Owatonna, MN Real Estate Market Conditions, March 14, 2008
By The Bartley Group SouthEast MN Real Estate
(Coldwell Banker Home Connection)
Interest Rates have fallen slightly this week to 5.875% for a 30 year fixed on March 14, 2008. Rates were volatile last week with several decreases & increases. 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 - 215 active listings in Owatonna as of today. The active listing count has climbed a bit this week. It is something we will keep an eye on.The number of pending listings is at 32 houses. There have been 36 properties Closed so far in 2008. Just slight activity this week but that that should begin to climb as we approach the end of the month. The fact that we continue to see the closed property count climb slowly and not have the pending count drop is very good. We co...
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