According to the Minneapolis Area Association of Realtors, the median sale price for Chisago County increased from $210,000, in May 2016, to $245,000 in May 2017. The number of sales were up 13.6%, and new listings were down 4%. Inventory was 18% lower than May of 2016, and marketing time was up 4%.
Out of 117 closed in the county, in May, there were 10 new construction homes that closed with a median price of $302,275. There were 30 lake homes that closed with a median price of $290,000. The most expensive sale was a lake home that sold for $498,900 on Green Lake. There were 4 townhome sales and 1 condo sale.
Year to date, the median sale price was up 5% in the county, from $210,000 to $220,500 through May.
The City of Lindstrom had the highest price increase over May 2016. Up 38% from $165,000 to $227,500. There were 15 home sales, 8 were lake homes, 2 were new construction.
Chisago Lake Township saw the median price increase 28% to $346,000. There were 7 sales in May 2017; 4 were lake homes, and one had 12 acres.
In Chisago City, the median price increased 25% from $250,000 to $312,325 (25%). There were 12 closed sales; 2 lake homes and 4 new construction.
Wyoming sales remained consistent with a 4% increase. One lake home and one new construction.
There are 24 commercial properties for sale in the county and there was one closed sale in May; a 10,000sf building in North Branch that sold for $225,000.
It’s a good time to sell real estate in Chisago County as prices are up inventory is down, and most homes look their best now. An experienced real estate agent can provide you with market data for your home and 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.