When Will Hudson Home Prices Get Back to 2007 Levels?

I feel like a broken record when I tell you that the supply of homes for sale in Hudson is at low levels I’ve never seen. With an average 7.3 months supply of homes on the market, we are beginning to see the Hudson housing market right itself. Supply has dropped by 32% since March of 2010 (see graph).

I’m thrilled to see that the glut of homes on the market has turned around. 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.  

I can definitely say we are on the right track. With a full year of fairly steady gains in average home prices in Hudson (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 Hudson housing market heats up this year, all indications are showing a solid spring season, 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 a Hudson home spends on the market is 176 days. You can benefit from the expertise of a qualified realtor with proven results.

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.