Year End 2008 Snapshot of Hugo, MN Home Sales Statistics

While the number of new listings, closed sales and average sales price for homes in Hugo, Minnesota dropped between 10-14% in 2008 compared to the previous year, the biggest change was in time on the market. In this northern Ramsey and Washington County community, just north of White Bear Lake, home sales were an average of 40 days longer than in 2007; up statically by nearly 47%! Gas prices and a devastating tornado may have played a role. With the lower average sales price of a home in Hugo at $236,517, down just over 13%, a first time homebuyer can consider this community an affordable option once again.

If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet or Homebuyers Success Packet. 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.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Copyright 2009 terieckholm.com

Year End 2008 Snapshot of White Bear Township, MN Home Sales Statistics

Home sales were pretty stable in White Bear Township, Minnesota in 2008 versus 2007. In this northern Ramsey County township has weathered 2008 much better than the neighboring City of White Bear Lake. Home sales dropped just 7.4% and the average sales price held at just over $265,000 down only 2.9%. The days-on-the-market (DOM) was up by only 3 days for the year. White Bear Township is fortunate to have experienced a somewhat stable market in 2008.

If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet or Homebuyers Success Packet. 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.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Copyright 2009 Teri Eckholm http://www.terieckholm.com/

Year End 2008 Snapshot of White Bear Lake, MN Home Sales Statistics

Home sales took a bit of a hit in White Bear Lake, Minnesota as home less homes closed for less dollars in 2008 versus 2007. In this Northern Ramsey County city home sales dropped just over 14% but inventory levels should stay the same as there were just over 13% newly listed homes too. The average sales price took a 20% hit as fewer homes over $250,000 are selling anywhere in the Twin Cities. Days on the market it up as it took over a month more time to sell a home in 2008 than in the previous year. With affordability up and prices and interest rates down, now is a great time to consider purchasing a White Bear Lake home.

If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give me a call or visit my website for a FREE Relocation Packet or Homebuyers Success Packet. 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.

Buying a Home? Check out my new HOME BUYER'S BLOG!

Copyright 2009 terieckholm.com

Are Buyers and Sellers Psyched Out in the Minnesota Real Estate Market?

“Psychological factors are currently the biggest drag on the housing market, in addition to a disruption from tighter credit for subprime borrowers.”
— Lawrence Yun, senior economist for the National Association of Realtors
June 25, 2007

This statement issued three months ago by Yun is still true in Minnesota today. We have low interest rates and unemployment rates below the national average yet the housing market is flat. Areas of Anoka and Washington Counties including Blaine, Ham Lake, Lino Lakes and Forest Lake have been over developed. There are several new construction homes and developments sitting empty awaiting new home buyers for, in some cases, years. In this current real estate market situation, the basic economics of supply and demand applies. When prices are too high, demand will remain low.

Home sellers in Minnesota that have gotten the message have been able to sell their homes. Existing home inventories are still high but down a bit from earlier in the year. If your home is currently on the market and not selling, there is a 2-Step approach to getting SOLD:

1. Look at what needs to be done to get your home in tip-top condition. If you have been receiving feedback from showings about ugly counters, worn carpeting, gaudy paint, old roof, etc., take action! Buyers move on to the homes in move-in condition.


2. Check your pricing against what is on the market and what has SOLD. Don’t look at solds from last year! Look in the past 3 months and what is in pending. If nothing has sold, then others in your market are pricing their homes too high as well. Work with your Realtor to make certain your home is the “best deal” in the neighborhood.

If this seems too difficult because you do not want to “give your home away”, take it off of the market. I have heard several sellers make the “I’m not going to give away my home” statement. My questions to them are “when did you buy?” and “what did you pay?” Most often the answer is years ago and for substantially less than what they are asking for the home. But these homeowners felt the over inflated prices of the last few years were “money in the bank”. This is an unfortunate misconception that keeps people from moving on to their next home.

If you are relocating to Minnesota, are looking for Homes for Sale in the north and east Twin Cities metro area and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet. I specialize in acreage properties! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2007 www.terieckholm.com