Demand for Real Estate Strong, By Alan Olson, Broker
by Admin Admin
on Wednesday, February 25th, 2015 at 4:25pm.
The Otter Tail County real estate market is heating up! Newly listed property is selling in a matter of days which shows that there is a lack of homes for sale. In fact, in the $200,000 to $300,000 price range, there is only a 3 month supply. Lake lot sales were up 90% in 2014 which indicates consumer confidence. People purchase lake lots with the intent of building a home in the future and those sales have been very slow previous to 2014. There is also a lack of inventory of lake homes in the $250,000 to $400,000 range as well. It is, therefore, a very good time to sell.
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 and the trends.