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Austin, MN - Real Estate Market Conditions, June 6, 2008

Interest Rates have climbed a bit and they are currently at 6.00% for a 30 year fixed on Friday June 6, 2008.

Current real estate listing inventory - 239 active listings in Austin as of today. Listing count has climbed just a littlesince the last post. The fact that it is continuing to climb is something we need to watch carefully

There are 29 properties currently pending, that is down just a lot from the last post. Some of this was to be expected because the end of May is typically a very busy time for closings. However we would liked to have seen the count maintain itself a little bit stronger. There have been 148 properties Closed so far in 2008. We had expected to see this count jump up a lot at the end of the month and it did. The good news is that properties are continuing to sell.

Take a look at the comparison charts. The closed chart is showing that over 55 % (down 4%) of the homes that have closed this year had a price change and the average price change is $14,172. vs only 48.5% (up 2%) of the active listings has had a price change with an average of $15,019. Take a look at these charts. Active Comparison Chart - Pending Comparison Chart - Closed Comparison Chart .

We are seeing fewer & fewer great deals in the market right now. If you have been sitting on the fence, now would be a good time to jump in. Give us a call. Our New Austin # is 507-440-5703

Posted by The Bartley Group - SouthEast MN Real Estate on 06/09/2008 02:25 PM

Comments (3)

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3 Comments on Austin, MN - Real Estate Market Conditions, June 6, 2008

Thanks for the update...it is nice to see what other areas around the Country are doing.

06/09/2008 02:33 PM

by Team DiMuria, Katy Texas Realtors (Prudential Gary Greene Realtors)

Thanks for stopping by. I'm not sure how things in Texas are going but our confidence is picking up here in southern MN

Brian

06/09/2008 02:36 PM

by The Bartley Group - SouthEast MN Real Estate (Coldwell Banker Home Connection)

enjoyed reading your past blogs.. I noticed you havent written in about a month. you probably are just busy.

However, do you also you use an outside blog primarliy? or maybe AR just wasnt worthwhile venture for getting business.

thanks for sharing any insight and keep up the good work.

07/07/2008 12:16 AM

by James Wexler, Associate Broker~Coldwell Banker (Coldwell Banker)

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