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, expects home prices to increase in the coming months because of normal seasonal fluctuations and because of the tight inventory on the market.

*The inventory of homes for sale remains at a historically low level. In February there were 12,232 homes for sale (in the Twin Cities Metro area) compared with 17,850 in February of 2012. One measure of market health is to examine the ratio of homes on the market for sale and the number of homes sold. In February there were only 4.44 homes for sale for every homes sold. This is a very low level when compared to historical data. In February 2012 there were 6 homes available for sale for every home sold and in February of 2011 the ratio was 10:2. Generally, in a balanced market, the ratio typically falls between 6 and 10 homes available for sale for every one sold. This continues to be good news for sellers. As we move into the spring market, more potential buyers will find a limited number of homes for sale putting upward pressure on prices.

*University of St. Thomas Minneapolis Residential Real Estate Index

So what does this mean for Woodbury?

The latest data from the Regional Multiple Listing Service of Minnesota, Inc. is very promising! Home prices are up 10.2% over the past 12 months.  And homes are selling faster, too - in 94 days on average. That’s incredible!  With supply at historically low levels, we can expect sale prices to continue to increase as buyers compete for the best homes on the market.

Becky and I are very excited about what we are seeing in Woodbury real estate market and the surrounding area. If you are wondering what this market turnaround has done for you home values, give us a call. We would be happy to provide a free market analysis on your home.Check out the videos detailing our premier real estate services at www.results.net/john.durham

John and Becky Durham are Eastern WI and Minnesota real estate agents with RE/MAX Results and Durham Executive Group.

John Durham - 651-231-2191 john@durhamexecutivegroup.com

Becky Durham - 651-231-2192 becky@durhamexecutivegroup.com 

• Housing statistics and data provided by John and Becky Durham are based on data available as of April 1, 2013. Data comes from the Regional Multiple Listing Service of Minnesota, Inc. Data deemed reliable but not guaranteed. Powered by 10K Research and Marketing.

Woodbury Real Estate Market Update - Zip Code 55125 Analysis

Woodbury’s housing market is taking a very interesting turn as we head into 2013. Becky and I are seeing numbers we haven't seen in years. The greatest concern right now is the lack of supply of homes on the market. Let’s take a look at the statistics for Zip Code 55125 in Woodbury:

Low Supply

The number of homes on the market has decreased by 44% in the past 2 years, creating a definite seller’s market. The hope for all homeowners is that this lack of supply will translate into price increases as we enter the spring real estate season. 

Prices are Rising

Take a look at the graph showing Average Sales Prices of homes in 55125. Broken down by property type, we can see that average home prices of single family homes have gone up nearly 12% in the past year, canceling out the price drops we saw in 2010. Townhomes saw similar gains in average price. Cautious home sellers should note that these results show consistent, gradual improvement over the course of the past year, which is what we want to see. What is most interesting is that we saw the greatest gains in the last quarter of the year, when the market typically slows down. 

Homes are Selling Faster

What’s amazing is how fast homes are selling in the 55125 Zip Code (see graph below.) I can’t remember the last time I saw homes get snapped up so quickly. The average number of days on the market is at 94 days for single family homes. For townhomes, it’s 89 days. Under 90 days? INCREDIBLE! This is even faster than pre-recession levels.

Given these numbers, it seems logical that home prices will continue to go up this spring as we head into the peak home buying season. For buyers, this means that with limited supply, you will need to act quickly. You’ll have limited choices and may have to compete with other buyers for the best homes. 

For sellers, if you have been sitting on the fence, now is the time to seriously consider listing your home. Buyers are out there, and with interest rates still at historical lows, they are ready to buy. Becky and I would be happy to provide you with a free market analysis of your home. Check out the videos detailing our premier real estate services at www.results.net/john.durham

John and Becky Durham are Eastern WI and Minnesota real estate agents with RE/MAX Results and Durham Executive Group.

John Durham - 651-231-2191 john@durhamexecutivegroup.com

Becky Durham - 651-231-2192 becky@durhamexecutivegroup.com 

* Housing statistics and data provided by John and Becky Durham are based on data available as of February 12, 2013. Data comes from the Regional Multiple Listing Service of Minnesota, Inc. Data deemed reliable but not guaranteed. Powered by 10K Research and Marketing.

Relocating to Woodbury MN?

By the Durham Executive Group

As top selling Woodbury MN real estate agents Becky and myself work with many relocation companies (SIRVA, Prudential, Relocation Properties Management, and many others) and their transferees. As a husband & wife real estate team (Durham Executive Group) we are asked repeatedly by transferees relocating to Woodbury MN what is the community like? What makes Woodbury MN so special and annually ranked so high in various polls?

As a result, Becky and I have developed the following community video about Woodbury MN for anyone transferring to Woodbury MN. In the video we talk about the schools, employment opportunities, parks & recreation facilities, hospitals and clinics and much more.

To view the video of Woodbury MN click the photo above, or click here! 

Should you want to see the personal video of Becky and I than click here!

