Gladwin, Michigan Market Update - April 2009

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Real Estate Agent with Modern Realty 6502362712

Gladwin County is located in rural Northern Michigan and is conveniently located within 3 hours of Detroit and 2-2.5 hours from Flint and Lansing making it easy to come "Up North" for the weekend.  But, we encourage you to stay longer, and after you visit this area you will want to spend much more time here!  An area that is popular for its scenic lakes (including Wixom Lake & Secord Lake), plentiful state land, quaint parks, Amish communities and down town shopping.  Gladwin County is primarily a second home/resort community.  We have real estate to accommodate every buyer from very affordable cabins to luxurious homes.  As a life long resident of Gladwin County I know the area well and I know the market even better!

                                     Listing Photo               Listing Photo           

                                                      $59,900                                          $121,900

                                          Beautiful, building lot               Adorable cottage w/ breathtaking view

                                             on Smallwood Lake                                on Wixom Lake 

The Real Estate market in this area, along with most areas of Michigan, remains challenging.  We have seen home values declining, a stagnant economy and even a lack of qualified buyers since loan approval criteria has become more restrictive.  However, if you are looking to buy your first home, or your vacation home it is a fabulous time to buy!  Interest rates are phenomenal for qualified buyers, there is a lot of inventory to choose from and homes are more affordable then they have been in years!  For home buyers who haven't owned a home in the last 3 years there is even an up to $8,000 tax credit to take advantage off.

Here is the latest market update for Gladwin and Clare County, Michigan which include the areas of Beaverton, Gladwin, Harrison, Clare, Rhodes, Bentley, Wixom Lake and Secord Lake.

The Clare/Gladwin Board of Realtors currently has 1070 homes for sale through the Multiple Listing Service (MLS) and 145 of those were new to the market in April 2009 (almost twice as much as in March reflecting the seasonal listing time of year).  The average asking price of these homes is $126,657 and the average days on market for those homes has been 312 days.

During the month of April we saw 40 Clare and Gladwin County homes sell/close.  This is down from March. The average asking price was $66,995The average sales price was $59,321 and the average days on market for these homes was 251 days.  The sellers received an average of 88.5% of their asking price.

We saw 63 homes expire from the market in April.  The main reason homes don't sell during their listing period is they were priced incorrectly for the market and/or condition of the home.  In challenging, buyers market periods it is imperative that a listing be priced as competitively as possible for its condition in order to have a chance of selling. To learn more about why homes typically expire and what you can do to avoid that fate click here.

         2205 Long Road        Listing Photo                  Listing Photo

          2205 Long, Beaverton, MI     1991 Highwood, Beaverton, MI       4256 Eagleson, Gladwin, MI

        1 Acre on Wixom Lake        10 Square Acres w/ Garage                   Custom Built in 2005

             $94,900                                    $99,900                                         $119,900

 If you're thinking about selling your home, one very important fact to know about your market is the Absorption Rate.  The Absorption Rate will tell you how long it will take for the current inventory of homes in Gladwin and Clare, MI to be absorbed by the market if no other homes come on the market.  The absorption rate for April 2009 was 1.98 YEARS!  If you want your home sold, you need to know this number to help you price your home accordingly.

 

Are you thinking about making Gladwin or Clare County, Michigan your new home?  Are you thinking about taking advantage of the great interest rates and affordable prices to buy your own slice of Northern Michigan Heaven?  Contact me today and lets gets started!  I know area very well and I know the market even better!  You can call me at 989-429-2600, email me at sonya@sonyaloose.com  or visit my website at www.BuyorSellWithSonya.com .

Posted by

Sonya Loose

Modern Realty

ModernLakeLiving.us

sonya@modernrealty.us

989-429-2600 call/text

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Sonya Loose

Selling Waterfront in Gladwin & Midland County
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