What's the Buzz in the Owatonna Real Estate Market?
We've seen some good showing activity lately, and we continue to be pleased with the values that are available for buyers right now. We like to focus on the many positive things that are happening in our area - things that help buyers understand the opportunities that are out there in our Owatonna housing market.
We still have some zero down programs open to buyers in our community. The interest rates are terrific and offer affordable options like no other time in recent history. We've seen a slight drop in available inventory but we expect that to increase as Spring approaches.
So far this year we've seen 20 residential sales in Owatonna as compared to 23 for the same time last year. The average sale price of homes is $161,175 which is up from the aggregate average sale price from 2008. It takes an average of 130 days to sell which is (so far) down from 136 days this time last year. We currently have 176 homes in the market and the average list price of those homes is $195,486 with an average time on market of 176 days.
What will 2009 bring? Let's hope that the stimulus plan, the (up to) $8000 tax credit, and continued low interest rates will help buyers feel comfortable taking the steps they need to become proud homeowners - and we'll be there to help them