Market Stats for Traverse City Area - Courtesy of Robert Reamer

Weekly Market Statistics

       07/16/2012 thru 07/22/2012

       156  New Listings

        79   Sold Listings

254  Pending

Sales By Classification

66 Residential $14,900 to $780,000 Median $151,250 Mean $204,731

8   Vacant Land $7,800 to $194,800 Median $68,325 Mean $38,500

5   Commercial $13 sf lease to $205,000

Sales by Location

11 Antrim County

7   Benzie County

35 Grand Traverse County

6   Kalkaska County

14 Leelanau County

3   Wexford County

3   Outside Areas

Expired Listings      35

Year over Year Comparison for Grand Traverse County on & off water homes

Off Water Homes All Values 

 Current Listings         738

 Sales                         07/10-07/11  788  07/11-07/12  882

 Average DOM            155 or 5.2 Months

 Value Direction          Up 2.0%

 Market Activity           Up  11.9% 

 Inventory Supply        10.1 Months

Direct Water Homes All Values

 Current Listings         264

 Sales                         07/10-07/11  115  07/11-76/12  161

 Average DOM            223 or 7.4 Months

         Value Direction         Up 5.5%

         Market Activity          Up 40.0%

         Inventory Supply       19.7 Months  

The market picked back up with 79 sales last week. Inventory levels continue to contract in many market segments putting pressure on prices. With record low interest rates and soft prices over the last 5 years buyer's have an opportunity not seen for many years. 

Sincerely,

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.setpointptc.com

website:  http://www.the-team.biz/39885411/Home.aspx

Property Tax Appeal,   Real Estate Consulting,   Real Estate Appraisal Services