Our Lake Region Multiple Listing Service just released the real estate stats for 2017 and they were good. Our region which encompasses most of Otter Tail County saw improvement in almost every category over 2016.
LAKE REGION MLS AREA
| 2016 | 2017 | Percent Change | |
| New Listings | 1405 | 1770 | +26% |
| Closed Sales | 948 | 1176 | +24.1% |
| Days on Market | 103 | 87 | -15.5% |
| Median Sales Price | $142,500 | $162,000 | +13.7% |
| Pct. of Orig. Price Received | 93% | 94.2% | +1.3% |
The stats above include residential homes from city, rural and lakeshore.
FERGUS FALLS
| 2016 | 2017 | Percent Change | |
| New Listings | 390 | 338 | -13.3% |
| Closed Sales | 310 | 309 | -0.3% |
| Median Sales Price | $130,000 | $135,450 | +4.2% |
| Months Supply | 3.4 | 2.0 | -43.3% |
These numbers show that in Fergus Falls there were fewer new listings, yet just as many sales. Buyers were out there purchasing homes even in the tight market. A two-months supply of inventory is very low.
Bottom Line
If you are thinking of selling, now may be the time. Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price.
Source: Data pulled January 7, 2018 from the Lake Region Association of REALTORS Multiple Listing Service.
To reach me, call or text 218-205-6566 Or send me an email at charlie@century21vista.com
FERGUS FALLS LISTINGS
charliebruehomes.com
Call or text 218-205-6568.
“Seeking to provide help, joy and benefit to home buying or selling.”