The year-end market statistics are in and Chisago County home sale prices are up about 10% over 2015, according to the Multiple Listing Service. In 2016 there were 1,036 closed home sales in Chisago County a with a median sale price of $209,900. The average home sale in 2016 had 3 bedrooms, 2 baths, 1,925 square feet, and averaged $123 price per square foot. The average marketing time decreased 22% to 77 days. Only 16 closed sales were marked as a potential short sale or foreclosure.
Chisago County lags slightly behind the Twin Cities metro area in recovery from the 2008 market crash. Our highest median price was in 2006 at $228,000 and the lowest median price was in 2012 at $130,000.
Chisago County has a wide range of housing from waterfront homes, farms, new construction, townhomes, and pre-existing homes. There are very few condominiums in the County. The number of home sales were up in 2016 and inventory was down, which drove the prices higher and gave the buyers fewer choices.
The highest home prices came from 192 waterfront homes, which sold at a median price of $263,000. much more affordable than Washington County with a median price of $399,900 for waterfront homes sales.
South Center Lake had the most sales at 30 with a median sale price of $247,450. Green Lake was 2nd with 26 sales and a median sale price of $309,250. The Lake with the highest median sale price was Comfort Lake at $380,000 with only 5 sales. Both South Center Lake and Green Lake have townhomes which brought their median sale price down.
There were 147 new homes built in the County, that were listed on the MLS, with a median price of $255,500 which averaged $164 price per square foot. The average new home had 3 bedrooms, 2 baths, 3 garage stalls, 1,712 finished square feet on a .31-acre lot. Most of the new homes were built in Chisago City, North Branch, and Lindstrom. About 1/3rd of the new construction in the County is one level living, which appeals to our growing baby boomer population and those with specific needs
The highest priced home sold in 2016 was a farmstead in Chisago Lake Twp. with 237 acres on the Sunrise River, which sold for $1,062,200. The lowest priced home sold was in Taylor’s Falls for $28,000. It was a fire damaged home on a half-acre lot.
North Branch had the most home sales in the County at 259. The median price was $186,500. They had 48 new construction homes, 9 home sales with 10+ acres, and 9 waterfront homes.
Chisago City/Chisago Lake Twp. had the 2nd highest amount of sales and the highest median price. There were 173 sales with a median price of $259,900. There were 35 new construction homes, 12 homes with 10+ acres, and 60 waterfront homes.
Lindstrom had the 3rd highest amount of sales at 138 with a median price of $211,813. There were 13 new construction homes, 3 home sales with 10+ acres, and 48 waterfront homes.
Wyoming was 4th in sales with 121 sales and the median price was $232,900. There were only 2 new construction homes, 3 home sales with 10+ acres, and 8 waterfront homes.
Chisago County is a beautiful, affordable place to live and an easy commute to the Twin Cities. Additional detailed market statistics are available by request.
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.