Monday, July 2, 2007

July 2, 2007

Current listing inventory - 286 active listings in Owatonna as of today. Inventory has continued to remain high. Average days on the market in Owatonna has fallen a bit again this week to 123 days. The number of pending listings has remained stable this week. Currently we have 59 houses pending in Owatonna with an average days on the market of 114. Pricing a home correctly is still the single most important thing a seller can do to get their home sold in our current market. Closed properties since 01-01-07. There have been 184 properties sold so far this year with an average days on market time of 120 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.

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