If you own a home in Burnsville – congratulations! Because, no matter when you bought your house, it’s worth more today than what you paid for it.
Just take a look at the graph below. The average selling price for a home in Burnsville at the beginning of 2022 is $325,082, while just five years ago, the average Burnsville home price was only $229,951.
Burnsville Home Prices 2016-2022
That’s 41% in price appreciation in just 5 years!
But let’s not stop there. If you’ve owned your Burnsville home for longer than five years, you’ve got even more to be excited about.
When we move the timeline back five more years to 2012, you can see the average selling price in Burnsville was a mere $151,240. So – if you happened to purchase your Burnsville home at the bottom of the market in 2012, your home’s value has more than doubled!
Burnsville Home Prices 2011-2021
But, what about those of us who purchased at the peak of prices during the real estate bubble of 2005-2006. When home values started dropping rapidly, your timing may have felt like a mistake at the time. Prices continued to drop year after year until finally bottoming out six years later. Check out the graph below to see what happened.
Burnsville Home Prices 2005-2021
Fortunately, with the long period of appreciation we’ve been experiencing, you come out ahead no matter when you bought your house. Even if you purchased at the top of the last price peak in 2006, your house is still worth about 30% more than you paid for it. By sticking it out through the dip, you recovered your losses and came out ahead!
Because I spend so much time there, I’m probably biased, but I believe that Burnsville is one of the best places to live in the entire Twin Cities. With its wide variety of neighborhoods and housing options, excellent amenities, and great metro access, Burnsville is an exceptional place to live for both adults and kids.
If you’re thinking of buying or selling a home in Burnsville, I’d love the opportunity to talk with you. If you’ve lived there for a while, we can exchange stories about the town, and if you’re new to the area, I’m excited to share with you all of the great things that Burnsville has to offer.
Have a great day!
