woodbury housing market: Woodbury, MN Housing Market Update - 09/10/15 02:41 AM
There is some terrific news that has come out of the housing market in 2015!
 
Woodbury closed sales are up 21%!  There is currently only a 3 months supply of inventory of homes on the market. 
Overall in the Twin Cities closed sales are up 17% with a 4 months supply of inventory currently on the market. 
Woodbury’s average sale price is $305,000 compared to the overall Twin Cities average sale price of $261,000.
 
Maybe the best news for homeowners is that buyers are buying previously owned homes again!
 
Take a look at these stats:
 
Woodbury 2015 = 982 closed sales YTD - 40 were new … (0 comments)

woodbury housing market: Woodbury, MN Neighborhood Statistics 2014 - 01/07/15 01:32 AM
2014 was an interesting year in Woodbury.  The amount of new construction homes proved to be a challenge for traditional sellers to compete with and although sales were down 30% in 2014, the average sale price was up 7%.  This means buyers were willing to pay more for good, quality homes and they were willing to patiently wait for the right home to hit the market.  In some cases, buyers put off their home search in November and December and they are now watching the spring inventory very closely.
When it comes to the number of homes sold in 2014, Stonemill Farms lead the … (0 comments)

woodbury housing market: What's Wrong With Woodbury's Housing Market? - 06/20/14 12:12 AM
A year ago homes were selling faster than we could put a sign in the yard.  The combination of interest rates near 3.5% and record low inventory made for an extremely active housing market in Woodbury.  Homes increased in value nearly 13% last year and home sales were up over 25% compared to the year prior.     Fast forward 12 months later and sales are down nearly 17% and home values are up only 3.5% in Woodbury.  Compare that to the rest of the Twin Cities where sales are only down 11.4% and home values are up over 8%.    … (0 comments)

woodbury housing market: Preparing Your Home To Sell - 01/29/14 12:01 AM
Woodbury’s housing market is experiencing extremely low inventory, demand is soaring and sellers may think that their home will move in mere minutes and at an inflated price. These dreams of big prices and warp speed sales can end up becoming a major disappointment for sellers if you aren’t willing to follow a few simple steps prior to putting your home up for sale.
Here are 3 simple steps every seller should take before your home hits the market.
1. Staging matters–big time!
“Homes that don’t show well don’t close well.” But still, time and time again we see sellers become stubborn … (0 comments)

woodbury housing market: Woodbury, MN Housing Statistics Last 5 Years - 11/18/13 02:12 AM
If you were waiting for the Woodbury housing market to "hit bottom", you've waited too long.  The housing market has officially reached (and exceeded) pre-recession numbers in Woodbury and while next year will not explode like 2013 did, I do expect 2014 to remain strong.
Here are the numbers:
2008 = 936 homes sold, 78 days on market, average price of $290,503 2009 = 989 homes sold, 70 days on market, average price of $252,393 2010 = 855 homes sold, 76 days on market, average price of $257,944 2011 = 964 homes sold, 83 days on market, average price of $236,283 2012 = 1086 homes sold, 70 days on … (0 comments)

woodbury housing market: Woodbury, MN Housing Statistics for October 2013 - 11/06/13 11:38 PM
The numbers are in for October and the Woodbury housing market continues to show signs of improvement.  Here are some key indicators:
Closed sales up 35% over 2012 Pending sales up 7% over 2012 The average sales price is up 2% from 2012 The inventory of homes for sale is down 11% from 2012 Homes that sold in October were only on the market 54 days compared to 88 days in October of 2012 One of the most important numbers that reflect a healthy housing market is the fact that there is only a 2 and 1/2 months supply of homes … (0 comments)

woodbury housing market: Wedgewood Housing Statistics - 10/17/13 12:13 AM
The Wedgewood area continues to be one of the most high demand areas for luxury buyers in Woodbury.  The amenities such as walking trails, parks, golf course, tennis courts and one of Woodbury’s favorite dining establishments – David’s Chophouse makes Wedgewood a unique neighborhood.
Currently there are only 10 active listings in the Wedgewood area (including Wedgewood Valley, Wedgewood Heights and Wedgewood Park).  The average asking price is $593,000 for a 4 bedroom, 4 bath, 4,000 square foot home.
When looking at the sales over the last 12 months there have been 53 home sales with an average sale price of … (0 comments)

woodbury housing market: Woodbury, MN Housing Market April 2013 - 05/21/13 02:40 AM
Wow, what a difference 24 months makes!  When comparing 2011 to 2013, the buyers have flooded Woodbury’s Housing Market and completely flipped the market from a buyers market to a sellers market.
 
In April of 2011 there were 530 homes on the market, as of today there are only 288.  That’s a 50% decrease in inventory!  In April of 2011 homes took an average of 173 days to sell and were selling for 90% of original list price.  In April of 2013, homes sold in less than 65 days and sellers were able to get 97% of original list price. … (0 comments)

woodbury housing market: Twin Cities Housing Market Statistics - 04/11/13 03:11 AM
Although the weather isn’t heating up in the Twin Cities, the housing market certainly is!  So what's fueling the ongoing market recovery? First, tightened inventory levels combined with strong demand are fueling price gains in many areas. Second, consumer demand is shifting from distressed properties to conventional homes. Third, record-low mortgage rates and rising rents are supporting housing recovery. Locally, new Listings in the Twin Cities region decreased 5%, pending sales were up 6.6% and inventory levels shrank 31%. Prices also moved higher. The Median Sales Price increased 17.4% to $176,000. Days on market was down 24% to 109 days. Absorption … (0 comments)

woodbury housing market: Woodbury Luxury Home Sales Are Improving! - 03/05/13 02:52 AM

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woodbury housing market: Woodbury, MN Housing Statistics 2012 - 01/02/13 04:55 AM
According to the media, the housing market is back right?  Not so fast, while 2012 was a tremendous improvement from previous years we have a long way to go before we can call the housing market “stable” again.  Maybe the best news is inventory is currently down 30% and the current months supply of inventory is less than four months compared to nearly six months a year ago.
Here are some positive signs and my thoughts:
Median Sales Price 2012 = $240,000
Median Sales Price in 2011  = $219,700
Up 10%
Does this mean my house is worth 10% more than … (0 comments)

woodbury housing market: Minnesota Luxury Home Market Q and A - 09/19/12 05:34 AM
What is the starting price for a luxury home in your market?
 
WH – Compared to the West Metro, I think the East Metro is a bit more affordable when it comes to “luxury”. I would consider a home priced over $500,000 to be high-end in this area.
 
How would you describe the pulse of the luxury market?
 
WH – Days on market is trending better and we’re seeing prices stabilize – not increasing like some markets, but stabilizing. Activity is also steadily increasing; the private showings the last 90 days have really picked up on luxury homes. … (0 comments)

 
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Wade Hanson

Luxury Broker

Woodbury, MN

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