Low inventory and consumer demand is driving the Woodbury Real Estate market back into the favor of home sellers.
Fueled by low interest rates we are expecting continued price improvement along with growth from the new construction markets. Existing homes will stay strong as buyer demend out paces the realities of new construction.
The graph shows an increase in list to sale price from 92% to 95% and represents another $7,200 in the pocket for an average home in Woodbury! In my opinion existing home values could see another 10 to 12 % appreciation but, heck, what do I know... check my blog from last year this time.
The stats for the Woodbury Real Estate Market in the previous week:
• New listings rebound with 38 homes hitting the market
• Pending properties slide increase 4%, now 112 homes under contract
• Overall inventory is up 1% with 222 homes for sale
When adjusted for seasonality and compared to 2011 for the month of December 2012:
• Median Sales Price is up 8.5% to $240,000
• Days on Market is down 31% to 103 days on market
• Percent of original list price received went up to 95.1%
• Months supply of inventory is down 57% to 3.7 months
Information is gathered from the Northstar Multiple Listing System and "InfoSparks"
Good luck and happy home selling!
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.