Owatonna, MN Real Estate Market Conditions, August 25, 2008

Interest Rates finished the week last week at 6.375% for a 30 year fixed on Monday August 25, 2008. That is up just a bit. Interest rates have continued to be a bit unstable. We don't see interest rates coming down anytime soon.

Current real estate listing inventory - 218 active listings in Owatonna as of today. The active listing count has stayed fairly constant. We would like to see it down about 30 listings but at least it hasn't soared this summer like last year.

The number of pending listings is at 38 homes. This continues to be a good pending count however it is down a bit from previous levels. We look for it to fall quite a bit this week as we reach the end of the month.

There have been 196 properties Closed so far in 2008. Closed activity has been great over the last two months. There were 267 properties closed at this same time last year so we are down in the market 27% over 2007. BUT WE ARE STILL SELLING HOUSES! The real estate market hasn't come to an end. We will be doing a chart at the end of the month that shows how the market over the last 5 years.

Take a close look at the comparison charts. The closed chart is showing that over 43% of the homes that have closed this year had a price change and the average price change is just over $15,753. vs 55% of the active listings has had a price change (up 3%) and that average price change is $13,580. This has several possible reasons 1) Sellers are seeing the need to adjust the asking price of their home into the correct price range, to generate showing activity and offers. 2) More & more sellers are coming onto the market initially at the correct price. Take a look at these charts. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

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

Owatonna, MN Real Estate Market Conditions, August 4, 2008

Interest Rates finished the week last week at 6.125% for a 30 year fixed on Friday August 1, 2008. We have seen interest rates bounce around from 5.75% to 6.25% recently. The bond market has been flaky and that leads to instability in the home mortgage market. We don't believe that rates are going to drop much, if at all.

Current real estate listing inventory - 215 active listings in Owatonna as of today. The active listing count has remained relatively stable for the last two months. The market activity has continued to be strong. we have seen quite a few new properties come on the market but the inventory is staying at fairly stable levels.

The number of pending listings is still at 44 homes. This continues to be a good pending count when you take into account the number of homes that closed in the last two months. The number of pending has not fallen as much as we expected.

There have been 177 properties Closed so far in 2008. Closed activity has been great over the last two months. We have seen the closed count climb quite a bit.

Take a close look at the comparison charts. The closed chart is showing that over 46% of the homes that have closed this year had a price change and the average price change is just over $15,945. vs 52% of the active listings has had a price change (up 8%) and that average price change is $13,454. This is a change in the market, for the first time the active listings have a higher percentage of price changes than the closed. This is a fantastic shift in the market Take a look at these charts. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

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

Owatonna, MN Real Estate Market Conditions, June 6, 2008

Interest Rates have climbed a bit this week to finish at 6.00% for a 30 year fixed on Friday June 6, 2008. I'm hearing rumors that interest rates are going to continue to climb. This is what we predicted a few months ago. As the market begins to show signs of recovery and properties are selling more quickly, lenders no longer have as much incentive to lower rates and many will be trying to recoup some of the losses they have experienced through higher interest rates. If you have been sitting back waiting, now is the time to move. We don't believe that rates are going to drop much, if at all.

Current real estate listing inventory - 212 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. we have seen quite a few new properties come on the market but the inventory is staying at fairly stable levels.

The number of pending listings is down to 43 homes. This still continues to be a good pending count when you take into account the number of homes that closed in the last two weeks. The number of pending has not fallen as much as we expected at the end of May.

There have been 118 properties Closed so far in 2008. Closed activity has been great over the last two weeks. We have seen the closed count climb quite a bit.

If the activity that we have seen in the last 2 months is any indication, we may have seen the bottom here in Owatonna.

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 and the average price change is just over $15,836. vs 47% of the active listings has had a price change (up 3%) and that average price change is $14,075. This is the narrowest this gap has been in 2008. We believe that many sellers have gotten the message about the importance of correct pricing on their homes. Take a look at these charts. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

There are still some good deals to be had but there certainly are getting to be fewer than there were earlier this year. Confidence in the market is continuing to grow. I have heard from several lenders and appraisers that they are seeing an upturn in business as well.

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

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

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

It snowed last night!!!!

It SNOWED here last night!!!!!!! Can you believe it? It is the 26th of April and we actually have snow on the ground. AAAHHHHHHHHH!

Our dock and boatlift were put back into the water last weekend by the local ski club and were thinking about getting the boat out of storage on Sunday and putting it into the water and crusing the lake for fun. Our granddaughter (she is 4) is ready to go tubing and boating. Well maybe her life jacket will fit over her snowsuit.

