July 18, 2007

Current listing inventory - 298 active listings in Owatonna as of today. Inventory has continued to remain high. Average days on the market in Owatonna is 129 days. The number of pending listings has fallen this week. Currently we have 49 houses pending in Owatonna with an average days on the market of 100. Pricing a home correctly is still the single most important thing a seller can do to get their home sold in our current market. Closed properties since 01-01-07. There have been 210 properties sold so far this year with an average days on market time of 124 days. Interest rates went up twice last week but have fallen a bit this week and are sitting at 6.50% on July 18, 2007. Interest rates are always stated for a 30 year fixed rate loan