Good News for Real Estate in Otter Tail County

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 protect your interests and ensure that you make the best possible decisions, it’s important that you have a knowledgeable agent on your side who is an expert in his local real estate market. I am dedicated to keeping you on top of our local market. Rest assured that I will provide you with well-informed, trustworthy and personal guidance for your home purchase/sale in Fergus Falls Minnesota.
To reach me, call or text 218-205-6566

Or send me an email at charlie@century21vista.com
Search for the newest listings in Fergus Falls

FERGUS FALLS LISTINGS

Thinking of selling your home? Let me take over the marketing of your property. I’d love to visit with you about the Fergus Falls market and the value of your home.
charliebruehomes.com
Call or text 218-205-6568.

 

“Seeking to provide help, joy and benefit to home buying or selling.”

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