2015 is the year to buy or sell a home in Crow Wing County. January started off with mortgage rates hitting a 20-month low, as 30-year fixed-rate loans dropped to 3.73%.
For the month of December the number of new home listings on the market dropped by 35.4% down from 82 new listings at this time same period of time last year to 53 new listings in December of 2014. The good news is for the month of December pending home sales, which are a strong indicator of future closed sales, increased by 31.8 % year-over-year. Last month the number of closed sales increased by 3.7% compared to this same period of time last year.
Homes are continuing to sell at a faster pace with the median days on the market dropping. For the month of December the median days on the market was 94 down from 107 in 2013, and down from 149 in 2012.
The housing marketing Crow Wing County ended 2014 on a positive note. 2015 has started with mortgage interest rates decreasing to nearly a two year low making owning a home in Crow Wing County even more affordable. If you are looking to buy or sell a home in 2015, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.