According to data provided by the Regional Multiple Listing Service of Minnesota, Rice County has 387 active home listings with 566 closed sales so far this year. There are 85 accepted offers awaiting closing, which suggests that, with another two and a half months left, 2011 could be a fairly good year. Total homes sold should easily exceed the 2010 total of 642.
Like much of the rest of the country over the last few years, Rice County has experienced a decrease in number of homes sold. The steep price drops over that period seem to have slowed. Although there is no reason to believe that home values will return to the levels of five years ago, it's comforting to see some stability to current levels. As the overall economy improves, the housing market should do likewise.
This is a great time for anyone who is willing and able to consider graduating from renting to owning. Rice County financing options include zero down payment programs and easy qualifying. If you're thinking about firing your landlord, call or email to arrange a new home buyer orientation and buying strategy session. You may find that owning your own home makes more sense than renting.
If you're a home owner who has had your home on the market with nothing to show for it but an expired listing and a fishbowl full of showing agents' business cards, call or email, and I'll prepare a failed listing analysis. It may nor be pretty, but it will be accurate.