June 25th, 2007

Current listing inventory - 290 active listings in Owatonna as of today. Inventory has continued to remain high. Average days on the market in Owatonna has crept up a bit again this week to 126 days. The number of pending listings has fallen this week which is to be expected as we get closer to the end of the month. Currently we have 59 houses pending in Owatonna with an average days on the market of 98. This difference between the average days on the market in the active listings and the pending listing is a very telling sign of how important it is to price a property correctly during the first 30 days of the listing. Pricing a home correctly is still the single most important thing a seller can do to get their home sold in our current market. A new feature we started last week is the inclusion of Closed properties since 01-01-07. There have been 174 properties sold so far this year with an average days on market time of 123 days. Interest rates went up twice last week but have fallen a bit this week and are sitting at 6.375% on June 19, 2007. Interest rates are always stated for a 30 year fixed rate loan. Don't forget that, clicking of the words "Active" or "Pending" or "Closed" will bring up a grid sheet showing all of the properties that are in that category.

June 20, 2007

Current listing inventory - 289 active listings in Owatonna as of today. Inventory has climbed again this week. We continue to set new high's every week. Average days on the market in Owatonna has crept up a bit again this week to 125 days. The number of pending listings has risen this week which is a good sign that homes are still selling. Currently we have 61 houses pending in Owatonna with an average days on the market of 94. This difference between the average days on the market in the active listings and the pending listing is a very telling sign of how important it is to price a property correctly during the first 30 days of the listing. Pricing a home correctly is still the single most important thing a seller can do to get their home sold in our current market. A new feature starting today is the inclusion of Closed properties since 01-01-07. There have been 166 properties sold so far this year with an average days on market time of 126 days. We have seen certain price ranges with very large differences between the days on market time of Active vs Pending vs Closed. The $130,000 to $150,000 price range for example varies more than 30 days of market time. Interest rates went up twice last week but have fallen a bit this week and are sitting at 6.375% on June 19, 2007. Interest rates are always stated for a 30 year fixed rate loan.

June 11, 2007

Current listing inventory - 282 active listings in Owatonna as of today. Inventory has climbed again this week. Average days on the market in Owatonna has dropped a bit again this week to 122 days. That isn't necessarily a sign of houses selling quicker, but more of a function of more new listings on the market bringing the average number down. The number of pending listings has risen this week which is a good sign that homes are still selling. Currently we have 54 houses pending in Owatonna with an average days on the market of 103. This number has also started to climb at bit recently and will bear watching over the next several weeks. Pricing a home correctly in the first 30 days it is on the market is still the single most important thing a seller can do to get their home sold in the current market. Interest rates went up twice last week and have crept up a little this week and are sitting at 6.500% on June 11, 2007. Interest rates are always stated for a 30 year fixed rate loan.

June 6th, 2007

Current listing inventory - 278 active listings in Owatonna as of today. Inventory has climbed again this week and was actually up to 281 for a short while. Average days on the market in Owatonna has dropped a bit again this week to 125 days. The number of pending listings has fallen this week which we expected because of the number of closings scheduled for the end of May. Currently we have 51 houses pending in Owatonna with an average days on the market of 92. An interesting point to compare is the average days on market between the active & pending properties. Pricing a home correctly in the first 30 days it is on the market is still the single most important thing a seller can do to get their home sold in the current market. Interest rates have jumped a bit this week and are sitting at 6.255% on June 6, 2007.

June 1, 2007

Current listing inventory - 272 active listings in Owatonna as of today. Inventory has climbed a bit this week which is a little surprising because there have been quite a few closings this week because of the end of the month. Average days on the market in Owatonna has dropped a bit this week to 128 days. The number of pending listings has fallen this week which we expected because of the number of closings. Currently we have 60 houses pending in Owatonna with an average days on the market of 93. An interesting point to compare is the average days on market between the active & pending properties. Pricing a home correctly in the first 30 days it is on the market is still the single most important thing a seller can do to get their home sold in the current market. Interest rates have jumped a bit this week and are sitting at 6.125% on May 31st.