Home sales in the Greater Lakes region in January were once again up compared to a year ago at 93 closed sales, an increase of 34.8 percent from a year ago. That's the fifth consecutive month where the change compared to a year ago has been positive.
The increase in sales has led to stabilizing home prices. January's median sales price of $124,405 was 1.4 percent higher than a year ago. Yes, rising prices are ordinarily a pretty ho-hum and normal thing, but in light of the drop in prices that most parts of the country have seen over the last several years, "ho-hum" is a welcome phrase these days.
The Months Supply of Inventory in the region has decreased in the last year to 17.3, down 7.8 percent from the mark of 18.7 seen a year ago. That's still a very high mark, which means sellers still face challenging conditions that require smart pricing, home staging and intensive marketing.
Home not selling -ready to try something different?
Kathleen Lordbock -The Staging & Selling Team
Welcome from the Brainerd Lakes - where outdoor and indoor recreational opportunites abound. Looking to buy on one of our many lakes? Ready to move up or down? Having trouble selling your home? Falling behind on payments or already in the foreclosure process? I am a Certified Short Sale Specialist as well as a Home Staging Expert.
Call me!
Kathleen, it is good to see the inventory down. Let's hope it stays down for a while.
Sounds like your doing fine up there. Have a fine weekend.
Kathleen, I'm very happy to hear the home prices are stabilizing. I keep thinking with the Spring coming so soon those areas that have already stabilized will really pick up!