Susan & I were looking at all of the perrinnials coming up in the flower gardens at home on Wednesday night and she remarked on how we had lost some to a late frost last spring. I looked at her and said " but honey it wasn't 70 degrees last spring like it is now, we'll be fine this year". Well now I have to try to get my size 11 shoe out of my mouth after those comments.

We have already hung the winter clothes away in the basement closet, packed away the hats, gloves & boots. Darn, it was really cold out this morning.

Well the nice thing about Minnesota is that the weather here will change by tomorrow. Who knows, maybe I will need the sunscreen & speedo (just kidding) by tomorrow.

Brian Bartley

Owatonna, MN Real Estate Market Conditions, April 25, 2008

Interest Rates have bounced up and down this week but finished right where they started at 5.875% for a 30 year fixed on Friday April 25th, 2008.

Current real estate listing inventory - 213 active listings in Owatonna as of today. The active listing count has dropped 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 popped up to 43 homes.

There have been 73 properties Closed so far in 2008. Awesome closing activity this week,

the count jumped up 11 for the closed and the pendings climber up 6. Best activity we have seen in months.

There are still a significant number of homes on the market that are priced way too high for the current real estate market here in Owatonna. The comparison charts point out what is selling and what has had price changes. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

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

Owatonna, MN Real Estate Market Conditions, April 20, 2008

Interest Rates have climbed a bit this week and are at 5.875% for a 30 year fixed on Sunday April 20th, 2008. The rates climbed in the latter 1/2 of the week. We will have to watch and see what is going to happen next, predictions were for rates to drop last week and they rose instead.

Current real estate listing inventory - 220 active listings in Owatonna as of today. The active listing count has grown again since last week. This has been the biggest one week jump we have seen so far this year.

The number of pending listings slid up to 37 homes.

There have been 62 properties Closed so far in 2008. Some nice closing activity this week, look for the numbers to climb as we approach the end of the month.

It is interesting that we have seen the number of active listings climb as much as they have this week because there has also been nice activity in the closed category and the pending count has climbed a bit, which means homes are still getting sold.

The comparison charts are telling us that 44.5% of our active listings have had price changes averaging $14,360, while the closed listings have seen 55% with price changes totaling $16,845. There are still a significant number of homes on the market that are priced way too high for the current real estate market here in Owatonna. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

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

Owatonna, MN Real Estate Market Conditions, April 12, 2008

Interest Rates have remained stable and are at 5.625% for a 30 year fixed on Saturday April 12th, 2008. Actually rates bounced up and down this week but finished at the same placed they ended last week.

Current real estate listing inventory - 212 active listings in Owatonna as of today. The active listing count has climbed again since last week. This has been the biggest one week jump we have seen so far this year.The number of pending listings crept up one to 35 homes.

There have been 57 properties Closed so far in 2008. Not a lot of closed activity this week, but anything is better than nothing.

The comparison charts continue to provide an insight into what is happening in the real estate market here in Owatonna. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

Showings have slowed a little this week and the early report on todays open houses show a bit of a slowdown. We do need to keep in mind however that it has been raining or snowing every day this week and that will always slow traffic down. It is supposed to be 70 by Monday though.

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

Owatonna, MN Real Estate Market Conditions, April 4, 2008

Interest Rates have remained stable and are at 5.625% for a 30 year fixed on Friday April 4th, 2008. Rates were fairly stable last week.

Current real estate listing inventory - 202 active listings in Owatonna as of today. The active listing count has dropped again since last week. This is the lowest we have seen since January of 2007, we are hoping to continue to see this count countinue to drop. 175-180 listings would be ideal.

The number of pending listings is steady at 35 homes.

There have been 54 properties Closed so far in 2008. Nice little rise since last week. We wern't expecting to see the closed count climb at all because it is the beginning of the month.

Have you take a look at the comparison charts? Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

Our main web site continues to show record numbers of visitors. March has simply blown away the record setting month we had in February. Thank you to all of you who continue to visit our sites.

Showings are still up and the phone call volume has remained high.

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

Owatonna, MN Real Estate Market Conditions, March 31, 2008

Interest Rates have remained stable and are at 5.50% for a 30 year fixed on Monday March 31, 2008. Rates were fairly stable last week.

Current real estate listing inventory - 208 active listings in Owatonna as of today. The active listing count has dropped slightly since last week.

