The housing market in Hugo, Minnesota has remained steady.
This north metro Washington County just outside of White Bear Lake saw a drop
in new listings and closed sales in 2014 but that doesn’t mean there wasn’t a
demand for homes. Housing inventory could the reason the average sales price rose
again for the third consecutive year to over $237,000. The amount sellers are
receiving on sales is close to asking at 96.7% which is slightly down from 2013
but still one of the highest ratios for communities in the north and east metro
area. The average price per square footage likewise continued to increase from $108/square
foot in 2013 to $111 at the end of the year. Time on the market to sell a Hugo home,
is up by a few days over 2013 but still selling significantly faster than in
2011 and 2012 when homes look over 3 months to sell.
As we start 2015, inventory levels continue to be extremely
low for homes in Hugo. This has created a bit of a seller’s market; with sellers
have the negotiating advantage. Since interest rates have remained low, home
buyers are out there searching for their dream home well before the traditional
spring market has begun. Hugo home owners considering selling in 2015 and
planning to get the most leverage from the improved market should consider
listing their homes as quickly as possible. Once the warmer temperatures arrive,
there will likely be more homes on the market and the market will balance out.
READY TO MAKE A MOVE? Let me be your professional guide. If
you are buying, selling or relocating to Minnesota and need help from a
professional REALTOR®, give me, Teri Eckholm of Boardman Realty, a
call or visit my website for a FREE Home Buyer Success Guide or FREE Home Value Report. I specialize in
acreage and lakeshore properties in the north and east Twin Cities
metro area including Ham Lake, Lino Lakes and all communities in the
Forest Lake School District. Serving Anoka, Chisago, Ramsey and
Washington Counties in Minnesota.
Copyright 2015 www.terieckholm.com
Copyright 2015 www.terieckholm.com
