Recap for 2009 Real Estate in Owatonna Minnesota

What’s the Real Estate Buzz in Owatonna?

Sales during October and November picked up and we finished year with an increase in sales (by 28 homes) over 2008. It seems that the first time buyer stimulus plan has been working. We’ve seen a strong presence of those buyers in our market and that helps everyone.

We predicted that first time home buyers would be the mainstay of the 2009 market, along with buyers relocating into Owatonna for their jobs, and it appears to have panned out that way. One of my lending experts, Brenda Bednar (through Advisor’s Mortgage) noted that she is taking applications from those two buyer niches. Property issues are becoming more of a challenge with the increase in foreclosed properties, many of which have deferred maintenance issues to contend with. If you have any financing questions you can contact Brenda at 507-455-1858. Her expertise will get you moving in the right direction.

According to the Southeast Minnesota Association of Realtors MLS our year to date activity is showing 321 closed residential listings in Owatonna for 2009. The average sale price of the sold properties is $143,424 which is down from 2008 when the average sale price for the year was $159,120. I believe this trend is due to an increase in bank owned properties and the influx of first time buyers. Our average market time was 117 days which is actually down from 130 in 2008. The market has changed, in particular housing prices.

At the start of the year we have 198 active residential listings with an average list price of $176,880. They’ve been on the market for an average of 185 days which has been increasing.

Interest rates continue to hover near their lows, and the tax credit provides a strong incentive for first time and repeat buyers to make the most of the values that are out there in our local market.

Market cycles affecting housing come and go, just like all segments of the economy. Right now may seem like a challenging market, but it’s also a market of opportunity. Investors and first time home buyers will be the obvious winners, but existing homeowners can profit, too. If you’re looking to move up into a larger home – it’s a great time to make that move. The inventory and prices of move up homes have never been more plentiful and attractive. Call or e-mail me today to learn about how this market can be beneficial for you. It’s time to get moving.

Warning - if you don't like snow you may be offended by my photos - but this year we have plenty of it. I want to show off my community. We've been fortunate to raise our family, make lasting friendships, grow a business, and have fun all while living in Owatonna, Minnesota. Owatonna is a community of 24,000 about 50 miles south on I-35 from the Minneapolis-St. Paul metro area. We are also 45 minutes west of the famed Mayo Clinic in Rochester, Minnesota.

Here are a few of the photos I have taken around town recently -

This photo was taken at Dartt's park. One of our walking trails goes right through the park. There are ball diamonds, tennis courts, picnic pavilions, volleyball courts, basketball hoops, and playground equipment for everyone's enjoyment.



This is the fountain in Central Park. In the summer kids will dip their toes and grown-ups will toss coins for good luck.

This is a photo of the Central Park band shell. It was recreated to have the same look as the original bandshell. It's a great place to enjoy summer concerts and other community activities.

This imposing building is our city administration building. It also houses the Owatonna Arts Center. This building used to serve as a State School (Orphanage). Children whose families could no longer care for them would be brought in by train from all over Minnesota. There is an orphnage museum on site that provides a wonderful sense of history for the community.


This photo shows off the exterior grounds of the Owatonna Arts Center. It's a wonderful facility that offers a great venue for gatherings and parties. We hosted our Christmas party here for the agents from all three of our offices. In addition they offer classes and showcase art and local talents from area artists.


This view shows the entrance to the trails of Kaplan's Woods. I've spent a lot of time hiking through woods this year. There are plenty of hills, creeks, wildlife for every nature enthusiast to enjoy. Get off the couch and have fun in the winter!

This photo shows off the Lake Kohlmeyer fishing pier. The geese have found the open water and are ready for spring. People fish off the pier most of the year. I always love riding my bike on the trailsnearby in the summer and I get to watch the love of fishing being shared between grandparents, parents, and kids. Families love it. Ther's also a swimming beach and playground. You can even rent canoes and paddle boats here. We had a summer fun day and ran an obstacle course here once with our agents.

As you can see we have a variety of wonderful attractions that can be enjoyed throughout the year - hey don't forget we also have Cabela's about 2 miles north on I-35. Stop in and visit - anytime!