The number of pending listings is up 4 from from last week to 35 homes.

There have been 49 properties Closed so far in 2008. Small jump since last week. Good news is that even though some listings closed last week, the pending listing count has continued to rise. The closed count will most likely be fairly stable for the next two weeks.

Have you take a look at the comparison charts. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

Our main web site continues to show record numbers of visitors. March has simply blown away the record setting month we had in February. Thank you to all of you who continue to visit our sites. Showings are still up and the phone call volume has remained high. Activity at the home show this past weekend was high with a lot of interested buyers and sellers.

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

Owatonna, MN Real Estate Market Conditions, March 24, 2008

Interest Rates have remained stable and are at 5.75% for a 30 year fixed on Monday March 24, 2008. Rates were fairly stable last week. It is still a wait and see game with mortgage rates.

Good news today, home sales up slighty in February. Is it possible we have reached bottom? Time will tell. Buyers remember, as the market begins to pick up momemtum, sellers will be less likely to negotiate home prices.

Current real estate listing inventory - 210 active listings in Owatonna as of today. The active listing count has remained fairly stable since last week.

The number of pending listings is only down one from last week to 31 homes.

There have been 45 properties Closed so far in 2008. Big jump since last week and should be more this week. Good news is that even though a bunch of listings closed last week, the pending listing count has not fallen off. We will have to watch those counts closely as we approach the end of the month.

The comparison charts continue to have interesting statistics . The Closed Listing Chart shows 55% of the properties that have closed this year have had price changes and the average decrease is $15,612.00. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

Our main web site continues to show record numbers of visitors. March has already surpassed the record setting month we had in February and there is still a week left in the month. Showings are way up and the phones call have increased considerably.

We now have all of our listings available via Virtual Tour in english and spanish.

Owatonna, MN Real Estate Market Conditions, March 14, 2008

Interest Rates have fallen slightly this week to 5.875% for a 30 year fixed on March 14, 2008. Rates were volatile last week with several decreases & increases. The FED is expected to cut rates on the 18th of March, we will have to wait and see what that will do to the mortgage market.

Current real estate listing inventory - 215 active listings in Owatonna as of today. The active listing count has climbed a bit this week. It is something we will keep an eye on.

The number of pending listings is at 32 houses.

There have been 36 properties Closed so far in 2008. Just slight activity this week but that that should begin to climb as we approach the end of the month. The fact that we continue to see the closed property count climb slowly and not have the pending count drop is very good. We continue to see homes receiving offers.

There are a few statistics that are noteworthy in the comparison charts. The average closed properties are showing that over 60% of the properties that went to closing had a price change and that price change was 10.12% and almost $16,000. 50% of the current pending listings have had price changes. Take a look at these charts they are interesting reading. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart . Let us know your thoughts.

Our main web site http://bartleygroup.com/ set a record again in February for the most number of unique visitors and the most number of visits since the inception of the site. The March website visitor count is off to a fantastic start already with over 50% of the number of unique visitors we had in February already in the first 14 days of March.

Please continue to give us feedback via comments here, by phone 507-390-2121 or email us, mailto:info@BartleyGroup.com

Owatonna, MN Real Estate Market Conditions, March 10, 2008

Interest Rates have stayed stable so far this week at 6.125% for a 30 year fixed on March 10, 2008. Rates were volatile last week with several decreases & increases. There are a large number of qualified buyers out there. They just are waiting to see what is going to happen. The FED is expected to cut rates on the 18th of March, we will have to wait and see what that will do to the mortgage market.

Current real estate listing inventory - 212 active listings in Owatonna as of today. The active listing count has remained stable. We have seen a number of homes come on the market and several are now pending, however the listing count has not climbed significantly yet. We would still love to see it drop below 200.

The number of pending listings remained at 31 houses.

There have been 33 properties Closed so far in 2008. Not a lot of closing activity since last week but that was to be expected because it is the beginning of the month.

The fact that we continue to see the Closed property count climb slowly and not have the pending count drop is very good. We continue to see homes receiving offers.

The comparison charts have generated several comments from viewers. There have been a few that liked them and a few that do not. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart . Let us know your thoughts.

Our main web site http://bartleygroup.com/ set a record again in February for the most number of unique visitors and the most number of visits since the inception of the site. The March website visitor count is off to a fantastic start already with over 35% of the number of unique visitors we had in February already in the first 10 days of March.

Please continue to give us feedback via comments here, by phone 507-390-2121 or email us, mailto:info@BartleyGroup.com