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.

April 30, 2007

Current listing inventory - 272 active listings in Owatonna as of today. Inventory has continued to rise through the rest of last week although not at such a rapid pace. 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 120 days. As mentioned on the 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 this week. Currently we have 47 houses pending in Owatonna with an average days on the market of 100. Just under 50% of those pendings are homes less than $150,000. What is a little puzzling currently, is that in the past we have traditionally seen those same sellers then move up to more expensive homes. However we are not seeing the same amount of activity in some of the higher price ranges. We will keep watching. Interest rates have fallen slightly, probably due to the good news on inflation and are sitting at 5.75% on April 27th.

April 23, 2007

Current listing inventory - 265 active listings in Owatonna as of today. Inventory has continued to rise through the rest of last week although not at such a rapid pace. 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 119 days. As mentioned on the 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 droopped a bit this week. Currently we have 41 houses pending in Owatonna with an average days on the market of 95. Just under 50% of those pendings are homes less than $150,000. What is a little puzzling currently, is that in the past we have traditionally seen those same sellers then move up to more expensive homes. However we are not seeing the same amount of activity in some of the higher price ranges. We will keep watching. Interest rates have fallen slightly, probably due to the good news on inflation and are sitting at 5.75% on April 19th.