According to the Minneapolis Area Association of Realtors, the median sale price for Chisago County has increased from $190,000 to $210,000 through September 2016; compared to the same period in 2015. New listings are down from 1,244 to 1,200, closed sales are up from 756 to 793, the average price per square foot is up to $122 from $112, and the average marketing time is down to 73 days from 94 days.
Chisago City has the most real estate listings in the county and the highest prices. The median sale price has increased from $230,000 to $245,000 (+6.5%). New listings are down from 190 to 157, closed sales are up from 92 to 96, the average price per square foot is up from $136 to $146, and the average marketing time is down from 79 to 70 days.
The City of Lindstrom has the most closed sales in the county, but the median sale price is lower than some of the other cities in Chisago County, primarily due the older age of the homes for sale. The median sale price has increased from $189,900 to $215,000 (+13.2%). New listings are down from 172 to 155, closed sales are about the same; 107 to 108, the average price per square foot is up from $108 to $126, and the average marketing time is down from 109 to 92 days.
Wyoming is 3rd in real estate activity in the county with a median sale price increase from $209,228 to $230,900 (+10.4%). New listings are down slightly from 125 to 123, closed sales are up from 80 to 106, the average price per square foot is up to $116 from $115, and the average marketing time is up from 70 days to 76 days.
Rush City has the lowest prices of the individual cities that the Multiple Listing Service tracks. The median price is up from $132,000 to $149,900 $13.6%), listings are up from 72 to 80, closed sales down from 48 to 46, the average price per square foot is up from $81 to $88, and the average marketing time is down from 111 to 65.
It’s a good time to sell real estate in Chisago County as prices are higher, inventory is lower, and marketing time is down. An experienced real estate agent can provide you with the statistics for your neighborhood.
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.