If you want to talk to top selling Woodbury MN real estate agents about buying/selling a home in Woodbury MN contact John & Becky Durham at 651-231-2191. We are relocation transferees top choice when looking for a real estate agent in Woodbury, MN. For more information about us go to our website at: http://www.results.net/john.durham

Video Profile of a Top Selling Woodbury MN Husband & Wife Real Estate Team

High End Selling Woodbury MN Real Estate Agents - Durham Executive Group

1283 Kenilworth Drive, Woodbury MN is a Spectacular Home for Sale

Don’t miss the opportunity to step inside this wonderfully secluded home, amongst towering pine trees, located in the Evergreen Development of Woodbury.The central location will provide convenient access to major highway interchanges, shopping, dining, community resources, fitness clubs and religious offerings.5 bedrooms, with 4 on the upper level and one in the lower level, create a wonderful guest suite for visitors, in-laws or older teens.Highlights include; a main level sunroom with vaulted beam ceiling and 3 walls of windows, updated kitchen includes new granite and high-end stainless steel appliances, main floor laundry housing the Whirlpool Duet front load washer and dryer, master bedroom offering “his and hers”closets, dual sink areas and private tub room.A unique feature is the second story screened porch providing full views of the front wooded lawn.Lower level has been finished by one of the original contractor several years after purchase, primarily as a media room and guest suite.Three fireplaces throughout the home provide warmth and ambiance on cold MN nights.Gas burning fireplaces in the living and family rooms, with wood burning in the master suite.A 3 car garage includes electric heating and floor coating giving it a finishing touch.Furnace was replaced in 2010 with 95.0 EnergyStar efficiency rating, Central Air conditioner was installed in 2010 with Aspen Air, water softener purchased new in 2011 and 40 gallon water heater new in 2009.A security system is available on the premises. The back of the home is a private oasis with maintenance free deck and paver patio all protected by a wooden, privacy fence.Evergreen community is located adjacent to a nature preserve and parks offering a variety of wildlife sightings and access to playground and recreational facilities.Two miles of walking trails wind through the Tamarack preserve with Evergreen West and Evergreen East parks within walking or biking distance.Owner’s have meticulously maintained and updated the home and property over the past 27 years.Schedule a visit to see for yourself the unique property and features this home has to offer.

To view a video of the community of Woodbury MN click here!

Top Selling Woodbury MN Real Estate Agents - Durham Executive Group

This beautiful home (8729 Pheasant Run Circle, Woodbury, MN) received an accepted offer just days after it was placed on the market.

Ideal 4-bedroom home location in the heart of Woodbury, MN. This property has a large and useable city lot with a heavy tree line at the back of the lot and along one side providing additional privacy. Home is located on a quiet cul-de-sac centrally located in Woodbury close to shopping, dining, and exercise opportunities. A large city park (Summit) is within a few walking blocks, and a beautiful inter-connecting walking/running/biking trail around several lakes is close by. This home features a large backyard deck and three large cherry trees that annually bear amazing cherries. There is a large and nicely built tree fort built in the air amongst the backyard pine trees on 4X4’s for children. The deck leads into a vaulted and beamed ceiling sun room lined with large floor tiles making this room and the deck a great place to entertain and relax, particularly in the summer. From the Sun room you enter a large kitchen and an informal eat in kitchen area lined with a hardwood floor. The kitchen has granite counter tops and Center Island. The cupboards are light color hardwood with leaded glass in many of them. The appliances are upgraded and stainless steel. Off to one side of the kitchen are a half bath and the main floor laundry room. Off the other side is the Hearth room with a hardwood floor and gas fireplace making this a great winter escape to relax. The spacious formal dining room just off the kitchen has a bay window and has large floor tiling for easy cleaning. There is a spacious office with a built in desk and a bay window to the outside. Double French wood doors and a hardwood floor lead to the entry way. Upstairs there are four bedrooms with a spacious master bedroom suite with hardwood floor and private master bath with floor tile and a Jacuzzi. There are a his/her closet. There is also a full main bathroom upstairs. In the basement there is a large Great Room/Media Room with a wet bar. There is a ¾ bathroom in the basement.

For a video about Woodbury MN click here!

The RE/MAX Results cell phone App is finally here and best of all it is FREE. John & Becky Durham is providing the FREE cell phone and Tablet app for all of our clients, prospects, and friends.  All you need to do is text the Durham Executive Group at 651-231-2191 and request the home search App for the Twin Cities and Western Wisconsin. 

The App makes searching for homes while on a mobile device easy and enjoyable. Information on the App is pulled directly from Results.net, so the high-resolution photos and expanded descriptions that you see will be available on the user's Smartphone or Tablet.

One of the unique and ground-breaking parts of this new App is something called Results Radar. When a user stops in front of a home currently listed for sale on MLS and they want all the photos and information, they simply have to click on the Results Radar button and hold the phone up so that the home can be seen in the viewer. All of the MLS information will immediately populate on the mobile device screen, including the enhanced information from Results.net.

The Durham Executive Group along with RE/MAX Results believes that mobile technology is the next great frontier of consumer interaction. With this App, we lead the way by bringing the power of Results.net into the palm of your hand for all of our friends, clients, and prospects.