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 shows Woodbury MN Still Buyer's Market on a twelve month rolling scale.
If you lump all three categories of homes for sale (traditional home sales, foreclosure home sales, and short sale home sales) in Woodbury MN Monthly Supply of Homes for Saleyou will note that the home supply for sale has gone back up to 6.9 months through September 2011 from the previous 12 months. However, 2011 numbers are still down significantly from the 7.6 months in 2009.
In real estate the general rule of thumb is if there is a 1-5 months supply of homes it is called a 'Seller's Market', a 5-6 month supply of homes and it is called a 'Balanced Market', and if there is 6+ months of homes for sale and it is called a 'Buyer's Market'. Between now and early 2012 we are likely to see the annual continued trend of the number of Woodbury MN homes for sale reducing over the winter months before going back up again next year.
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. The Durham Executive Group is uniquely qualified to assist both a buyer or seller in the current Woodbury housing market.
Note: The graph below is provided by the Minneapolis Area Association of Realtors.