I’ll admit these numbers surprised me a little. I expected the average sales price to be flatter over the last 2-3 years. In reality this is what we are seeing in most situations, no major price moves. Averages can be tricky with less homes being sold. One or two homes selling for over $500K can have a bigger effect on the average and skew the numbers higher. I suspect that has something to do with the recent price gains. However, it is good to see lakeshore properties in this … (1 comments)
ottertail: Total sales slide for Lake Shore
- 01/13/09 12:30 PM
While doing a market analysis-price opinion on a home, I dug up some of the following data on Lakeshore Residential properties in Otter Tail and Becker counties, MN: Detroit Lakes MLS total closed sales (Apr-Dec)2006 2172007 1882008 176 Fergus Falls MLS total closed sales (Apr-Dec)2006 1472007 1402008 124 Lake home sales have definitely slacked off over the last two years. Another factor in the market slow down is the significant increase in properties listed for sale. In just the last year, the monthly average for active listings has increased by 25%!Homes are still selling, although it takes longer (140+ days), and … (0 comments)
ottertail: Excess supply continues in MN Lakeshore Property
- 11/14/08 03:59 AM
Lakeshore sales in the Ottertail and Becker county region remain flat thrugh 2008. As the summer selling season comes to a close, the total number of closed sales for lake shore homes shows a similar pattern to that of 2007. Although still down from the peaks of ‘05 & ‘06, we are fortunate that we have not seen the major market crash as seen in other portions of the country.
The real change in the current market is the increase of properties listed ‘For Sale'. A significant addition of lake homes on the market has created a buyers market for … (1 comments)
ottertail: Lake Homes Market Report for MN, Ottertail & Becker Counties
- 09/11/08 07:28 AM
How is the market for Lake Homes in the Ottertail and Becker Lakes area? Let's take a look at some of the numbers from the area Multiple Listing Services....[Side Note: I belong to the the Detroit Lakes area MLS as well as the Fergus Falls area MLS. Combined they give a very good picture of what is happening over the entire Minnesota, Ottertail and Becker county Lakes Area.] In general, Lakeshore properties are taking much longer to sell, and Buyers have more choices than ever before.
Without getting too detailed into the specifics, the chart shows two trends. Lake homes sell … (1 comments)
Sales figures for Lakeshore Residential Properties Feb & Mar 2009:
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