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Greater Lakes Association of REALTORS Market Update:
With the final days of the tax-credit for first-time home buyers approaching, home sales in the Greater Lakes region are showing some signs of life. There were 236 homes sold in September, up 14.0 percent from one year ago. That's also a slight increase from August, which is quite remarkable considering that September typically means a drop-off in sales as the school year begins.

Home prices continue to decline, but this is partially a function of increased market share of non-waterfront homes, likely sparked by the federal tax credit for first-time home buyers.

Good news for sellers: the Average Days on Market Until Sale is now shrinking and the Percent of Original List Price Received at Sale is now growing.

House not selling? Listing contract expiring? Falling behind on payments?

Kathleen Lordbock
Keller Williams Realty Brainerd Lakes
REALTOR/Staging & Short Sale Specialist
218-829-4664
KLordbock@kw.com
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