Cardinal's For Sale 'Signs'

Many of you have asked for information regarding real-estate sales in the community. will be providing this information on a monthly basis. Following are statistics from the St. Paul Area Association of Realtors for Oakdale and Woodbury for the month of January.

Oakdale

For the month of January 2011 there were 40 new listings (homes for sale) which is 16 percent less than January 2010.  There were 22 closed sales which is 37 percent higher than the same period a year ago.  While the increased number of sold homes is good news, the down side is that sales prices decreased by 8 percent. This decrease can be attributed to the high number of foreclosed homes and distressed properties that have sold. Sellers are receiving about 92 percent of their asking price and homes are taking, on average, 148 days to sell. Keep in mind that sale prices do not reflect any seller paid concessions (ie. buyer’s closing costs) that may have occurred. The statistics point to a “buyer’s market," making it an excellent time to buy a home. Interest rates are low, inventory is solid and sellers are ready to negotiate. To view more statistics in Oakdale click here

Woodbury

For the month of January 2011 new listings (homes for sale) rose by 7 percent compared to January 2010. The number of closed sales rose by 57 percent and sale prices rose by 13 percent for the same time period.  Sellers are receiving about 90 percent of their asking price which is similar to the previous January.  The number of days on the market declined by 21 percent to 108 days.  Sale prices do not include any seller paid concessions such as buyer’s closing costs. 

Even with the encouraging news above it continues to be a “buyer’s market” due to the large supply of homes for sale which has increased by 41 percent compared to last January. Interest rates are low, inventory is solid and sellers are ready to negotiate.

To view more statistics in Woodbury click here

Cardinal’s tip of the month

With all of the snow and cold we have received, it is important to check all outside venting and remove any surrounding snow so that mechanicals such as furnaces can perform properly.

This monthly column is provided by , a local, family owned business-your community real estate expert for over 50 years. For additional information call 651-739-8033 or visit www.cardinalrealtors.com.