Tuesday, October 9, 2007

October 9, 2007

Current listing inventory - 253 active listings in Owatonna as of today. Inventory has climbed again over the last week and that is not necessarily a good sign. We were getting close to the 2006 high of 243 listings in October 2006 but have now moved away from that again. Average days on the market in Owatonna has dropped just a bit to 133 days. This is not always a good sign though, because as we get new listings on the market they have zero days on the market and that will skew the average quite a bit. The number of pending listings has fallen a little bit to 39 houses. Average days on the market has remained consistent at 167 days. There have been 315 properties Closed properties since 01-01-07, with an average days on market time of 126 days.

If you are a seller in todays market, you have to realistic on your price, have everything ready to go on your house, AND be patient while waiting for your home to sell. In addition there are several price ranges that have been more active in 2007 than others. You can click on the link to review the Market Absorbtion chart.

Interest Rates climbed to 6.375% on October 9, 2007. p>

No comments: