Real Estate Blog for the North & East Twin Cities

Closed sales nearly doubled in Columbus, Minnesota in 2011 compared to sales in 2010. Only 12 homes were sold all of 2010 in this Anoka County community, just west of Forest Lake, which is well known for its acreage properties. Yet in 2011, sales came back with 23 sold properties. However nearly 50 homes came on the market so it there is still an abundance of inventory. The average price of a home dropped also dropped nearly 16% which is the second consecutive year that the average priced dropped over by over 12%. This did impact the average price per square footage which also went down from $103 to $97/sq foot. But $97 per square foot is very good as compared to other north metro communities. Homes took longer to sell in 2011 and sellers didn’t fair as well during negotiations as sellers received a respectable 91% of their asking price which is much higher than in many neighboring communities but down from nearly 97% in the previous year. Average days on the market is up considerably to nearly five months but this is also more in line with neighboring communities. Iit appears that buyers are continued to have the upper hand in 2011when negotiation on acreage homes in Columbus, Minnesota.

For additional details on the inventory levels in Columbus, MN at the end of 2011, Click HERE.