Well, the beauty of Fall surrounds us and we're in the middle of our Coldwell Banker10 day sale promotion. We're hoping to cap off a strong summer with continued sales through the end of the year. So far this year our entire MLS seen residential home sales in Owatonna of 245 with an average sale price of $163,918. Those homes were on the market for an average of 138 days.
We currently have 208 homes on the market for sale. The average list price of those homes is $184,471. We tend to see higher average prices on the active listings because the lower priced homes have been getting more activity due to the strength of first time home buyers in our market. The current listings have been on the market an average of 148 days.
There have been 12 building lots that have sold so far this year. Those lots sold for an average of $48,958. We currently have a good supply of lots available for building with 383 in various developments throughout Owatonna. Those figures are down significantly for lot purchases as compared to previous years. Hopefully we start to see a rebound soon in the new construction demand.
It continues to be a positive time for buyers to purchase a home - we have a great selection, at good values, and rates are very affordable.
This information is from the Southeast Minnesota Association of Realtors.
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