Owatonna, MN Real Estate News

By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
Interest Rates have stayed stable so far this week at 6.125% for a 30 year fixed on March 10, 2008. Rates were volatile last week with several decreases & increases. There are a large number of qualified buyers out there. They just are waiting to see what is going to happen. The FED is expected to cut rates on the 18th of March, we will have to wait and see what that will do to the mortgage market. Current real estate listing inventory - 212 active listings in Owatonna as of today. The active listing count has remained stable. We have seen a number of homes come on the market and several are now pending, however the listing count has not climbed significantly yet. We would still love to see it drop below 200.The number of pending listings remained at 31 houses. There have been 33 proper...
Comments 2
By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
Interest Rates rose this week to 6.125% for a 30 year fixed on March 7, 2008. Rates have been volatile this week. There are a large number of qualified buyers out there. They just are waiting to see what is going to happen. The FED is expected to cut rates on the 18th of March, we will have to wait and see what that will do to the mortage market. Current real estate listing inventory - 212 active listings in Owatonna as of today. The active listing count has risen slightly. The fact that the active listing count has not climbed drastically is a good thing for home sellers. As we have posted in the past, 175-180 listings would be a fairly balanced market in Owatonna. We currently are still in a buyers market but not as severely as June-July 2007. There are still a wonderful deals out the...
Comments 0
By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
Interest Rates fell last week to 5.50% for a 30 year fixed on February 29, 2008. But are up again the morning to 5.625%. Lenders, quite frankly are not helping the market right now. There are a large number of qualified buyers out there. There are several good signs about the real estate market here in Owatonna. Current real estate listing inventory - 209 active listings in Owatonna as of today. The active listing count has drpped slightly. The fact that the active listing count has not climbed is a good thing for home sellers. As we have posted in the past, 175-180 lostings would be a fairly balanced market in Owatonna. We currently are still in a buyers market but not as severly as June-July 2007. There are still a wonderful deals out there for buyers to jump on. We are including link...
Comments 4
By Lynn Johnson, Owatonna, MN Real Estate
(Coldwell Banker Home Connection)
The other day I was out and about enjoying the sunshine and I wanted to capture a few of the landmarks and attractions around Owatonna. I've really enjoyed the park trails this winter and have spent a fair amount of time in Kaplan's Woods hiking around the trails. It's been a great way to enjoy winter, get some fresh air and some exercise. It's been great.I recently put this post together - I hope you like these photos as much as I do. Owatonna's a great place to live, work and play. Just take a look . Owatonna Highlights 
Comments 0
By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
Interest Rates fell this week to 5.75% for a 30 year fixed on February 22, 2008. Lenders, quite frankly are not helping the market right now. There are a large number of qualified buyers out there. We have heard through the grapevine that one major lender is going to be buying down the rate slightly on home purchase loans. That is very good news. There are several good signs about the real estate market here in Owatonna.Current real estate listing inventory - 212 active listings in Owatonna as of today. The active listing count has remained stable the last few weeks. The fact that the active listing count has not climbed dramatically is a good thing for home sellers. As we have posted in the past, 175-180 lostings would be a fairly balanced market in Owatonna. We currently are still in ...
Comments 0
By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
Interest Rates rose again today to 6.125% for a 30 year fixed on February 22, 2008. Lenders, quite frankly are not helping the market right now. There are a large number of qualified buyers out there. We have heard through the grapevine that one major lender is going to be buying down the rate slightly on purchases. That is very good news. Current listing inventory - 211 active listings in Owatonna as of today. The active listing count has remained stable the last few weeks and that is a good sign because we have seen the pending count climb. Open houses on Saturday were awesome, all 3 members of our group hosted Open Houses and we had traffic through all of the houses. That is a great sign that things are picking up. The number of pending listings remained at 26 houses. Again this is a...
Comments 0
By Lynn Johnson, Owatonna, MN Real Estate
(Coldwell Banker Home Connection)
We currently have 210 homes on the market in Owatonna, MN.  The average list price for those homes is $191,614 and they have been on the market for an average length of 176 days.  Year to date 26 homes have sold and those have an average sale price of $174,545 and have taken an average of 143 days to sell.    View of Dartts Park - What a great scene!Interest rates are down from this time last year.  We have a terrific selection of homes.  Employment remains steady and the economic outlook for Owatonna and our region looks very positive.  We're so fortunate to have a variety of employers who cross into diverse industries.Winter is hanging on - but it's been a beautiful one.  The walking trails are cleared throughout the season, and many people enjoy cross country skiing, snowshoeing, sle...
