Thursday, August 30, 2007

August 30, 2007

Current listing inventory - 268 active listings in Owatonna as of today. Inventory has again dropped slightly during the week and that is an excellent sign for home sellers. Average days on the market in Owatonna has actually dropped a tick and is 145 days. The number of pending listings has fallen this week at 43 houses, but this was to be expected as we approached the end of the month, with an average days on the market of 133. Interesting this week as we jumped up 28 days in the days on market count in the pendings. Our guess would be one or more of the long time listings finally got an accepted offer. There have been 276 properties Closed properties since 01-01-07, with an average days on market time of 121 days, we are continuing to see homes get sold. Very encouraging this week is the fact that we have had 10 homes close already this week but the pendings have only fallen by 5, which means we are seeing good home selling activity this week. Interest rates have dropped slightly to 6.125% on August 27, 2007.

Monday, August 27, 2007

August 27, 2007

Current listing inventory - 273 active listings in Owatonna as of today. Inventory has again dropped just a bit the past week and that continues to be an encouraging sign for home sellers. Average days on the market in Owatonna has continued to sneak up a bit and is 146 days. The number of pending listings has stayed level this week at 46 houses, with an average days on the market of 105. As we have posted previously we believe that a number of correctly priced homes have come into the market over the last month or so and have received offers quickly and therefore the number of days on market for the pendings is significantly lower than the active listings. Sellers have to be realistic when pricing their homes, especially during he first 2-3 weeks of the property coming onto the market. There have been 266 properties Closed properties since 01-01-07, with an average days on market time of 124 days, we are continuing to see homes get sold. Expect to see the number of pendings drop this week as we approach the end of the month. Interest rates have dropped slightly to 6.125% on August 27, 2007.

Wednesday, August 22, 2007

August 22, 2007

Current listing inventory - 278 active listings in Owatonna as of today. Inventory has again dropped just a bit the past week and that continues to be an encouraging sign for home sellers. Average days on the market in Owatonna has crept up a bit again and is 142 days. The number of pending listings has risen just a bit this week to 46 houses, with an average days on the market of 106. The days on the market gap had shrunk considerably the last few weeks between the active, pending & sold properties but begun to widen considerably again. We believe that a number of correctly priced homes have come into the market over the last month or so and have received offers quickly and therefore the number of days on market for the pendings is significantly lower than the active listings. There have been 262 properties Closed properties since 01-01-07, with an average days on market time of 124 days, we are continuing to see homes get sold. Interest rates have dropped slightly to 6.25% on August 21, 2007. As we mentioned last post, even with all of the doom & gloom about real estate that is in the media almost daily, we are only down 13% in sales over the same period last year. The most noticeable change is the increase in market time, that time is up 36% over the same time period last year.

Monday, August 13, 2007

August 13, 2007

Current listing inventory - 282 active listings in Owatonna as of today. Inventory has remained stable over the last two weeks and that continues to be an encouraging sign for home sellers. Average days on the market in Owatonna has crept up a bit again and is 135 days. The number of pending listings has fallen just a bit this week to 42 houses, with an average days on the market of 118. The days on the market gap had shrunk considerably the last few weeks between the active, pending & sold properties but is now beginning to open up slightly again. There have been 248 properties Closed properties since 01-01-07, with an average days on market time of 124 days. Interest rates have remained stable at 6.375% on August 13, 2007. Even with all of the doom & gloom about real estate that is in the media almost daily, we are only down 13% in sales over the same period last year. The most noticeable cahnge is the increase in market time, that time is up 36% over the same time period last year.

Tuesday, August 7, 2007

August 7, 2007

Current listing inventory - 282 active listings in Owatonna as of today. Inventory has dropped again over the last several days and that continues to be an encouraging sign for home sellers. Average days on the market in Owatonna has crept up a bit again and is 131 days. The number of pending listings has fallen somewhat this week to 43 houses, with an average days on the market of 122. The days on the market gap has shrunk considerably the last few weeks between the active, pending & sold properties. There have been 242 properties Closed properties since 01-01-07, with an average days on market time of 123 days. Interest rates have remained stable at 6.375% on August 3, 2007. Don't forget we've made our "Sellers Guide available via the web, take a few minutes to look through the guide for tips & tricks on staging your home to sell quickly.

Wednesday, August 1, 2007

August 1, 2007

Current listing inventory - 284 active listings in Owatonna as of today. Inventory has dropped again over the last several days and that continues to be an encouraging sign for home sellers. Average days on the market in Owatonna is 128 days. The number of pending listings has risen a bit this week to 50 houses, with an average days on the market of 122. There have been 231 properties Closed properties since 01-01-07. with an average days on market time of 122 days. Interest rates have fallen a bit to 6.375% on July 31, 2007