23.8% from 63 in 2016 to 78 in 2017.12.8% of the closed sales in Stacy were new construction homes compared to 3.2% in 2016.
The Twin Cities Metro real estate market (includes Chisago County) has now recovered from the 2008 market crash. The average closed price in 2007 was $274,109, which dropped to the low point of $192,063 in 2011, and reached $293,674 in 2017, up from $273,088 in 2016.
With our inventory shortage, now is a great time to sell your home. An experienced real estate agent can show you the market activity in your neighborhood, and discuss the best time to sell.
Ask the Real Estate Agent is a weekly column by Cheryl Kempenich of Coldwell Banker Burnet, who lives and offices in the Chisago Lakes Area. Submit your questions to firstname.lastname@example.org. All information is deemed reliable but not guaranteed. For legal assistance consult an attorney.