Health & Fitness
When Will Oakdale Home Prices Get Back to 2007 Levels?
The Oakdale real estate market is showing strong signs of recovery. Everyone wants to know when home prices will go up. Check out John and Becky Durham's take on the Oakdale market.
I feel like a broken record when I tell you that the supply of homes for sale in Oakdale is at low levels I’ve never seen. With an average 3.5 months supply of homes on the market, the right home is becoming difficult for buyers to find. Supply has dropped by nearly 41% since March of 2010 (see graph).
I’m thrilled to tell you that because of the low inventory we are seeing multiple offer situations increasing. What I wish I could tell you is that home prices have recovered completely. Let’s be honest. We all want to see prices back to where they were in 2007. The reality is that’s going to take a while, perhaps years.
Find out what's happening in Oakdalewith free, real-time updates from Patch.
I can definitely say we are on the right track. With a full year of fairly steady gains in home prices in Oakdale (see graph), this spring is an excellent time to consider moving. If you’ve been thinking about changing your housing situation to downsize, upsize, or relocate, consider what it means to wait to get a higher price on your current home. It means you will pay more for your next home! The deals are out there now! If you wait, you might miss them!
As the Oakdale housing market heats up this year, all indications are showing a competitive market for buyers, with modest gains in sale prices for sellers. If you’ve been sitting on the fence, this spring may be a great time to put your home on the market. I recently sold a luxury home in Woodbury’s Bailey’s Arbor in 1 day, and another beautiful home in Woodbury in 57 days. Currently the average days an Oakdale home spends on the market is 91 days, which is faster than Woodbury’s average of 95 days.
Find out what's happening in Oakdalewith free, real-time updates from Patch.
Becky and I would be happy to provide you with a free market analysis of your home. Check out the videos detailing our premier real estate services at www.results.net/john.durham
John and Becky Durham are Eastern WI and Minnesota real estate agents with RE/MAX Results and Durham Executive Group.
John Durham - 651-231-2191 john@durhamexecutivegroup.com
Becky Durham - 651-231-2192 becky@durhamexecutivegroup.com
- Housing statistics and data provided by John and Becky Durham are based on data available as of March 1, 2013. Data comes from the Regional Multiple Listing Service of Minnesota, Inc. Data deemed reliable but not guaranteed. Powered by 10K Research and Marketing.