Wednesday, September 18, 2013

Crow Wing County Monthly Market Report

Fall is quickly approaching and a new chill is in the air, but the housing market is still hot.  The number of pending home sales continues to increase. Last month pending home sales were up 10.10 percent with a total of 142 pending sales, over last year.  This number is a good indicator of the number of closed sales we will see in the months to come.

The great news for sellers is not only are home prices on the rise, but so are the number of days the home remains on the market.  The number or days a home remains on the market decreased by 7.30 percent last month when compared to year over year numbers. 

The average sales price dropped slight by .10 percent to a new average price of $226,323. Sellers received more of their original price of their home, which was up 4.9 percent in August. Sellers are now receiving on average 94% of their original listing price.

There continues to be a decrease in the number of inventory homes for sale in Crow Wing County and across the nation. Increased demand and low supply is at times causing bidding wars to break out on homes for sale.  The number of inventory homes was down 11 percent over last year.

If you are looking to buy or sell a home in Crow Wing County this fall, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

 

Bill Grunewald/ Edina Realty.

Licensed in Minnesota/ Lic # 20204156