Woodbury Real Estate Monthly Market Update – June, 2008

It’s time to head over to Washington County and examine the real estate sales statistics for the bustling town of Woodbury. As we know, the Woodbury real estate market has some extremely nice home developments that have been in demand over the years.

Let’s first take a look at June of 2008 compared to June of 2007, and let’s start off with some good news! New listings are down considerably, going from 247 in June of 2007 to 171 this past June. Closed sales have not moved that much in numbers. June of 2008 saw 96 closings, with June of 2007 seeing 106 properties in Woodbury close. The average sales price did drop 4.9%, going from $318,940 to $303,424. Average days on market for a property in Woodbury went from 145 to 152 days in June of 2008. The overall inventory levels for single family homes decreased from 406 active MLS listings to 366. The townhome/condo inventory level also dropped from 325 to 271 active listings in June of 2008.

Looking at January through June of 2007 to January through June of 2008, new listings put onto the MLS are down 19.3%, going from 1,380 to 1,113. Closed sales are down slightly, from 461 closings in 2007 to 429 in 2008. The average sales price in Woodbury is down 5.3%, going from $304,584 to $288,411. The percent of original list price received at the time of sale is down 2.4%, from 95.3% to 93%. Average days on market is up 8.1%, going from 148 to 160 days.

Though the average sales price in Woodbury still remains fairly high compared to other cities from around the metro area, there still are a number of outstanding homes, condos and townhomes for sale on the MLS for buyers to choose from.