Many home buyers love the idea of a shiny new home where they have chosen the floor plan and all the finishes. With a shortage of homes on the market in the greater Twin Cities area, buyers are finding few choices in existing homes and are turning to new construction as an option to find their dream home. Becky and I thought it would be interesting to compare prices for existing homes and new construction. Turns out, there is a very large difference in price (see graph).

Durham Executive Group

The average sales price for a new home in Hudson is $275,070. That’s up 17.3% in the past year! Home builders are still recovering from the significant drops in prices in 2011. The market for existing homes is quite different, with an average price increase of 5% in the past year to $228,605.

Now, the first thought one might have is that they are building bigger homes nowadays.  But, if you look at the second graph, you’ll see the difference in average price per square foot. $125 per square foot for new construction versus $99 for an existing home.

Durham Executive Group

There is tremendous value in buying a pre-owned home. For many, they prefer a home with the character that time brings, not to mention mature trees and the larger yards that most older neighborhoods provide. 

Becky and I are experts in the Hudson area real estate market and would be happy to talk with you about your home buying and selling options. With a degree in home construction, I am uniquely qualified to help you navigate the maze of new construction options or help you determine the scope of work that may be needed should you wish to buy or sell a pre-owned home. We are both licensed in both Minnesota and Wisconsin. 

John Durham – 651-231-2191

john@durhamexecutivegroup.com

Becky Durham – 651-231-2192

becky@durhamexecutivegroup.com


Housing statistics and information provided by John and Becky Durham are based on data available as of May 15, 2013. Data comes from the Regional Multiple Listing Service of Minnesota, Inc. Data deemed reliable but not guaranteed. Powered by 10K Research and Marketing.

John and Becky are real estate agents with backgrounds and work experiences that set us apart from our competition. We are both educated with post graduate degrees and have worked in upper bracket professional management positions in both business and educational settings prior to real estate. We know how to work with all social and economic clientele - whether it's a first time buyer, or a multi-million dollar client. We put the emphasis on ‘EXECUTIVE LEVEL' service regardless of the size of the transaction.

Our mission statement embodies putting the client first. We recognize the importance of listening to, and fully understanding our clients' needs and concerns. Each of us brings a unique set of marketable skills with none more important than integrity and honesty. We give our word that there will never be a transaction we are involved with that is not handled with professionalism, honesty, and integrity. Additionally, we pride ourselves on our communication skills and the ability to market and negotiate our client's properties with superior results. In fact, our efforts were recently recognized with an award for our client marketing. This is a prestigious award only a few agents in the Twin Cities receive from the National Association of Realtors and Realtor.com.

 

John and Becky Durham

REMAX Results

604 Bielenberg Drive

Suite 100

Woodbury, MN  55125

Voice (651)231-2191

Fax (651)735-8246

John@DurhamExecutiveGroup.com

http://www.durhamexecutivegroup.com/ (Search All Properties Currently for Sale in Twin Cities, Greater Minnesota, and Western Wisconsin via our MLS - Enabled Search Engine)

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Durham Executive Group

 

 

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04/24/2013
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New Listing in Bloomington – Durham Executive Group and RE/MAX…
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Key Milestones Reached on Road to Recovery
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The Minneapolis Area Association of REALTORS® (MAAR) announced today that the 13-county regional housing market achieved a major milestone in March 2013. For the 13th consecutive month, homes in the Twin Cities sold at a higher median price… more
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Condo and Townhome Prices Rising First time home buyers and down sizers are a typical market market for townhomes and condos. With interest rates continuing to be a historical low levels, along with reduced supply, price increases for town… more
Low Supply Driving the Housing Market in Woodbury, MN
04/03/2013
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Low Supply Driving the Housing Market in Woodbury The University of St. Thomas Minneapolis St. Paul Residential Real Estate Index for February was recently released. Herb Tousely, director of real estate programs at the University,… more
Marsh Creek Leads the Way in Woodbury Real Estate
03/20/2013
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Marsh Creek Leads the Way in Woodbury Real Estate If you are a Marsh Creek home owner, consider yourself lucky. This desirable neighborhood in Woodbury is outperforming most of Woodbury as far as real estate statistics are concerned… more
Wedgewood - Luxury Home Market Is Back!
03/13/2013
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John Durham, MS, MS, ASP, ARS

Woodbury, MN

More about me…

Durham Executive Group - RE/MAX/Results

Address: 604 Bielenberg Dr., Woodbury, MN, 55125

Office Phone: (651) 231-2191

Cell Phone: (651) 231-2191

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