Good News for the Local Twin Cities Housing Market
If you have been following the news lately, most every report has been showing great signs for homeowners. On July 18th, the Star Tribune published an article about the housing market that we want share:
Click Here to Read the Star Tribune Article
Just to highlight a couple important points:
New housing permits have increased by 80-percent, compared to the same time last year.
Also, according to the article, “There are plenty of long-term indications that the market is turning. The Twin Cities office of Metrostudy, a national construction research firm, said Twin Cities home builders are having their best year since 2007, including a 45 percent increase in starts during the first six months of the year vs. 2011.”
We also pulled data for Woodbury. More great news!
Right now, there’s a rate of 49.67 homes being sold each month in the $200K to $500K price point. This equates to only about 3 months of inventory on the market! (for reference – a couple years ago some woodbury price points had an over 10 month supply of homes. A six-month supply is considered a “balanced” market between a sellers and buyers. A three-month puts us back into a sellers market. ).
This means now is a great time to, not only sell your home, but sell it quickly and for top dollar!
All of this data is consistent with our recent new home starts here at Custom One Homes.
Many of you attended the recent Grand Opening of our new Berkshire model in Dancing Waters. We’ve been starting new projects and just did another groundbreaking for a new family home in Stonemill Farms.
A couple additional points to consider – especially right now:
If you’re ready to build your brand new dream home, this is the perfect time to get started. Interest rates have remained at record lows, and you’ll be investing before the market prices start to increase again.
We have a huge design library, plus our design team will help you bring your vision and ideas for your new home to life.
If you’re ready to move into your dream home before school starts in the fall, Custom One Homes also has some current inventory in Dancing Waters (Woodbury), Stonemill Farms (Woodbury), Everwood (Cottage Grove), and Highland Hills (Cottage Grove).
Simply call Rob Fritz – 651-248-5491; Tom Ott – 612-701-7474; or Jeremiah Rygh – 651-592-6211 to schedule your personal showing.