June 6th, 2007

Current listing inventory - 278 active listings in Owatonna as of today. Inventory has climbed again this week and was actually up to 281 for a short while. Average days on the market in Owatonna has dropped a bit again this week to 125 days. The number of pending listings has fallen this week which we expected because of the number of closings scheduled for the end of May. Currently we have 51 houses pending in Owatonna with an average days on the market of 92. An interesting point to compare is the average days on market between the active & pending properties. Pricing a home correctly in the first 30 days it is on the market is still the single most important thing a seller can do to get their home sold in the current market. Interest rates have jumped a bit this week and are sitting at 6.255% on June 6, 2007.

June 1, 2007

Current listing inventory - 272 active listings in Owatonna as of today. Inventory has climbed a bit this week which is a little surprising because there have been quite a few closings this week because of the end of the month. Average days on the market in Owatonna has dropped a bit this week to 128 days. The number of pending listings has fallen this week which we expected because of the number of closings. Currently we have 60 houses pending in Owatonna with an average days on the market of 93. An interesting point to compare is the average days on market between the active & pending properties. Pricing a home correctly in the first 30 days it is on the market is still the single most important thing a seller can do to get their home sold in the current market. Interest rates have jumped a bit this week and are sitting at 6.125% on May 31st.

May 29, 2007

Current listing inventory - 268 active listings in Owatonna as of today. Inventory has remained stable for the last 2 weeks. Levels had been trending downward over the last 6 months but have recently set new highs. Average days on the market in Owatonna has crept up a little more again this week to 129 days. The number of pending listings has remained stable this week. Currently we have 65 houses pending in Owatonna with an average days on the market of 95. An interesting point to compare is the average days on market between the active & pending properties. Homes that are priced correctly for the current market are receiving offers while those that are priced too high still languish in the active category. Interest rates have held steady, and are sitting at 6.00% on May 29th.

May 21, 2007

Current listing inventory - 267 active listings in Owatonna as of today. Inventory has dropped slightly. Levels had been trending downward over the last 6 months but have recently set new highs. Average days on the market in Owatonna has crept up slightly to 124 days. The number of pending listings has risen again this week. This is a good sign, homes are still selling here in Owatonna. Currently we have 65 houses pending in Owatonna with an average days on the market of 105. An interesting point to compare is the average days on market between the active & pending properties. Homes that are priced correctly for the current market are receiving offers while those that are priced too high still languish in the active category. Interest rates have risen slightly, and are sitting at 6.00% on May 21st.

May 7, 2007

Current listing inventory - 272 active listings in Owatonna as of today. Inventory has remained stable for the last 10 days. Levels had been trending downward over the last 6 months but have recently set new highs. Average days on the market in Owatonna has fallen to 118 days. As mentioned on April 16th this is probably due in part to the number of new listings on the market, new listings = many listings with low days on the market. The number of pending listings has risen a bit again this week. This is a good sign, homes are still selling here in Owatonna. Currently we have 54 houses pending in Owatonna with an average days on the market of 99. An interesting point to compare is the average days on market between the active & pending properties. Homes that are priced correctly for the current market are receiving offers while those that are priced too high still languish in the active category. Interest rates have risen slightly, and are sitting at 5.875% on May 4th.