The latest Lot Inventory Report for Woodbury, MN was released yesterday. It lists 552 lots available within the city. The list includes 49 lots in the new Bailey Lake development, located just east of East Ridge High School. With the low supply of homes for sale in Woodbury, building a new home can be the perfect solution for many buyers. However, it is important that you have strong representation when working with builders. A qualified real estate agent will help you get exactly the home you want.  John and Becky Durham are Western WI and Minnesota real estate agents with RE/MAX Results and Durham Executive Group. John has a degree in home construction, making him uniquely qualified to help you navigate the options with building a new home in Woodbury. www.results.net/john.durham J... 07/03/2013

  The April 2013 S&P Case-Schiller Index was released this week and shows a 12.1% increase in sales prices from a year ago over 20 metropolitan housing markets, which includes the Minneapolis metro area.  This is just the latest in a series of statistics confirming that the real estate market is primed for the return of home sellers, who are now financially able and emotionally confident to list their current home in order to move up to their next. The April home-price increase data from S&P Case-Schiller comes on the tail of report from CoreLogic earlier this month heralding the return of positive equity for 850,000 more residential properties in the first quarter of 2013, another sign that move-up buyers will become an increasingly prevalent market segment in the months ahead. Accordi... 06/27/2013

Strategy for Buyers in a Seller’s Market   Inventory is shrinking and prices are rising. The economy is chugging along well, but now interest rates are going up, a full 1% in the past month. But don’t fret. It’s still a great time to buy. Interest rates are still very low and homes are still a great value, and with prices rising, there’s a good chance you might actually gain equity over the next few years. But I’m not going to lie. It’s a tough market for buyers right now. The low supply of homes on the market is frustrating many buyers who are not prepared for the current market conditions. Becky and I are advising all of our buyer clients to have a strategy. Get Pre-Approved The best homes on the market are seeing offers within days of entering the market, sometimes faster, and often ... 06/25/2013

    Woodbury has seen a remarkable recovery. Even the luxury home market in Woodbury is bouncing back. Check out our video about the Wedgewood neighborhood! Becky and I have seen some amazing things in the past few months; bidding wars, homes selling in a matter of hours, cash offers. These are great for sellers! For buyers, not so much. They and their agents have to work a lot harder to get the home they want. If you have put your luxury home on the market and it’s not selling, it may be time for some reflection. There are a number of reasons a home might be seeing little activity.  Condition: Many of today’s buyers do not have the time, money, or desire to do a remodel. If your home needs paint, carpet, or a new roof, that can scare a luxury buyer away with worries about other repairs... 06/18/2013

Woodbury Homes For Sale in Minnesota on 6.13.13   NEW LISTINGS IN WOODBURY $249,950 - 8760 Pinehurst Bay $209,000 - 3425 Cherry Lane ,Unit E $375,000 - 9045 Valley Creek Road $329,900 - 8129 Ashford Road $154,900 - 3490 Cherry Lane ,Unit D $529,000 - 3554 Williamsburg Parkway $269,900 - 532 Falcon Ridge Road 8760 Pinehurst Bay, Woodbury $249,950 3 beds, 1 full, 1 part baths Home size: 1,544 sq ft Lot size: 10,454 sqft Year built: 1991 Parking spots: 2 Listed with Coldwell Banker Burnet 9045 Valley Creek Road, Woodbury $375,000 3 beds, 2 full baths Home size: 1,860 sq ft Lot size: 4.00 ac Year built: 1880 Parking spots: 2 Listed with Keller Williams Premier Realty 8129 Ashford Road, Woodbury $329,900 5 beds, 1 full, 3 part baths Home size: 2,750 sq ft Lot size: 10,280 sqft Year built: 19... 06/13/2013

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.  More good news when comparing 2011 to 2013:   Average sales price is up 25% Price per square foot is up 15% Pending home sales are up 57% Closed sales are up 50% Months supply of inventory is down 70% I believe timing is everything and right now your timing i... 05/21/2013

Marsh Creek Home Values Continue to Rise     Marsh Creek, one of Woodbury’s most desirable neighborhoods, continues to perform well as far as sales prices are concerned. The average sales price for homes in Marsh Creek have increased over 8% in the past 2 years.   If you’ve been tossing around the idea of listing your home, now is a great time to sell. Homes are selling faster than they have in the past several years, and multiple offers are becoming more common. In fact, Becky and I just listed a home last week and received a more than full price offer in 3 days.   With a very low supply of homes currently on the market, it’s no wonder we are seeing listings sell faster, and at higher prices. But, keep in mind that expert marketing plays a hand in this, too. A qualified agent with prov... 04/24/2013

Interlachen Woods Leads Woodbury in Recovery With all the bad news we’ve been hearing lately, it is a thrill to write about all the good news Becky and I see taking place in the local real estate market. One of Wodbury’s most desirable neighborhoods, Interlachen Woods continues to lead the way in Woodbury’s real estate recovery process. The latest data from the Minnesota Association of Realtors® show that at $120 per square foot, Interlachen Woods average sales prices are higher than most other Woodbury neighborhoods, increasing nearly 18% in the past year.    The good news doesn’t end there. A 5-6 months supply of homes on the market indicates a balanced market, with just the right number of homes on the market relative to demand. Interlachen Woods is showing an average of 2.9 months s... 04/17/2013

Prices Increase in Stonemill Farms Becky and I are sort of what you would call ‘data junkies’. Especially when it comes to the local real estate market. We keep hearing in the national news that the real estate market is leading the way to economic recovery. That’s great news, but don’t you wonder what that really means for those of us here in Woodbury? Take Stonemill Farms, located on Woodbury’s eastern border. A look at the attached graph from the Minneapolis Area Association of REALTORS® will show you that average sale prices for previously owned homes have increased 14.2% over the same time last year. This is wonderful news for Stonemill Farms homeowners, who continue to face competition from the new construction that is still going on in this development.  I was recently asked by a... 04/15/2013

  The Minneapolis Area Association of REALTORS® (MAAR) announced today that the 13-county regional housing market achieved a major milestone in March 2013. For the 13th consecutive month, homes in the Twin Cities sold at a higher median price than the previous year!  And there’s even more good news. Traditional listings are up and distressed listings - foreclosures and short sales - are decreasing. Traditional listings made up 75% of all sales, it’s highest level since May 2008. “We closely monitor the mix of homes that sell,” said Andy Fazendin, President of the Minneapolis Area Association of REALTORS®. “It’s evident that foreclosures and short sales are comprising a smaller share of overall listings and sales compared to recent years. This is great news for the traditional market.” T... 04/10/2013

Condo and Townhome Prices Rising   First time home buyers and down sizers are a typical market market for townhomes and condos. With interest rates continuing to be a historical low levels, along with reduced supply, price increases for town homes and condos are outpacing single family homes in Woodbury.   Take a look at the graph below, and you’ll see that average prices for townhomes increased by 12.1% in Woodbury in the past year. Condos increased by 38.9%. Single family homes increased by a healthy 6.2%.     Now is a great time to invest in a first home. But it can be a scary endeavor. Becky and I offer a FREE class for first time homebuyers to help take the fear out of the process. We team up with a local mortgage broker who will tell you all about the mortgage process, while we pr... 04/10/2013

  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... 04/03/2013

  Marsh Creek Leads the Way in Woodbury Real Estate   If you are a Marsh Creek home owner, consider yourself lucky. This desirable neighborhood in Woodbury is outperforming most of Woodbury as far as real estate statistics are concerned. Beautiful homes, great schools, close proximity to shopping, parks and freeways make this neighborhood one of the most desirable places to live in Woodbury.    The latest numbers from the Regional Listing Service of Minnesota, Inc. reveal that Marsh Creek leads the way in Woodbury. Where average sale prices in Marsh Creek have been rising steadily over the past two years, prices in the rest of Woodbury continued to dip in the early part of 2011. They have recovered nicely since then, but much of Woodbury is still trying to gain back the ground it lost.... 03/20/2013

