Real Estate Market Conditions for January 2010, Gladwin, Michigan

Reblogger Cherry Wings Realty
Real Estate Broker/Owner with Cherry Wings Realty 6502373398

Original content by Sonya Loose 6502362712

Real Estate Market Conditions for January 2010.

Real Estate Market Update

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

The real estate market conditions in Gladwin, Michigan along with most ares of Michigan, remains challenging but appear to be improving and stabilizing!  A stagnant economy and a lack of qualified buyers remains.  However, if you are interested in buying your first home or your vacation home, it is a fabulous time to buy!  Interest rates are low for qualified buyers, there is a lot of inventory to choose from and homes are more affordable then they have been in years!  The Federal Government is also offering tax credits for qualified home buyers until April 30, 2010.  For specific information on who qualifies for these tax credits of of up $8,000 visit the Hot Topics tab on my website.

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

Real Estate Market Conditions

This is the off-season for real estate in this area, as our selling season is typically from April-Novembr.  The Clare/Gladwin Board of Realtors currently has 831 homes for sale through the Multiple Listing Service (MLS) and 80 of those were new to the market in January 2010.  The number of new listings is up by about 40 homes from December.  This reflects the new year and new real estate market, although it is still officially off season.  The average asking price of the homes currently on the market is $121,152 and the average days on market for those homes has been 352 days.  These stats are only slightly different than the last 7 months clarifying my theory that the Gladwin, Michigan real estate market conditions are stable!

During the month of Janurary we saw 21 homes sell/close in Gladwin, Michigan.  This is 13 less than December but is down by about 30 sales from the busier summer months.  The average asking price was $60,290. The average sales price was $52,977 and the average days on market for these homes was 168 days.  The sellers received an average of 87.8% of their asking price.

49 homes expired from the market in January in Gladwin.  The main reason homes don't sell during their listing period is that they were priced incorrectly for the real estate market conditions and or condition of the home.  In any market periods it is imperative that a listing be priced as competitively as possible for its condition in order to have the best chance of selling. To learn more about why homes epxire from the market visit this link to a page on my website.

If you're thinking about selling your Gladwin area home one very important fact to know about your real estate market conditions is the absorption rate.  The absorption rate will tell you how long it will take for the current inventory of homes in Gladwin, Michigan to be absorped by the market if no other homes come on the market.  The absorption rate for Januray 2010 is 3.3 years!  This number has increased by over a year reflecting the off season real estate market.  If you want your Gladwin, Michigan area home sold you need to know this number to help you price your home accordingly.

Are you thinking about making Gladwin County, Michigan your new home? Gladwin County is home to both Wixom Lake and Secord Lake! 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.

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