2007 is finished. Done. Gone.
Here's what happened in 2007 in Cottage Grove, MN real estate:
390 Residential Properties were sold and closed.
The minimum sold price was $114,500, and had 1 bedroom and 1 bath.
The maximum sold price was $974,900, with 6 bedrooms and 5 bathrooms.
The AVERAGE SOLD PRICE was $251,015, with and AVERAGE of 3.37 bedrooms and 2.3 bathrooms. (I know, there aren't .37 bedrooms, but its the average...)
The average days that a home in Cottage Grove was on the market and eventually sold was 126.
Compare that to 2006, for only Cottage Grove again:
523 Residential Properties were sold and closed in all of 2006.
The minimum sold price was $117,000 and had 1 bedroom and 1 bathroom.
The maximum sold price was $1,250,000 and had 7 bedrooms and 5 bathrooms.
The AVERAGE SOLD PRICE was $257,579 with an AVERAGE of 3.36 bedrooms and 2.32 bathrooms.
The average days that a home in Cottage Grove was on the market and eventually sold in 2006 was 110.
What does that tell us:
1. Homes ARE still selling
2. Homes MUST be priced right to sell
3. Buyers are able to select from a number of homes, and will search for the best home for the best price
4. To get a home sold may take longer than in the past, which is why curb appeal and staging are vital to setting a home apart from the competition.
That is why I offer FREE Staging Advice from a Professional Home Staging Expert to each listing. I also update my listings on the market - what has sold, what the competition is doing WEEKLY. I offer a FREE market assessment to people in Cottage Grove. I work with buyers for FREE, (the seller pays my fees), I e-mail new listings for a buyer's specific needs after we discuss their dreams/goals/needs in a home, I negotiate for my clients - I LOVE negotiations and get the best possible deal for my clients all the time.