Tuesday, November 11, 2014

Crow Wing County Monthly Market Report

There is a chill in the air, but that does not mean the housing market in Crow Wing County is cooling.  For the month of October the number of new home listings rose by 4.4% to a total of 2,107 listings.  Overall the number of homes for sale in October fell slightly with a 3.8% drop over this period of time last year.

Pending home sales, which a strong indicator of what closed sales will be in the months to come, increased in October by 1.2% over the previous year.  Good news for home sellers, the total number of closed home sales last month in Crow Wing County increased by 6.9% when compared with year-over-year numbers. 

Homes are selling quickly. The median days a home is spent on the market dropped by 55.6% to 60 days, down from 135 days this time last year.   The average days a home is spent on the market in Crow Wing County dropped by 32.7% over last year to an average of 136 days in October. Not only are homes selling more quickly, they are selling for more.  In October the median sales price of home in Crow Wing County increased by 3.1% to $164,800, and the average sales price ended at $205,162 last month.

If you are looking to buy or sell a home in Crow Wing County, 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