As we edge closer to the end of an amazing year rates have dipped again amidst rumors that the economy has slowed. The Northern Michigan Housing Market remains strong with 103 closed sales last week. New construction is at a record high since 2007 - a great sign that economic changes are working and more Americans are back to work.
Weekly Market Statistics
10/28/2013 thru 11/03/2013
142 New Listings
103 Closed Sales
301 Pending
Sales By Classification
67 Residential $20,000 to $1,148,700 Median $163,000 Mean $192,063
34 Vacant Land $1,500 to $495,000 Median $21,000 Mean $59,982
2 Commercial $1,750 to $1,950 Leases
Sales by Location
14 Antrim County
12 Benzie County
60 Grand Traverse County
03 Kalkaska County
10 Leelanau County
04 Wexford County
Expired Listings 140
Year over Year Comparison for Grand Traverse County on & off water homes
Off Water Homes All Values
Current Listings 634
Sales 11/12 to 11/13 1,057 10/11 to 10/12 1,018
Average DOM 125 or 4.2 Months
Value Direction Up 8.7%
Market Activity Up 3.8%
Inventory Supply 7.2 Months
Direct Water Homes All Values
Current Listings 205
Sales 11/12 to 11/13 150 10/11 to 10/12 183
Average DOM 205 or 6.8 Months
Value Direction Up 1.2%
Market Activity Down 18.0%
Inventory Supply 16.4 Months
Respectfully,
Robert J. Reamer
Real Estate Expert Since 1978
Certified General Appraiser
Phone: 231.649.0877
Fax: 231.333.5078
Email: bob@teamreamer.com
Website: www.RobertJReamer.com
Real Estate Appraisal Services, Property Tax Appeal, Real Estate Consulting