This week is much like last week. We are seeing values and activity high in waterfront properties. Values have increased 17% over this time last year. If you are thinking of a waterfront home, NOW is the time to purchase. Thank you to Bob Reamer for this weeks market report.
Weekly Market Statistics
06/11/2012 thru 06/17/2012
167 New Listings
78 Sold Listings
Sales By Classification
61 Residential $5,000 to $2,150,000 Median $139,450 Mean $199,873
12 Vacant Land $17,000 to $750,000 Median $49,950 Mean $199,858
5 Commercial $125,000 to $910,000
Sales by Location
8 Antrim County
9 Benzie County
40 Grand Traverse County
11 Kalkaska County
8 Leelanau County
1 Wexford County
1 Outside Areas
Expired Listings 72
Year over Year Comparison for Grand Traverse County on & off water homes
Off Water Homes All Values
Current Listings 747
Sales 06/10-06/11 802 06/11-06/12 845
Average DOM 158 or 5.3 Months
Value Direction Up 2.4%
Market Activity Up 5.4%
Inventory Supply 10.6 Months
Direct Water Homes All Values
Current Listings 249
Sales 06/10-06/11 114 06/11-06/12 161
Average DOM 225 or 7.5 Months
Value Direction Up 17.9%
Market Activity Up 41.2%
Inventory Supply 18.6 Months
Last week was a carbon copy of the week before, consistency is the name of the game for now. Strong buyer demand in some market segments is drying up inventory, price increases are likely to follow.
"The harder you work the luckier you get and always live below your means"
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