Hubbard County Real Estate: The Q1 2024 Update

Hubbard County Real Estate: The Q1 2024 Update

Introduction

Navigating the real estate landscape requires a deep understanding of local market trends, property taxes, and investment opportunities. This comprehensive update on Hubbard County real estate for the first quarter of 2024 provides essential insights for homeowners, buyers, and investors. Our analysis is grounded in the latest data and trends observed in Hubbard County, MN, highlighting the average sales prices, market dynamics, and real estate tax considerations. For more detailed insights, visit Coldwell Banker Crown Realtors - Park Rapids.

Market Overview

Hubbard County Real Estate Trends

In the first quarter of 2024, Hubbard County's real estate market showcased significant developments. The average sales price for single-family homes was recorded at $357,000, marking an 8% increase from the previous month. This rise reflects a robust demand and a vibrant market environment. The sales price to list price ratio stood at 98.11%, a 2% improvement, indicating that homes sold closer to their asking prices, a sign of a competitive market.

Days on Market and Price Per Square Foot

Properties in Hubbard County experienced an average of 35 days on the market before sale, a considerable 54% increase, suggesting a slight slowdown in market turnover. However, the average sales price per square foot saw a significant jump of 24% to $231, underscoring the growing value of real estate in the area.

Inventory and Real Estate Taxes

The number of properties for sale in Hubbard County slightly increased by 4% to 75 listings, hinting at a more balanced market. Real estate taxes in Hubbard County are comparatively favorable, with a rate of 0.80%, which is lower than some neighboring counties. This tax rate is crucial for both residents and investors, as it affects the overall cost of owning property in the area.

Investment Insights

Hubbard County as an Investment Destination

Given the positive trends in sales prices and the relatively low real estate tax rate, Hubbard County emerges as an attractive locale for real estate investment. The county's market dynamics, combined with its scenic beauty and community amenities, make it an ideal choice for both residential and investment purposes.

Navigating Property Taxes

Understanding the nuances of real estate taxes is vital for investors and homeowners. In Hubbard County, the favorable tax rate of 0.80% is a significant advantage. For detailed strategies on maximizing your investment in Hubbard County, including tax considerations, visit our investment properties guide.

Conclusion

The first quarter of 2024 has been dynamic for Hubbard County's real estate market, with notable increases in average sales prices and per square foot values. The market's competitive nature and the attractive real estate tax rate position Hubbard County as a promising area for both living and investing. Whether you are considering buying a home or investing in real estate, staying informed about local market trends and tax implications is essential. For more insights and expert guidance on Park Rapids and Hubbard County real estate, explore our Park Rapids Real Estate page.
Real Estate Links Our Domains