Owatonna Real Estate Buzz

We've seen some recent drops in the mortgage interest rates. It looks like a positive time for buyers to think about moving. It's been a good time for buyers to find terrific values for homes in Owatonna. Here are the statistics for Owatonna's market through 6/16/09:

Sold 111 homes at an average sale price of $137,108 within an average market time of 112 days. Houses are selling for an average of 95.46 percent of the last list price and 90.18 percent of the original list price. We're still down in homes sold and volume from 2008, but we're seeing that gap close as the summer months heat up. The current listings have an average list price of $190,682 and they've been on the market for an average of 155 days. There are so many terrific values available right now.

Our lot inventory is plentiful with 366 lots currently available at an average list price of $45,024. We're fortunate to have many nice areas for building to choose from. We've seen a significant decrease in the number of building permits issued this year.

Market information is reliable but not guaranteed from the Southeast Minnesota Association of Realtors