In this north Washington County community, just north of White Bear Lake, closed home sales were remained flat in again in 2011 as they were in 2010. This follows a year where they were up by nearly 43% in 2009. That shows continued stability especially since new listings are down significantly for the second year in a row with a 21% decrease. Unfortunately, the average sales price did continue to decline by another 6% from just over $192K to $180,950. The amount sellers are receiving on sales is down a bit compared to asking price but not dramatically. Unfortunately the average price per square footage dropped significantly in 2011 from $98/sq ft in 2010 to $90/sq ft at the end of the year. This is still in line with most other north and eastern communities. Time on the market to sell a Hugo home, did jump up a bit in 2011 but with homes selling in roughly 5 months this Washington County community is making good progress toward stabilization.
For additional details on the inventory levels in Hugo MN at the end of 2011, Click HERE.
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Copyright 2012 Teri Eckholm http://www.terieckholm.com/
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Teri as always you have done a nice job puttig together your market report for Hugo MN!