Gladwin, Michigan June 2009 Real Estate Market Update

By
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!

                                                             5328 Winchester Way, Gladwin, Michigan                                                 

                                                                                  $44,900                               

                                                                             Sugar Springs!           

                                                            5328 Winchester Way, Gladwin, MI  48624                     

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 of.

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

The Clare/Gladwin Board of Realtors currently has 1,188 homes for sale through the Multiple Listing Service (MLS) and 145 of those were new to the market in June 2009.  The average asking price of the homes currently on the market is $128,784 and the average days on market for those homes has been 288 days.  These stats are virtually unchanged from May's figures.

During the month of June we saw 44 Clare and Gladwin County homes sell/close.  This is up 6 sales from May. The average asking price was $57,695The average sales price was $52,184 and the average days on market for these homes was 254 days.  The sellers received an average of 90% of their asking price.

We saw 64 homes expire from the market in June.  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.

                                                           4181 Oak, Beaverton, Michigan on Wixom Lake

 

                                                                           $193,000

                                                             4181 Oak, Beaverton, Michigan

                                                                     On Wixom Lake

Own one of the best homes on Wixom Lake! This 1300 sq ft 3 BR, 1 BA home or cottage is tastefully decorated and the soft beach colors, knotty pine and log enhance the feeling of being at the lake. Updated kitchen and bath, spacious living room with doorwall leading to large deck overlooking the lake. Exceptional lot with 104' of water front on all sports Wixom Lake. Steel seawall, boardwalk at waters edge, sandy beach area and good swimming. Deep lot is over 420' and is nicely shaded and offers an extra large pole barn, garage that is currently used as finished guest quarters, paver patio area, firepit, ashphalt and concrete driveway too. This listing will not disappoint and is loaded with valuable features.

 

 If you're thinking about selling your home, one very important fact to know about your real estate 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 June 2009 was 2.25 YEARS!  If you want your Gladwin area 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 the 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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