Wednesday, June 6, 2007

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.

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