Friday, May 23, 2008

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

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