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
 
This post has been included in Minnesota Real Estate News Steele County, MN Real Estate News Owatonna, MN Real Estate News
Post is included in group: Coldwell Banker Group
Post is included in group: Almost Anything Goes
Post is included in group: Minnesota's Nice :)
Post is included in group: Coldwell Banker Nationwide
Post is included in group: Coldwell Banker Platform for Sharing Information

3 Comments on Owatonna, MN Real Estate Market Condition Report April 20, 2008

APR
20
2008
254,582 Points Outside Blog
Still a great rate for the buyers. Ye who hesitates, pays more.
11:50am • #1
Localism Sponsor

Duane, I agree. 5.875 is still a great rate, especially given the fact home prices are as reasonable as they are right now.

Brian Bartley
11:56am • #2
254,582 Points Outside Blog

Brian, so true and thats the bonus for the buyers.
12:16pm • #3


Spam prevention

To submit the form,
drag the camera to the circle on the side.

Image?id=95de661cc70e60c4fe686ea55ee88b0fb75b9ef1 Image?id=e9bac86cef2efd4db309cf9137e1930193030648 Image?id=033228729b2556114bce92a8a49ada50e08b6a50 Image?id=2d0429ec30160c0e790adc1065b19239c476d8a8 Image?id=e29dcd544a6c4954fa711360fa1c75bba125b641

Accessibility option: listen to a question and answer it!

Type below the answer to what you hear. Numbers or words, lowercase:
Leave a response…

(optional)
Spam prevention

To submit the form,
drag the house to the circle on the side.

Image?id=e82c528466df304a365820c6ec5e65c2c8225da2 Image?id=0a54f09f5ff6a4a989e1be291971a128cb79e2cb Image?id=2c16473c56b3f0ba286a32ad90f7b60783535468 Image?id=58c74bde4798e8527656030aa27ea827ad58b8b2 Image?id=a3e6c91fa8f47e7374c7a379e5ee8d2189068111

Accessibility option: listen to a question and answer it!

Type below the answer to what you hear. Numbers or words, lowercase:
 

The Bartley Group - SouthEast MN Real Estate

Owatonna, MN

More about me…

Coldwell Banker Home Connection

Address: 641 W. Bridge Street, Owatonna, MN, 55060

Office Phone: (507) 390-2121

Email Me



Links

Archives

RSS 2.0 Feed for this blog