In this northern Ramsey and Washington County community, just north of White Bear Lake, closed home sales were up an average of by nearly 43%. Unfortunately, the average sales price did continue to decline again during 2009; down nearly 17% to under $200,000! This is no doubt a reflection of the significant amount of first time home buyers in the market. With only a handful of additional new listings in the area, inventory is down considerably. Sellers are already starting to see sales prices come in closer to asking price. Time on the market to sell a home, has remained flat at just over four months. It appears that the Hugo market is starting to become more balanced which is great news for homeowners in this Washington County suburb.
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Let us hope that 2010 shows improved numbers for housing! Especially with the price/values!
Myrl--Yes...I hope 2010 will be a good year for us all!
Teri,
more sales, more closings and the average sales price is 16% less that's good eh ? :) close many homes Teri !!!
Ray--Closed sales up is good, yes!! :)
Teri more sales occurred in 2009 but the average price dropped, this is true of most markets. A nice report for consumers to see the trend in the market.
Jennifer--Yes...they average price did drop in every community I looked at in the Twin Cities north metro. I attribute much of this to first time buyers who usually chose lower valued homes and that a larger percentage of homes sold in 2009 were lender mediated (bank owned or short sale).