The unusually cold temperatures we are experiencing this spring have not impacted home buyers in Crow Wing County. There continues to be a lack in the supply of inventory homes for sale, making it a seller’s market according to recent data released by the Greater Lakes Association of Realtors. The number of inventory homes for sale in Crow Wing County compared to last year is down 16.4 %. The number of new listings on the market for March was down 11.2% over last year.
The decreased supply of homes available is helping to raise home prices. The median price of homes rose 8.4% over last year to a new average of $155,000. The average sales price of a home in Crow Wing County was up 8.9% to $206,538.
Throughout the area served by the Greater Lakes Association of Realtors the average of new listings for the month of March compared to last year was down 24.5%, but the number of pending sales was up slightly over this time last year. This shows that buyers are still out there ready to buy but are having a hard time finding homes for sale. If you were considering listing your home for sale now would be the perfect time.