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.

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

No comments: