Traverse City Real Estate Market Report
We are still seeing lower than normal inventory levels in some markets
I would strongly encourage you to put your home on the market now
if you are at all thinking of selling to upsize, downsize or just looking for something different.
Don't wait until Spring when inventory levels go back up.
Call today 231-944-9906 to speak to one of our Realtors about selling your home
Be sure to ask about our "Hero Rewards" program
Significant savings for Military, Police, Fire and EMS Personnelwho are buying or selling a home
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Weekly Market Statistics
01/06/2014 thru 01/12/2014
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77 New Listings
76 Closed Sales
231 Pending
Sales By Classification
56 Residential $29,000 to $725,000 Median $173,450 Mean $197,240
17 Vacant Land $18,000 to $475,000 Median $64,900 Mean $111,576
3 Commercial $335,000 to $1,600,000
Sales by Location
06 Antrim County
07 Benzie County
38 Grand Traverse County
07 Kalkaska County
15 Leelanau County
03 Wexford County
Expired Listings 67
Year over Year Comparison for Grand Traverse County on & off water homes
Off Water Homes All Values
Current Listings 517
Sales 01/13 to 01/14 1,079 01/12 to 01/13 1,031
Average DOM 127 or 4.2 Months
Value Direction Up 10.4%
Market Activity Up 4.7%
Inventory Supply 5.7 Months
Direct Water Homes All Values
Current Listings 152
Sales 01/13 to 01/14 142 01/12 to 01/13 186
Average DOM 193 or 6.4 Months
Value Direction Up 5.4%
Market Activity Down 23.7%
Inventory Supply 12.9 Months
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A good start to a new year with 76 closed sales. Inventory levels remain tight and I would suggest sellers get their house on the market before spring while inventory levels remain low.
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
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