When the Hudson WI housing market derailed and started to deteriorate in 2007 no one really knew what to expect. Housing experts across the country talked about how the housing market would never be the same.
John and Becky Durham of the Durham Executive Group doesn't know what is going to happen on a national housing level, but what we do know is interest rates are still at or very close to historical low levels, and Hudson home prices finally hit rock bottom in 2012 with median home sale prices bouncing their way back upwards. How soon before home values equal the home prices in 2004 and 2005 is anyone's guess, but for any possible home seller out there who has been trying to wait out the market every indication shows it will be many years before the market returns to previous conditions.
With our ongoing Hudson housing market articles on the Hudson Patch the Durham Executive Group's mission is to educate both home sellers and home buyers on the current housing market conditions in Hudson. Is it a sellers’ market, a balanced housing market, or is it a buyers’ housing market? What are the median sale prices, or the average sale prices in Hudson?
We have already indicated that at year end in 2012 over the 12-month period from 2011 Hudson home prices saw a +4.0% median sale price increase (see graph). The average Hudson home price for finished square feet increased +1.9% from 2011 up to $99/FSF (see graph), while the average days on market decreased -12.2% (see graph) for an average of 173 days on market.
Subsequently, if you are a Hudson WI home owner who has been trying to wait out the market, 2013 might finally be the right time for you to put your home. For home buyers, recognize Hudson home prices are finally pointing upwards and there is a significant increase in the number of multiple offer situations on homes due to the reduction on the number of homes available in Hudson for sale.
For Hudson home owners who are contemplating listing their home in 2013 contact John and Becky (651-231-2191) for a free market analysis to determine what your home would sell for with the reduced inventory of homes on the market. To learn more about what John and Becky will do to market your Hudson home, see the videos detailing their premiere services, or if it is just to watch their video about Hudson. It's all on their website at results.net/john.durham.
John and Becky Durham is an award winning marketing husband and wife real estate team specializing in the marketing and selling of homes in Hudson. John and Becky live in Hudson and both have earned master's degrees. Their marketing expertise combined with their executive level business and consulting experience, means they are uniquely equipped to negotiate the best deal for you, whether you are buying or selling a Hudson WI home.
*John and Becky Durham researched this article's Hudson WI housing information from the Minneapolis Area of Realtors. Information is deemed reliable but not guaranteed.
*John and Becky Durham - RE/MAX Results 651-231-2191