Health & Fitness
Woodbury Holds the Line with Local Regional in the Housing Market
The absorption rates are trending to below the "balanced market" and we are expecting 2012 to be the year of price stabilization! I know it's not much but after 4 years down almost 40% I'll take it.
Woodbury holds the line with local regional in the housing market.
Buyers remain strong and listing inventory holds at about 1.5% of overall housing stock. Compare that to spring of 2008, when the 7 county metro inventory peaked at over 44,000 homes for sale. Woodbury was around 625 at this same time 4 years ago.
The absorption rates are now trending to below the "balanced market" (4 to 6 months) and we are expecting 2012 to be the year of price stabilization! I know it's not much but after 4 years down almost 40% I'll take it.
Find out what's happening in Woodburywith free, real-time updates from Patch.
These are some of the key statistics and trends I track on a weekly/daily basis. Now I must admit, there is no way of predicting the future and we all aspire to be the one who holds the crystal ball of real estate information. And of course the disclaimer your financial adviser always shares, "Past performance is no guarantee of future results."
The weekly housing stats in Woodbury for the week ending March 17 2012:
Find out what's happening in Woodburywith free, real-time updates from Patch.
• New Listings increased 10% with 33 new homes for sale
• Pending jumped 10% with 116 homes under contract!
• Overall Inventory decreased slightly to 335 homes for sale
Compared to 2011 for the month of February 2012:
• Median Sales Price has decreased 12.8% to $215,000
• Days on Market decreased slightly, 3.7% to 136 Days On Market
• Percent of Original List Price Received remained the same at 92.6%
• Months Supply of Inventory has decreased another 16% to 5.5 months
Information is gathered from the Northstar Multiple Listing System and "The Thing"
Good luck and happy home selling!
Matthew Johnson
The Johnson Real Estate Group serves Woodbury, Oakdale, Cottage Grove, and the entire Twin Cities Area including Western Wisconsin! We are dedicated to providing a superior experience when buying or selling your Twin Cities home! Contact us at www.mattjrealtor.com to find out more.
