Woodbury listing inventory is approaching a 5 year low. That's right, we are on pace right now to go below the low of 295 single family homes for sale set in Aug/Sept. 2010 bringing us back to the levels seen in June of 2006! This, of course, marked the beginning of the down turn in home sales and sygnified the bubble bursting in our market.
I remember it like it was just yesterday. The market that spring was like a bad dream when you want to run away from the bad guy but you just can't muster the strength to get anywhere. Who would have imagined our median sale price would drop over 20% in 5 yrs... pushing us back to prices seen just before 2000.
You mean there is good news? Well sure, inventory down... sales up... we could be seeing the market stabilize and give us a chance to catch our breath. That would be nice after the wild roller coaster ride we have seen over the last 10 years. Final point, right now is the best time we have seen in 40+ years to buy a home and if you are moving up in the market or buying a bigger home it could not get any better. I'd love to punch your information into the "Opportunity Cost Calculator" I created in 2007 to help homeowners see the light still shining on real estate as a long term wealth builder.
Matthew Johnson
www.tjreg.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.tjreg.com to find out more.
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