Wedgewood - Luxury Home Market Is Back!   The luxury home market in Woodbury is showing strong signs of recovery. The Wedgewood neighborhoods, which were hit hard by falling prices and long listing periods, are showing strong signs of recovery.    The supply of homes for sale in Wedgewood continues to drop. According to the Regional Multiple Listing Service of Minnesota, the months supply of single family homes in Wedgewood is now at 5.1 months and heading toward a seller’s market as we approach the spring listing season (see graph).       With reduced supply, we are seeing buyers acting fast to snap up the homes that are on the market, with Wedgewood homes spending, on average, 115 days on the market in the past 12 months (see graph). Homes in Wedgewood spent an average of 252 days on... 03/13/2013

03/05/2013

Real Estate Market Update - Woodbury's Stonemill Farms Stonemill Farms, located on the far Eastern side of Woodbury, was the pre-recession gem of the city. New homes were selling faster than builders could keep with. Then the recession hit. In January 2008, previously owned homes spent about 100 days on the market. By the end of the year, homes were languishing on the market, on average, over 200 days. That translated to a staggering 18 months supply of homes for sale in Stonemill Farms!  Five years later, Stonemill Farms is on it’s way to a thriving real estate market. Drive through the community and you will once again see new homes in various stages of construction. But the most exciting news for Stonemill Farms homeowners is that pre-owned homes are selling faster than they have in ... 02/28/2013

Home market trends in Woodbury MN Real estate market data in Woodbury MN by Joel Friday of Keller Williams Classic Realty Woodbury real estate is booming!  We are finding that the home inventory in Woodbury has dropped significantly over the past year and on average, we are ssing inventory levels at over 30% below those of 2012.  Now is certainly a wonderful opportunity market for sellers who have been looking to sell and had little success in the past. Are home prices rising yet in Woodbury MN 55125? Median sale price in Woodbury MN Latest trends in Woodbury MN The median list price in February for single family homes in Saint Paul is $278,400. The list prices increased by 3.14% from the previous month. The price per square foot for listings in this area is $110. The median sale price ... 02/18/2013

Woodbury Real Estate Market Update - Zip Code 55125 Analysis Woodbury’s housing market is taking a very interesting turn as we head into 2013. Becky and I are seeing numbers we haven't seen in years. The greatest concern right now is the lack of supply of homes on the market. Let’s take a look at the statistics for Zip Code 55125 in Woodbury:   Low Supply The number of homes on the market has decreased by 44% in the past 2 years, creating a definite seller’s market. The hope for all homeowners is that this lack of supply will translate into price increases as we enter the spring real estate season.    Prices are Rising Take a look at the graph showing Average Sales Prices of homes in 55125. Broken down by property type, we can see that average home prices of single family homes have gon... 02/13/2013

WEDGEWOOD REAL ESTATE MARKET UPDATE   2013 is getting off to a great start in the world of Woodbury real estate, and the Wedgewood neighborhood is doing exceptionally well. After several years of luxury homes languishing on the market, Becky and I are finally seeing clear evidence of a market recovery.    People are Buying Homes in Wedgewood Take a look at the graph below. It shows a remarkable trend in the last year as homes in Wedgweood are selling. But it’s not just a few homes here and there. It’s 73 homes sold since January 2012! How sustainable this trend will be remains to be seen, but we can be sure that what it does mean is that it’s possible to sell a home in the present market.   Supply is Down in Wedgewood A balanced market is when there are between 5 and 6 months supply of ... 02/08/2013

Refreshing News for Woodbury Homeowners   Across the nation, homeowners are breathing a collective sigh of relief with the news that the housing market may be leading the way to economic recovery in 2013. The Woodbury housing market is seeing statistics not seen in over a decade. We can all probably agree that homeowners have been reluctant to put their home on the market when prices have been so low. The lucky ones who have been able to meet their monthly mortgage payments have not been eager to take a loss by selling their current home. But times may be a changing! Did you know that people are buying homes in Woodbury? Yes! It’s true! John and Becky Durham, of Durham Executive Group in Woodbury, closely track housing statistics in Woodbury and find that home sales in Woodbury have bee... 02/01/2013