Comments 2
By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
Interest Rates rose to 6.0% for a 30 year fixed on February 22, 2008. Lenders have not been willing to lower rates right now, but we did hear today that one major lender is going to be concentrating efforts on purchases rather that re-fis. That is very good news. Current listing inventory - 210 active listings in Owatonna as of today. Showings have begun to pick up again and we are hoping for a good turnout at Open Houses tomorrow. The number of pending listings remained rose slightly this week to 26 houses. Again this is a good sign as we continue to see the pending count rise it means homes are receiving acceptable off to purchase. There have been 24 properties Closed so far in 2008. The under $200,000 market has been the strongest so far this year. Almost 80% of the homes sold so far...
Comments 3
By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
I was sitting at my desk this morning working on the computer when one of my partners (Todd) arrived at the office. Now mind you that my partners are Susan (my wife) and Todd (our son-in-law). Todd had in tow his son (our grandson) Thomas (almost 7) who had just been diagnosed with strep throat at the doctors office and couldn't go back to school or to day care. Thomas walked into our office, dropped his coat on Susan's desk, kicked off his boots next to my desk and crawled up on my lap. He proceeded to sit there while I reached around him on each side so I could still reach the keyboard. I answered a multitude of questions on what I was doing & why and explained why we couldn't go to Leggo.com right then. After sitting with me a while he hopped down and began to rummage in our office ...
Comments 10
By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
Interest Rates rose to 5.875% for a 30 year fixed on February 18, 2008. Mortgage rates have been somewhat strange over the last 20 days. They are up a bit right now. Current listing inventory - 212 active listings in Owatonna as of today. We have seen quite a few showings through the month of January but showings have tepered off the last week. Right now buyers seem to be confused about interest rates and are just sitting back waiting for rates to come down and stabilize a bit. The FED has dropped the wholesale rate several times, however many lenders are keeping mortgage rates high trying to recoup some of their sub-prime losses. In addition many secondary investors are asking for a higher returns for the same reason. The number of pending listings remained rose slightly to 23 houses. ...
Comments 0
By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
This post is going to change direction slightly from the normal market conditions & property pages that we usually post here. Several weeks ago members of the Southeast Minnesota Association of REALTORS (SEMAR)(of which Brian is on the Board of Directors) moved to a new Multiple Listing Service (MLS) software system. This move was long overdue and was a giant leap in technology. It has give some awesome capabilities to local REALTORS, however like any change it has presented its challenges as well. Many of you have read our previous posts and some have even commented or e-mailed us on the changes in the reports that we post here regularly. We continue to invest time and energy into learing this system so that we may provide our clients with the very best service available. This MLS soft...
Comments 0
By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
Interest Rates fell to 5.5% for a 30 year fixed on February 11, 2008. Mortgage rates have been somewhat strage over the last 14 days or so the took a big drop on the 22nd of January for about 3-4 hours and then bounced back up again. The continue to move around between 5.375% & 5.625% every couple of days. Current listing inventory - 207 active listings in Owatonna as of today. As we speculated last week many of the expired listings came back on the market and brought the count back up. We are continuing to see strong market activity with the number of showing requests that have been scheduled. In addition our website set a record last month for the most number of visitors since we launched the site 6 years ago. Those are the positive signs that we are looking for.The number of pending ...
Comments 0
By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
Interest Rates rose to 5.5% for a 30 year fixed on February 4, 2008. The Fed dropped interest rates .5% at a meeting last week. This has not actually resulted in mortgage rates falling yet but it has sparked a tremenous amount of consumer interest. Current listing inventory - 195 active listings in Owatonna as of today, that is the lowest the count has been since January of 2007. However it is primarily due to a large number of listings expiring last week (many of them ours)and they will be coming back on the market. The number of pending listings remained stable at 17 houses. There were 19 properties Closed so far in 2008. The 2007 year end market absorption chart is available and has quite a bit of interesting data.Give us a call, 507-390-2121 or email us, mailto:info@BartleyGroup.com
Comments 0
By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
Interest Rates rose to 5.5% for a 30 year fixed on January 28, 2007. Rates had a roller coaster ride last week, one lender told us that rates changed 4 times in one day last week. The Fed dropped interest rates .75% at an emergency meeting last week. This has actually resulted in mortgage rates creeping up a bit. It is going to take us a few more days to learn all of the capabilities of the new MLS system and to provide you with the most comprehensive data available. Current listing inventory - 212 active listings in Owatonna as of today, that number has remained stable for several weeks now. The number of pending listings climbed a bit to 17 houses. There were 15 properties Closed so far in 2008. The 2007 year end market absorption chart is available and has quite a bit of interesting ...
