Are you wondering how things are going in the real estate market in Central Minnesota? Things are moving and buyers are coming out of hibernation.
Despite the cold weather and heavy snow in February, buyers in the Greater Lakes region were very active during the month of February. There were 99 closed sales during the month, an increase of 23.8 percent from a year ago.
Home prices have shown early signs of stabilizing, but remain relatively soft. The February median sales price of $115,000 was a decrease from a year ago of 1.7 percent.
Soft prices have combined with extremely low mortgage rates to create an attractive environment for buyers. The Housing Affordability Index in February of 172 is an improvement of 4.7 percent from a year ago, and is up dramatically from the low point seen a few years back. This indicates favorable conditions for home buying.
Buying or selling in the Brainerd Lakes area - give me a call. You will be glad you did - I love my work and it shows.
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.
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Hi Kathleen, I think we all are coming out with this warm weather. Glad to see things are getting there for you. Good Luck.
Charles - I am so ready for warmer weather - it is supposed to rain here for the next 4 days. Our present snow will melt but we will undoubtedly get more.
24%, wow...healthy increase, Kathleen. Good sign ! Nice to see.
David - good increase but not a great number to start. Thanks!
Great!! I'm sure your saying keep it coming. Warmer weather will bring us hope. Have a good weekend!!
Lizette- I am saying- more more of everything- lisitings, buyers, warm weather!!!!
We should see an increase as ther time line for the tax incetives approaches. Let's hope it continues!