Low Supply Driving the Housing Market in Woodbury, MN

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Real Estate Agent with Durham Executive Group - RE/MAX/Results

Low Supply Driving the Housing Market in Woodbury, MN

 

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.

Low Supply Driving the Housing Market in Woodbury, MN Low Supply Driving the Housing Market in Woodbury, MN

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.
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John and Becky are real estate agents with backgrounds and work experiences that set us apart from our competition. We are both educated with post graduate degrees and have worked in upper bracket professional management positions in both business and educational settings prior to real estate. We know how to work with all social and economic clientele - whether it's a first time buyer, or a multi-million dollar client. We put the emphasis on ‘EXECUTIVE LEVEL' service regardless of the size of the transaction.

Our mission statement embodies putting the client first. We recognize the importance of listening to, and fully understanding our clients' needs and concerns. Each of us brings a unique set of marketable skills with none more important than integrity and honesty. We give our word that there will never be a transaction we are involved with that is not handled with professionalism, honesty, and integrity. Additionally, we pride ourselves on our communication skills and the ability to market and negotiate our client's properties with superior results. In fact, our efforts were recently recognized with an award for our client marketing. This is a prestigious award only a few agents in the Twin Cities receive from the National Association of Realtors and Realtor.com.

 

John and Becky Durham

REMAX Results

604 Bielenberg Drive

Suite 100

Woodbury, MN  55125

Voice (651)231-2191

Fax (651)735-8246

John@DurhamExecutiveGroup.com

http://www.durhamexecutivegroup.com/ (Search All Properties Currently for Sale in Twin Cities, Greater Minnesota, and Western Wisconsin via our MLS - Enabled Search Engine)

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