Woodbury Real Estate Update for March 11, 2013

More showings, offers and you still don't want to move? What's wrong with this picture.... maybe you just don't believe me. I'd love to share with you some of the stories regarding multiple offers this spring!

What's the problem with waiting till May? FHA is changing the guidelines for their MIP or Mortgage Insurance Premiums and this will cost the average buyer around $40,000 over the life of the loan!

So you town home owners in Woodbury and maybe even some of the starter homes better take a close look at getting your home on the market soon!

Take a look at the attached chart, do you see the bump in the avg sale price? That was the 1st time buyer tax credit. And just like that time we are seeing a bump in activity and prices... will it continue? Only time will tell. 

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

• New listings are strong with 46 homes hitting the market

• Pending properties jump 10% with 148 homes

• Overall inventory is steady with 258 homes for sale, over 60 have accepted offers!

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

• Median Sales Price is up 8.6% to $242,000

• Days on Market is down to 95 days on market

• Percent of original list price received went up to 95.4%

• Months supply of inventory in Woodbury is down to 3.5 months *SELLERS MARKET*

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

Good luck and happy home selling!

Matthew Johnson

www.mattjrealtor.com

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.

Matthew Johnson |The Johnson Real Estate GroupKeller Williams Premier Realty651.209.3767 Office/ 651.379.5263 Fax651.775.7515 Cellmatt@tjreg.comSearch for your ideal home