Sunday, December 14, 2014

Crow Wing County Monthly Market Report

The holidays are here and it is typical for the housing market slows during this period of time. However, there are still many home buyers out there that are serious about buying and they are continuing to search for their new home in Crow Wing County.

In the month of November the number of new listings on the market compared to this time last year dropped slightly to 70 new listings compared to 79 in 2013. There continues to be a shortage in the number of available homes for sale. The months supply of homes for sale decreased last month by 4.8 percent. The good news is pending home sales, which are good indicators of future home sales, increased last month by 1.5 percent year-over-year. The number of closed sales also increased in November by 0.2 percent over this period of time last year.

The number of median days a home remains on the market continues to drop. Year-over-year the median number of days a home is on the market fell by 9.3 percent to 92 days. Home sale prices continue to rise. The median sale price in November increased by 12.2 percent to $161,500. The average sale price in November increased by 6.9 percent to $204,717. The average percent of original sale price that sellers are receiving continues to rise. Last month sellers received 92.5 percent of their original asking price.

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