Sunday, September 16, 2007

September 16, 2007

Current listing inventory - 268 active listings in Owatonna as of today. Inventory dropped slightly last week and we are hoping that is going to be a trend that will continue. Average days on the market in Owatonna has remained stable at 149 days. The number of pending listings has risen just a bit this week to 40 houses. Average days on the market is 137. There have been 288 properties Closed properties since 01-01-07, with an average days on market time of 124 days. Interest rates climbed again last week to 6.125% on September 14, 2007. All eyes will be watching the Fed on Tuesday. The Fed is expected to drop interest rates that should spur more market activity.

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