REAL ESTATE SALES REMAIN STRONG IN OTTER TAIL COUNTY, By Alan Olson, Broker
by Admin Admin
on Friday, October 5th, 2012 at 10:30am.
Sales of lakeshore property in Otter Tail County remains strong - a full 75% over 2011 at this time and 34% above the state average. Inventory of homes for sale has dropped as well. What is interesting is so far in 2012 is average lake home sales prices are down 10% while sale prices of other housing have increased 10%. County residential housing sales have increased a full 10% as well and interestingly, the sales of homes in the Fergus Falls market have increased in the higher price ranges, signifying a decrease in foreclosures and a return to a healthy market! It is a good time for both buyers and sellers because of increased sales, less inventory, stable prices and record low interest rates.
My advice for buyers and seller 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.