Wyoming, MN is an excellent place for a first time homebuyers to start a home search in the northeast Minneapolis/St Paul area. There are a variety of choices ranging from single family split level homes to affordable detached townhomes. As in most neighborhoods, the best priced homes go fast!  First time homebuyers looking for a Wyoming MN home in 2012 will be able to take advantage of the extremely low interest rates hovering around 4%. Being ready with your mortgage pre-approval before an offer or risk disappointment as several homes have sold in days or with multiple offers in Wyoming, MN recently.

 

The number of new listings was up for 2011 in Wyoming, Minnesota which is a bit different than the surrounding areas to this southern Chisago County community. Most surrounding communities saw a drop in new listings in 2011 but Wyoming had almost a 10% increase. This is an area where there are many newer starter and town home developments that were hit hard by the foreclosure crisis. There could be many foreclosures and short sales still working their way out of the system in 2011 in Wyoming. The average sales price of a home dropped again this past year by almost 8% and is coming in just over $156K while the price per square foot is running $83/sq ft. This is one of the lowest average per square footage prices in the northeast metro area. A high point to the year is that homes are selling; over 21% more homes sold in Wyoming, Minnesota compared to last year. Sellers appear to be getting just over 92% of their asking price which is in line with several other north east metro communities. It is taking a bit longer to sell a Wyoming home this year as the average days on the market went from 131 in 2010 to 142 in 2011. If you are considering buying a Wyoming home in 2012, this might be a good time look as their still might be a bit more inventory than in other areas to the south.