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
|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.
|Median Sales Price||$130,000||$135,450||+4.2%|
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.
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.
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