Comments 0
By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
Our new property search function is now available. You are now able to search for properties from all cooperating brokers in the entire South East Minnesota area. You can view multiple photos, virtual tours, complete listing information, room sizes and for some homes, seller disclosures. We are extremely excited about this new technology. In addition, dynamic map searching is coming in February. Please drop us an e-mail if there is additional technology you would like to see us provide for home buyers & sellers, info@BartleyGroup.com
Comments 0
By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
Interest Rates have fallen to 5.25% for a 30 year fixed and 4.75% for a 15 year fixed on January 15, 2007. Rates haven't been this low since around 2003. Buyers if you have been fence sitting waiting for the market & interest rates to bottom out, it sure seems like we are just about there. There is a nice selection of homes, prices are reasonable and interest rates are incredibly low. All in all, a great time to purchase a home.Current listing inventory - 212 active listings in Owatonna as of today, that number has remained stable for several weeks now. Average days on the market has slid slightly to 173 days. The number of pending listings fell a bit to 16 houses. Average days on the market for pendings is 142 days. There were 7 properties Closed so far in 2008, with an average days on...
Comments 0
By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
Interest Rates have fallen to 5.375% on January 8, 2007. This is more of a reduction than we expected. It seems like rates may drop just a bit more, but all of the lenders we've spoken with aren't sure how much and for how long rates will stay down.Current listing inventory - 208 active listings in Owatonna as of today, that number has remained stable for several weeks now. Average days on the market has remained steady at 176 days. The number of pending listings climbed slightly to 19 houses. It is good to see this number begin to rebound slightly. It will still be something to keep an eye on as we move forward into the new year. Average days on the market for pendings is 146 days. There were 7 properties Closed so far in 2008, with an average days on market time of 65 days. We realize...
Comments 0
By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
Interest Rates have fallen to 5.50% on January 4, 2007. This is what we expected to happen in January, it just happened a little earlier in the month than usual. Lenders typically reduce interest rates in January to stimulate business. These rate decreases usually last several weeks and then the rates pop up again.Current listing inventory - 208 active listings in Owatonna as of today, that number has remained stable since last week. Average days on the market has risen a bit to 176 days. The number of pending listings dropped to 17 houses. We would have like to have seen the pendings begin to rebound more quickly not continue to fall. In will be something to keep an eye on as we move forward into the new year. Average days on the market for pendings is 136 days. There were 397 properti...
Comments 0
By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
Ok here come the first of the statistics comparing 2007 to 2006. First of a bunch of statistics we hope to have posted here in the next week or so. 2007 - Closed - 401 Properties 2006 - Closed - 439 Properties Down 38 Properties or 8.7% (not as bad as the media would have you believe) 2007 - Days on Market - 115 2006 - Days on Market - 94 Up 21 days or 22% (certainly not good, but not horrible either) Highest price property sold in 2007 - $556,646 Highest price property sold in 2006 - $417,000 A big gain here Lowest price property sold in 2007 - $23,578 Lowest price property sold in 2006 - $37,000 Down a bit here Average Sale Price 2007 - $169,524 Average Sale Price 2006 - $172,628 Down a bit here last year and down from 2005 (but even here we are not down horribly far) We will be going...
Comments 0
By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
WOW, feels weird to be typing 2008. We are looking forward to some fabulous things for 2008. Well here we go with the first market update of the new year. Interest Rates have fallen today to 5.625% on January 2, 2007. This is what we expected to happen in January, it just happened a little earlier in the month than usual. Lenders typically reduce interest rates in January to stimulate business. These rate decreases usually last several weeks and then the rates pop up again.Current listing inventory - 208 active listings in Owatonna as of today, that number has remained stable since last week. We didn't make the goal we were hoping for of 200 or less listings by the end of 2007 but we have remained fairly soild where we are. Average days on the market has dropped slightly to 170 days. Th...
Comments 1
Explore Owatonna, MN
Owatonna, MN Real Estate Professionals