Traverse City - Weekly Market Statistics - January 27, 2013

Weekly Market Statistics

       01/21/2013 thru 01/27/2013

92  New Listings

40  Sold Listings

218 Pending 

Sales By Classification

29 Residential $21,750 to $445,000 Median $112,900 Mean $158,493

5   Vacant Land $7,500 to $180,000 Median $46,000 Mean $76,600

6   Commercial $9 sf to $3,790 all leases

Sales by Location

05 Antrim County

05 Benzie County

20 Grand Traverse County

05 Kalkaska County

02 Leelanau County

01 Wexford County

02 Outside Areas

Expired Listings    48

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

Off Water Homes All Values 

 Current Listings        489

 Sales                         01/12 to 01/13  1011  01/11 to 01/12  794

 Average DOM            144 or 4.8 Months

 Value Direction          Up 8.1%

 Market Activity           Up 27.3% 

 Inventory Supply        5.8 Months

Direct Water Homes All Values

 Current Listings       160

 Sales                         01/12 to 01/13  181  01/11 to 01/12  129

 Average DOM           211 or 7.0 Months

         Value Direction         Up 3.9%

         Market Activity          Up 40.3%

         Inventory Supply      10.6 Months  

While actual closed sales were only 40 units last week, pending transactions continue to rise indicating good market activity for this time of year. Inventory levels for off water homes continue to contract rather significantly now down to 5.8 months in Grand Traverse County. This is somewhat deceiving as inventory levels are very tight at the low end of the market and over supplied at the very top, all in all could we be heading to a sellers market by the end of the years, it's very possible.