By Lauren Perry
A recent housing report released by RE/MAX – reviewing the first five months of the year compared to 2012 – was the cause of worry for anyone in southeast Minnesota looking to buy or sell a home. Surveying 13 counties, the average number of homes sold saw a 19.87 percent decrease, while those that were sold enjoyed a 3.55 percent price increase. The one exception was Houston County. Showing a constant rate of homes purchased throughout the last year, and a mere 1.98 percent increase in housing prices, Houston remains one of the sturdiest counties in the region, according to RE/MAX’s most recent housing market survey.
RE/MAX agent Brian Stephan commented that a minor increase is normal in a rural area. “In my opinion, the La Crosse market is up about 20 percent while the rural areas stay pretty even. Our average sales price does not leap; a 1.98 percent increase is pretty constant.”
Caledonia realtor Laurie Peter, however, said she thinks that values are holding about the same, and our area has not seen an increase. “People do need to get off the fence, though, because the interest rates are going to start climbing and the market is going to slow.”
While other counties in the region like Waseca show as much as a 62.50 percent decrease in homes sold, local realtor Kelly Meyer says that the past year has been good for the market. “The last 6 months specifically have been very busy. The market is doing well because people are buying and selling.”
Caledonia has approximately 60 properties currently on the market and claims an average house price of $106,000, which is lower than the national median home value of $152,300. Approximately 67.56 percent of Caledonia homes are owned, while 25.22 percent are rented and 7.22 percent are vacant, according to the Edina Realty website.