April seems to be the start of spring - not just regarding the weather - but as a sign of our real estate market. We've seen some positive signs in the market and we sure hope that continues. Our average sale price is still down from this time a year ago, but we expect that to increase with time and at least hold even with last year.
As of the first of the year we've seen 53 homes sell in an average of 102 days at an average sale price of $130,432 which is 96.38% of the list price and 93% of the original list price. We currently have 223 houses on the market at an average list price of $170,470 and they've been on the market for an average of 178 days.
We find that homes will sell- with emphasis on condition and price. Pricing remains critical, just as it has been for the last 4 years, and homes need to be in top notch condition when they come on the market. Certain price ranges are seeing strong activity, while others (upper ranges) see very little activity. How's your market looking?
Lynn Johnson, CRS, GRI, MBA
Broker/Owner
Owatonna Real Estate Pros
Coldwell Banker Home Connection
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