This week's report shows 265 units available through the MLS. Lower than typical, but not unexpected at this time of year. In the last 7 days there were 8 new listings on the market and 15 sold - a little more than I expected. I think there was a lot of push to get sales in for the 2015 tax season!
The 15 sales averaged $194,448 each, or $109/sq ft - right on target for Howell. Note that lakefront homes, new construction and homes on larger parcels will command a premium from this figure.
The MLS shows 11 rental units (homes and condos), but Howell has a lot of apartments that are not reflected in this number. Generally, apartment rents are much more competitive and a great way for renters to save for that home down payment. Catch the video at https://youtu.be/026Tc3B3L34.
Analysis:
Buyers - yes inventory is down, but work with a full-time real estate pro that can get you into properties quickly and you'll be successful. The lower your price range, the shorter the inventory. $200,000 and under needs quicker action than $400,000 and higher. Consult your LOCAL agent about these market dynamics.
Sellers - DO NOT WAIT FOR SPRING. Let me repeat that. DO NOT WAIT FOR SPRING. You have much lower competiton right now and buyers tend to be more motivated this time of year, too. Call me to find out about my 'Marketing Edge' program to get your home sold quickly.
image provided by Robert Smith
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