FALL REAL ESTATE SALS BEST, by Alan W. Olson, Broker

Posted by Admin Admin on Monday, September 22nd, 2014 at 10:53am.

Over 50% of sales of Otter Tail County homes occur in the last 5 months of the year.  That defies regular logic but it is a fact.  For lake homes, it is  higher at 62%.  As of now, it appears that real estate sales in Otter Tail County will set another record in 2014 as sales are up 20% this year over lastyear.  Inventory of homes available to purchase is very low as well.  As an example, the availability of homes in Fergus Falls is down to about a 3 month supply.  The National Association of Realtors say a 6 month supply is “in balance”.  The result is that right now is the best time to list and sell your real estate.  It is also a good time to purchase as this tight market will cause an increase in purchase prices. 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.

 

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