October 2013

Found 2 blog entries for October 2013.

Otter Tail County MLS statistics show that the sales of homes in 2012 were up 21% at the end of September over 2011 for the same period.  In 2013, however, the sales are only up 15% over 2011.  Home sales and especially lake home sales were explosive in 2012 due in part to pent up demand.  The inventory levels of homes for sale in Otter Tail County are at a 10.9 month supply compared to a 17 month supply in 2011.  The National Association of Realtors state that a 6 month supply is considered IN BALANCE.  In a rural area, however, a 6 month supply would leave a very limited selection of homes for buyers to choose from and would probably limit sales.  Right now inventories are adequate and we are still seeing multiple offers on homes that are selling.

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Otter Tail County MLS statistics show that the sales of homes in 2012 were up 24% at the end of August over 2011 for the same period.  In 2013, however, the sales are only up 14% over 2011.  Home sales, and especially lake home sales were explosive in 2012 due in part to pent up demand.  The inventory levels of homes for sale in Otter Tail County are at a 11.6 month supply compared to an 18 month supply in 2011.  The National Association of Realtors state that a 6 month supply is considered IN BALANCE .  In a rural area, however, a 6 month supply would leave a very limited selection of homes for buyers to choose from and would probably limit sales.  Right now inventories are adequate and we are still seeing multiple offers on homes that are selling. 

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