Owatonna Minnesota Real Estate Buzz for 3/10/09

What's the buzz so far this year?

We're seeing a strong surge of first time real estate buyers and investors. Both of those markets have been active and there seems to be a good supply of homes that appeal to both. We've noticed their influence in the average price of the homes that are pending and sold so far this year.

The 34 homes sold in 2009 year to date within an average of 107 days at an average of 94% of the list price and an average of 88.8% of the original list price. There are 47 homes that are pending sale with an average list price of $125,334. The 173 active listings are priced at an average of $197,479 and have been on the market for an average of 177 days.

This information has been provided by the South East Minnesota Association of Realtors.

The stimulus plan will put money in the pockets of those first time home buyers and hopefully continue the momentum through 2009.

We have a plentiful supply of building lots available with a variety of options and neighborhoods available. We've seen a definite decrease in the number of building permits that have been issued and we're hopeful to see things turn around for the builders in our area.

If you're thinking of buying or selling you can put our Owatonna Real Estate Pros (Chad Hacker and Lynn Johnson) team to work for you. Reach at us Coldwell Banker Home Connection at 507-451-8080.