For both Seller's and Buyer's the following information provided by the Durham Executive Group is helpful to understand when buying or selling a home. The graph below is Woodbury MN Average Home Sale Price on a twelve month rolling scale through September 2011.
What you will notice is that all three categories of homes for sale (traditional home sales, foreclosure home sales, and short sale home sales) are moving in different directions in terms of the Woodbury MN Average Home Sale Price the past two years. Traditional home sales in Woodbury as a whole are seeing home values drop but only a total of 3.5% over the past 2 years. Short Sales in Woodbury MN are seeing the average sales price go up 6.3% this year over last year, but overall have reduced a total of 10.5% in the past 2 years.
The thing for a seller to keep in mind is that fall and winter is still a good time to sell as the number of competing homes for sale in Woodbury usually drops allowing for less competition.
Note: The graph below is provided by the Minneapolis Area Association of Realtors.