Friday, May 23, 2008

Owatonna, MN Real Estate Market Conditions, May 23, 2008



Interest Rates have bounced this week but finished right where they started at 5.75% for a 30 year fixed on Friday May 23, 2008.

Current real estate listing inventory - 207 active listings in Owatonna as of today. The active listing count has climbed again over the last two weeks. The market activity has continued to be strong. Little bit slow the last couple of days as we approach the holiday weekend.

The number of pending listings is down one to 49 homes. It still continues to be an awesome pending count. Look for it to drop quite a bit though as we reach the end of the month.

There have been 97 properties Closed so far in 2008. Closed activity has been great over the last two weeks. Not at all what we expected during the first two weeks of the month. Look for the closed count to climb as we get to the end of the month.

Is the activity that we have seen in the last month an indication that we have seen the bottom? We aren't sure, only time will tell, but the activity continues to be refreshing. One thing we have noticed is that the number of listing with price changes seems to slowing.

Take a look at the comparison charts. The closed chart is showing that over 47 % of the homes that have closed this year had a price change (down 3%) and the average price change is just over $17,000. vs only 44% of the active listings has had a price change (down 2%) and that average price change is $13,766. Check out these charts. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

There are still some great deals to be had but please stop waiting for the bottom to fall out. We are getting more confident that we have seen the worst here in SE Minnesota. Give us a call and let us show you what is happening in the market right now. 507-390-2121


We have all of our listings available via Virtual Tour in English, Spanish and also in French

Austin, MN Real Estate Market Conditions, May 23, 2008



Interest Rates have remain somewhat stable and they are currently at5.75% for a 30 year fixed on Friday May 23, 2008.


Current real estate listing inventory - 232 active listings in Austin as of today. Listing count has climbed quite a bit since the last post. We will keep an eye on that and see if it falls again or will continue to climb.


There are 45 properties currently pending, that is down just a bit from the last post.


There have been 125 properties Closed so far in 2008. Look for the clsoed count to climb and the pending count to drop as we get closer to the end of the month.

Take a look at the comparison charts. The closed chart is showing that over 59.2 % of the homes that have closed this year had a price change and the average price change is $13,696. vs only 46.5% of the active listings has had a price change with an average of $16,137. Check out these charts. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .



Please don't miss the terriffic deals that are available in the market right now. If you have been sitting on the fence waiting, now is the time to get serious. As the inventory gets closer to that balanced market, your ability to negotiate with sellers falls dramatically. Give us a call and let us show you what is happening in the market right now. Our New Austin # is 507-440-5703


Tuesday, May 13, 2008

Austin, MN Real Estate Market Conditions 05-13-08

OK, here we go with the first installment of our new Austin market condition blog. We are going to try to keep everyone up to date on what is happening in the Austin, MN real estate market. The first few posts will help establish a baseline for analysis in the months to come. In a few weeks we hope to add Albert Lea, MN to the Blog as well. Let us know what you think.

Interest Rates have bounced around between 5.625 & 5.75 for several weeks now, they are currently at5.75% for a 30 year fixed on Tuesday May 13, 2008.

Current real estate listing inventory - 196 active listings in Austin as of today.


There are 48 properties currently pending


There have been 110 properties Closed so far in 2008. Look for the clsoed count to climb and the pending count to drop as we get closer to the end of the month.

Take a look at the comparison charts. The closed chart is showing that over 61 % of the homes that have closed this year had a price change and the average price change is just over $14,000. vs only 47% of the active listings has had a price change. Check out these charts. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

Please don't miss the terriffic deals that are available in the market right now. If you have been sitting on the fence waiting, now is the time to get serious. As the inventory gets closer to that balanced market, your ability to negotiate with sellers falls dramatically. Give us a call and let us show you what is happening in the market right now. Our New Austin # is 507-440-5703

Wednesday, May 7, 2008

Owatonna, MN Real Estate Market Conditions, May 7, 2008



Interest Rates have fallen twice this week and are currently at 5.75% for a 30 year fixed on Wednesday May 7, 2008.

Current real estate listing inventory - 196 active listings in Owatonna as of today. The active listing count has dropped again this week. We haven't been this low in the Active listing count since the end of December 2006. This has been a great couple of weeks for real estate. We have about 20 more listings to go before we reach what has traditionally been a balanced market in Owatonna. That number has usually been in the 170-180 active listing range.

The number of pending listings has climbed again to 50 homes. This is one of the best pending counts we have had in quite a while.

There have been 81 properties Closed so far in 2008. Closed activity has remained static this week but that was to be expected during the first two weeks of the month. Look for the cloed count to climb and the pending count to drop as we get closer to the end of the month.

Is the activity the last several weeks an indication that we have seen the bottom? We aren't sure, only time will tell, but the increased activity is reassuring.

Take a look at the comparison charts. The closed chart is showing that over 50 % of the homes that have closed this year had a price change and the average price change is just over $16,000. vs only 88 of the 196 active listings has had a price change and that average price change is $13,795. Check out these charts. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

Please don't miss the terriffic deals that are available in the market right now. If you have been sitting on the fence waiting, now is the time to get serious. As the inventory gets closer to that balanced market, your ability to negotiate with sellers falls dramatically. Give us a call and let us show you what is happening in the market right now. 507-390-2121


We have all of our listings available via Virtual Tour in English, Spanish and also in French

Thursday, May 1, 2008

Owatonna, MN Real Estate Market Conditions, May 1, 2008



Interest Rates have fallen twice this week and are currently at 5.50% for a 30 year fixed on Thursday May 1, 2008.

Current real estate listing inventory - 205 active listings in Owatonna as of today. The active listing count has dropped again this week. There have been a few properties expire but mainly the number dropped because there were homes selling quickly this past week.

The number of pending listings has remained solid at 43 homes.

There have been 81 properties Closed so far in 2008. Brisk closing activity again this week, the count jumped up 8 for the closed and the pendings remained firm. Best 2 week span of activity activity we have seen in almost a year..

Have we possibly seen the bottom? We aren't sure, only time will tell, but the increased activity is reassuring.

Have you checked out the comparison charts? They really point out what is selling and what has had price changes. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

Inventory has been creeping down as well as interest rate. If you have been sitting on the fence waiting, you are missing some incredible deals going on in the market right now. Give us a call and let us tell you about some of these bargains.
507-390-2121


We have all of our listings available via Virtual Tour in English, Spanish and also in French