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Home sales improve in Austin

Austin's housing market started 2011 on a high note, as pending sales in January increased 80 percent from a year earlier to 27, according to newly released numbers from the Southeast Minnesota Association of Realtors.

Completed sales in Austin totaled 22, up 46 percent from a year earlier.

Pending sales were also up in Rochester.

"This shows an increase in buyer activity in comparison to January of last year," said Duane Sauke, SEMAR MLS president.

Active listings changed little, but new listings were down 3.8 percent.


"A continuation of this trend would be a sign of balancing the demand with the supply," Sauke said.

Ther'es hope that foreclosures will diminish in mid-2011, but long-term trends are dependent on job growth and consumer confidence.

The median sales price was down 5 percent to $78,250, and average number of days on the market was 113, down. 8.9 percent from a year ago.

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