Woodbury Real Estate Update for February 25, 2013

We continue to pound the pavement for new listings... I now have 8 buyers looking to purchase, pre-approved who can't find a great home to make an offer on!

My theory is that all you sellers who purchased in the late 90's to 2005 and are still happy in your home (although you could use a little extra room) are happy to hold off and wait as prices come back.

Here's the problem, we are short on inventory now and as the spring market rolls along and FHA begins to increase their MIP and hold buyers to it for the life of the loan your, and your buyer's, cost of purchasing will increase making your dollars not stretch as far... To find out what the current market can do for you give me a call!

The stats for the Woodbury Real Estate Market in the previous week:

• New listings continue to gain with 36 homes hitting the market

• Pending properties hold steady with 128 homes

• Overall inventory is up 5% with 264 homes for sale, 67 have accepted offers!

When adjusted for seasonality and compared to 2012 for the month of January 2013: 

• Median Sales Price is up 8.5% to $240,500

• Days on Market is down to 98 days on market

• Percent of original list price received went up to 95.2%

• Months supply of inventory is down 58.3% to 3.6 months

Information is gathered from the Northstar Multiple Listing System and "InfoSparks" 

Good luck and happy home selling!