Closed sales were way up in Oakdale in 2009 unfortunately the average closed sales price was down. But a nearly 38% increase of closed sales shows that homes are selling in this popular Washington County suburb just east of St. Paul. The average price was down over 13% so undoubtedly many of the homes sold were lender mediated properties. As we have seen in many other communities across the Twin Cities metro, this is probably a combination of the trend of many lender-mediated sales with few higher valued traditional homes sold this past year. A good point is that in this Washington County community is time on the market is down quite a bit too. Inventory is moving in Oakdale and that will lead to a more balanced market between buyers and sellers. Buyers looking to take advantage of the lower prices and great affordability of Oakdale homes will need to make decisions soon as home are selling in this community!
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Copyright 2010 Teri Eckholm http://www.terieckholm.com/
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This is a great presentation of what is happening in your market. I think prices will start to stablize... Good to hear some positive news... let's hope we all have a great spring!
Hi Teri,
You know I've been watching your reports for a while now and I see a lot of similarities with your and others around the U.S. 2009 sales increased while prices were lower.
Our 2010 market has started off pretty much the same.
Teri,
I always look to your blogs, great presentation like usual ! prices seems lower so means that it is a great time to guy, :) what do you think ?
Joan--While it isn't all positive, homes are starting to sell and quickly. Once the foreclosure inventory is out of the picture, hopefully the market values will stablize for home owners.
Lynda--As you know I have looked at several communities in the northern Twin Cities metro and yes, there seems to be a trend of lower sales prices but more sales. The first time homebuyer credit did a good job of clearing the low valued and foreclosure inventory out of the system last year. Sounds like it was a cross country phenomena!
Ray--Yes...I believe it is a great time to buy as with the lower inventory, prices will start to edge up once again. I would not want to be saying...gee I wish I bought in 2010 when prices were lower...