2013 YEAR-END REAL ESTATE RESULTS by Alan Olson, Broker
by Admin Admin
on Tuesday, April 29th, 2014 at 12:06pm.
The sales of residential homes in Otter Tail County multiple listing service were up 8% in 2013 compared to 2012 which follows the trend of increased real estate sales in Minnesota for 2013. Lake home sales were down 8%, however, regaining strongly after being off 49% on May 1st due to the severe winter and spring - a miraculous recovery! The future looks bright for lake home sales in 2014 as demand was strong right through the fall with numerous multiple offers. Sales once again will depend on the weather but also upon the supply of property for sale. Currently there is only an 8 month supply of lake homes for sale. People thinking of selling should be listing their homes now due to lack of competing listings.
My advice for buyers and sellers entering the market.....use a professional full time real estate agent that knows not only the past comparables but one who knows the present ones.