Sherburne County MN Housing Market And Local Insights

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Here are the most frequently asked questions about selling SHERBURNE County homes

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HERE ARE THE MOST FREQUENTLY ASKED QUESTIONS ABOUT SELLING A HOME IN SHERBURNE COUNTY

Houses can sell quickly or take a long time. Some factors that can affect the sale of a house are the price, condition, location and whether it’s been used as a rental property.

Tip for selling a home: Make your home look as desirable as possible. You can accomplish this by decluttering, making repairs, and even giving your house a new coat of paint. Tip for selling a home: Home staging is a technique often used by sellers to make their homes more attractive to prospective buyers. It involves using furniture that is neutral in color and design and placing it in areas that are most commonly used.

 
 
 
11 factors that affect property value
  • Location. The location of a property is the most obvious factor that affects how much a property is worth. …
  • Supply and demand. …
  • Interest rates. …
  • Economic outlook. …
  • Property market performance. …
  • Population and demographics. …
  • Property size and features. …
  • Aesthetics.
We’ve outlined some of the most important factors that influence your home’s value:
  • Neighborhood comps. …
  • Location. …
  • Home size and usable space. …
  • Age and condition. …
  • Upgrades and updates. …
  • The local market. …
  • Economic indicators. …
  • Interest rates.

Having short sales and especially foreclosures on your street decreases the value of your home. Even if they are not direct comparables, as in same square footage and the number of bedrooms and baths, they are in your immediate neighborhood, so can make the entire area depreciate in value.

For most major markets, the Zestimate for on-market homes is within 10% of the final sale price more than 95% of the time. The nationwide median error rate for the Zestimate for on-market homes is 1.9%, while the Zestimate for off-market homes has a median error rate of 6.9%.

  1. Enter your address into a home value estimator. …
  2. Ask a real estate agent for a free comparative market analysis. …
  3. Check your county or municipal auditor’s website. …
  4. Identify trends with the FHFA House Price Index calculator. …
  5. Hire a professional appraiser.

The median sales price for a single-family home in Sherburne County during December was $325,000. That’s an increase of 8.7% compared with December 2020, according to a USA TODAY Network localized analysis generated with data from Realtor.com.

On a year-over-year basis, prices have been rising for 30 consecutive months. December prices are down from $330,000 the previous month.

The number of houses sold fell by 15.9% from a year earlier. A total of 164 houses were sold countywide during the month of December. During the same period a year earlier, 195 single-family homes were sold.

Real estate sales can take weeks or months to be recorded and collected. This is the latest data made available through Realtor.com to the USA TODAY Network.

Condominiums and townhomes sold in December had a median sales price of $226,900. That figure represents a 22.7% increase year over year. In Sherburne County, nine were sold, down 30.8% from a year earlier.

More:Mansion on the Market: 5,200-square-foot Big Lake home listed for $1.5M

How hot is the St. Cloud-area real estate market in Minnesota?

Information on your local housing markets is available through the USA TODAY Network, with more data from Realtor.com. 

The top 10% of the properties sold had prices of at least $519,900, up 17.1% from a year before.

In December, one property sold for $1 million or more. It was a single-family home.

The median home sale price — the midway point of all the houses or units sold over a period of time — is used in this report instead of the average home sale price because experts say the median offers a more accurate view of what’s happening in a market. In finding the average price, all prices of homes sold are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.

 

 

 

Sherburne County residents will soon be receiving their Property Valuation Notices for 2022 assessment/taxes payable 2023. These statements will be included in the same envelope as the 2022 Property Tax Statements.

Low interest rates and a lack of inventory coupled with high demand have led to a robust residential housing market statewide. The current market value is determined by market conditions based on sales that transpired between October 1, 2020 through September 30, 2021. Over the course of this period, the median residential sale price in Sherburne County was approximately $340,000. By contrast, the median estimated market value prior to any market value adjustments was $283,000. Based on this sales data, the average home value will increase approximately 16-20%, depending on property location and other factors.

The Assessor’s Office is responsible for estimating market value and determining proper classification of all properties in Sherburne County. Minnesota law requires assessors to value property at its most likely selling price. This “estimated market value” divided by the actual sale price equals the Sales Ratio. The Minnesota Department of Revenue uses this ratio to do studies that ensure uniformity and quality of assessments. To be considered compliant with the Department of Revenue, median property assessments are expected to be within 90% – 105% of market value.

 

If upon receiving your individual Valuation Notice, you have questions for the Assessor’s Office, the formal appeal process is included on the valuation statements. The Sherburne County Assessor’s office encourages taxpayers to reach out to staff with any questions or concerns they may have regarding the market value once they receive the value notice.

You can reach the Assessor’s Office at (763) 765-4900.

All Neighborhoods in Sherburne County, MN

Cities
Median Listing
Home Price
Listing
$/SqFt
For Sale
For Rent
$410K
$162
$424.9K
$159
$389.7K
$149
$364.9K
$170
$359.9K
$155
$350K
$195
$399.9K
$148

Here’s how a savvy homebuyer can make sense of today’s seemingly competing mix of good and bad real estate market news. The …

Navigating the U.S. housing market in summer 2022 is seeming a bit like a high-stakes game of Perception vs. Reality. The post …

Navigating the U.S. housing market in summer 2022 is seeming a bit like a high-stakes game of Perception vs. Reality. The post …

Navigating the U.S. housing market in summer 2022 is seeming a bit like a high-stakes game of Perception vs. Reality. The post …

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