May 2014

Found 1 blog entry for May 2014.

Otter Tail County real estate sales are up this year 17% over 2013. Weather affects sales but during this year's cold, snowy and windy winter, sales are up over 2013's cold snowy and windy winter. Housing sales are about the same so the increases came in multifamily, farms, land and commercial sales.

A key factor that affects real estate sales is the quantitiy of homes for sale which in Otter Tail County is currently down 20.6% from 2013 to a 7.7 month supply. That factor generally leads to a seller's market which can lead to higher sale prices.

To avoid those higher prices that are likely coming, buyers should purchase now. Sellers should get their property listed for sale now while demand is strong and upward price pressure seems imminent due to

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