March 2015
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hometown realty

This SE Hutchinson, MN rambler features new kitchen cabinets, updated bathroom, new carpet, m. f. laundry, m. f. family room off of kitchen & screened porch. Single attached garage. New roof in 2012.

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Featured Hometown Realty Property of the Week – 1018 Jefferson Street SE, Hutchinson, MN

PRICE: $139,900

Property Type: Residential
Listing Status: Active
Style: (SF) One Story
Year Built: 1956
Sqft. Total: 1716
Exterior: Wood
Roof: Asphalt Shingles, Age 8 Years or Less
Garage Capacity: 1
Fuel: Natural Gas
Air Conditioning: Central
Water: City Water/Connected
Sewer: City Sewer/Connected
Lot Size Dimensions: 100×100
Lot Description: Corner Lot
Roofing: Asphalt Shingles, Age 8 Years or Less
Outbuildings: Storage Shed
Heat Source: Natural Gas
Heat Type: Forced Air

Click here to view more information about this featured property of the week courtesy of Hometown Realty in Hutchinson, MN.

Updated 1 3/4 Story home in SE Hutchinson, MN has a large front porch & heated back porch, Pergo floor in kitchen/dining, family room & bath in basement, Oversized 2+ car garage w/ electric, concrete floor, & shelving. HMS Home Warranty included. “Move In” Condition! OPEN HOUSE: 3/23/2015 4:30PM – 6:00PM

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Featured Hometown Realty Property of the Week – 710 Roberts Street SW, Hutchinson, MN

PRICE: $128,900

Property Type: Residential
Listing Status: Active
Style: (SF) Other
Year Built: 1914
Sqft. Total: 1466
Exterior: Vinyl
Roof: Asphalt Shingles, Age Over 8 Years
Garage Capacity: 2
Fuel: Natural Gas
Air Conditioning: Central
Water: City Water/Connected
Sewer: City Sewer/Connected
Lot Size Dimensions: 66×165
Lot Description: Tree Coverage – Medium
Roofing: Asphalt Shingles, Age Over 8 Years
Heat Source: Natural Gas
Heat Type: Forced Air

Click here to view more information about this featured property of the week courtesy of Hometown Realty in Hutchinson, MN

After three full years of price gains, recovery shows renewed vigor

Minneapolis, Minnesota (March 12, 2015) – The Twin Cities housing market showed refreshed signs of strength last month, partly in anticipation of what looks to be a promising spring market as well as favorable interest rates. Buyer and seller activity surged in February. New listings increased 23.2 percent to 5,690 during the month, the largest year-over-year increase since July 2013. Pending sales—or a count of the number of signed purchase agreements—increased 21.8 percent to 3,834, the largest year-over-year increase since October 2012. With only two months in the books, already buyers and sellers have shown more activity than they did for any one month of 2014. Inventory levels were still lower, down 2.0 percent to 12,700 homes, but that trend is unlikely to continue.

The median sales price rose 10.4 percent to $202,000, the strongest gain since last February. This increase officially marks 36 consecutive months or three full years of year-over-year median price gains. Price per square foot—which adjusts for the square footage of homes selling—rose 6.6 percent to $120. Absorption rates remained flat at 3.0 months, and still technically favor sellers. That said, today’s market environment is slightly less competitive than in 2013. Days on market rose 7.1 percent to 106 days.

hometown realty, hutchinson, mn, minnesota, twin cities real estate market, stats, 2014 median sales price

FEBRUARY 2015 TWIN CITIES REAL ESTATE MARKET OVERVIEW

The market share of foreclosures and short sales continued to shrink on both the supply and demand side. Traditional new listings rose a substantial 33.8 percent, while foreclosure and short sale new listings each fell between 25 and 30 percent. Traditional pending sales rose a massive 41.5 percent, while foreclosure and short sale pendings each fell between 32 and 36 percent. This dynamic has partly enabled three consecutive years of rising prices.

“If February is any indication, this spring is shaping up to be everything that spring markets should be,” said Mike Hoffman, President of the Minneapolis Area Association of REALTORS® (MAAR). “The fact that we’re seeing large gains in buyer and seller activity mostly driven by traditional properties bodes quite well for consumer confidence at a critical time.”

The finance environment remains enormously attractive. Mortgage rates continue to hover between 3.5 and 4.0 percent. The long-term average is roughly 7.0 percent. This appealing affordability picture can potentially offset recent home price increases and also encourages renters to consider homeownership. The Twin Cities housing affordability index of 210 has actually increased 2.4 percent from last February.

A highly diverse and robust economy has served the Twin Cities housing market well throughout various cycles. According to the Bureau of Labor Statistics, the Twin Cities has the lowest unemployment rate of any major metro in the nation at 3.3 percent. Recently, national private job creation has accelerated toward 300,000 jobs per month.

“Even though every area and market segment is unique, what we’re seeing in the numbers is definitely reflected out in the community,” said Judy Shields, MAAR President-Elect. “After being cooped up all winter, people are eager to get out there and find their dream home.”

All information is according to the Minneapolis Area Association of REALTORS® (MAAR) based on data from NorthstarMLS. MAAR is the leading regional advocate and provider of information services and research on the real estate industry for brokers, real estate professionals and the public. MAAR serves the Twin Cities’ 13-county metro area and western Wisconsin. 10K Research and Marketing, LLC is a wholly owned subsidiary of MAAR.

For more information about buying or selling your home in and around Hutchinson, MN contact the real estate professionals at Hometown Realty – 320.587.6115.

Hutchinson, MN 3 bedroom rambler features m. f. laundry, some hardwood floors, double attached garage & double detached garage. Great storage.

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Featured Hometown Realty Property of the Week – 544 Highland Park Drive NE, Hutchinson, MN

PRICE: $159,900

Property Type: Residential
Listing Status: Active
Style: (SF) One Story
Year Built: 1958
Sqft. Total: 1876
Exterior: Wood
Roof: Asphalt Shingles, Age 8 Years or Less
Garage Capacity: 4
Fuel: Natural Gas
Air Conditioning: Central
Water: City Water/Connected, Well
Sewer: City Sewer/Connected
Lot Size Dimensions: 100×120
Roofing: Asphalt Shingles, Age 8 Years or Less
Heat Source: Natural Gas
Heat Type: Hot Water

Click here to view more information about this featured property of the week courtesy of Hometown Realty in Hutchinson, MN.

Hutchinson

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Featured Hometown Realty Property of the Week – 536 Franklin Street SW, Hutchinson, MN

PRICE: $149,900

Property Type: Residential
Listing Status: Active
Style: (SF) Two Stories
Year Built: 1945
Sqft. Total: 1980
Exterior: Metal
Roof: Asphalt Shingles, Age 8 Years or Less
Garage Capacity: 2
Fuel: Natural Gas
Air Conditioning: Central
Water: City Water/Connected
Sewer: City Sewer/Connected
Lot Size Dimensions: 66×132
Lot Description: Tree Coverage – Medium
Roofing: Asphalt Shingles, Age 8 Years or Less
Heat Source: Natural Gas
Heat Type: Forced Air

Click here to view more information about this featured property of the week courtesy of Hometown Realty in Hutchinson, MN.

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