Health & Fitness
Maple Grove Real Estate - First Quarter Area Breakdown
A breakdown of the First Quarter Maple Grove Real Estate market by area.
One of my favorite things about the Maple Grove Real Estate market is the diversity that exists within the market. With expansion beginning in the 1970’s, picking up steam in the 80’s and continued commercial and residential development showing little slow down from the Real Estate “issues” since 2006, Maple Grove has continued to add 10,000 + new residence in each decade since the expansion started. As a result of the growth, It’s important to remember that Maple Grove offers an abundance for all home buyers in today’s market.
To focus more on the market breakdown within Maple Grove’s first quarter 2013, it may be worth a look at New Listings broken down by individual area breakouts, as defined by the School Districts. < SEE AREA MAP >
Basswood: With 107 new listings to hit the market, The Basswood area leads Maple Grove in number of new homes coming to the market in First Quarter 2013. This area also leads the market with new construction accounting for nearly 25% (26) of the new listings so far in 2013. Basswood also leads Maple Grove in offering an even distribution of value’s within the area with a close number of new listings occurring in each price range.
Find out what's happening in Maple Grovefor free with the latest updates from Patch.
Find out what's happening in Maple Grovefor free with the latest updates from Patch.
Total Listings
Single Family
TH/Condo/Twin
Available
< $220,000
31
2
29
9 (0)*
$220,000 - $400,000
33
26
7
7
> $400,000
42
42
0
18
Cedar Island- A leader in the boom development years of Maple Grove in the 70’s & 80’s, this area leaves little land remaining for new construction. Of the 57 new homes hitting the market first quarter, only one was built in the new millenium. Home buyers have taken advantage of the stability in this area however, with over 85% of the homes priced below the $400,000 already off the market for new buyers.
Total Listings
Single Family
TH/Condo/Twin
Available
< $220,000
35
17
18
3 (2)*
$220,000 - $400,000
20
20
0
5
> $400,000
2
2
0
2
District 284 - Maple Groves smallest and most elite neighborhood continues to offer the fewest new listings for sale. With only 24 new homes on the market first quarter 2013, sellers are not offering many bargains and buyers must pay fair value for the opportunity to become part of this community.
Total Listings
Single Family
TH/Condo/Twin
Available
< $220,000
0
0
0
0
$220,000 - $400,000
6
4
2
0
> $400,000
18
18
0
9
Elm Creek - Providing the most opportunity for affordable single family housing in Maple Grove, buyers don’t allow those homes to stay around long. With 22 single family homes already hitting the market priced below $220,000 since January, none remain active for offers on the market today. Buyers are moving quickly into this neighborhood when homes become available.
Total Listings
Single Family
TH/Condo/Twin
Available
< $220,000
24
22
2
1 (0)*
$220,000 - $400,000
8
8
0
2
> $400,000
0
0
0
0
Fernbrook - With extensive commercial development and the 610 extension project, Maple Grove’s NW area home values have strengthened in 2013. With 58 new homes hitting the market the first quarter this area has offered fewer homes for sale and been split between value buyers and fair value sellers.
Total Listings
Single Family
TH/Condo/Twin
Available
< $220,000
23
3
20
4 (0)*
$220,000 - $400,000
25
22
3
5
> $400,000
10
10
0
6
Rice Lake - With Lake homes, plenty of new construction and 43% of it’s 72 new listings being Townhome/Condo’s, first quarter 2013 has offered something for everyone in this area of Maple Grove. With the Lakes, Donegal and High Grove developments extending down Weaver Lake Road, there’s plenty more to come.
Total Listings
Single Family
TH/Condo/Twin
Available
< $220,000
30
11
19
4 (1)*
$220,000 - $400,000
32
20
12
7
> $400,000
10
10
0
6
Rush Creek - Maple Grove’s Blue Ribbon school area, and one of it’s newest communities continues to offer something for everyone. While single family homes under $220,000 fly off the market, there’s plenty of opportunity in this market for Townhome/Condo buyers with 20% of the 58 homes in this area falling into this group. Additionally there’s plenty of opportunity in the other end of the market for spectacular homes and new construction with over 50% of the first quarter listings priced above $400,000.
Total Listings
Single Family
TH/Condo/Twin
Available
< $220,000
14
2
12
3 (0)*
$220,000 - $400,000
16
14
2
3
> $400,000
28
28
0
11
* As the demand for single family homes priced < $220,000 continues to grow, the number in the () indicates the amount of homes that are single family homes and not townhome, Cond’s or Twin Homes.
Depending on the market you’re in, there exist strength in both the buyers and sellers market. One thing is most definite however, we are no longer in the depressed - bank mediated market we have spent the previous 7 years in.
SPOTLIGHT HOME:
(for that market < $220,000 looking for a single family home):
14894 95th Avenue N, Maple Grove
David J. Garves
