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Traverse City - Weekly Market Statistics - May 6, 2012

By
Real Estate Broker/Owner with Cherry Wings Realty 6502373398
 
 
 

 

 

Weekly Market Statistics

 

       04/30/2012 thru 05/06/2012

       280  New Listings

96   Sold Listings

 

Sales By Classification

82 Residential $35,900 to $1,145,000 Median $146,000 Mean $194,023

8   Vacant Land $14,500 to $347,900 Median $56,500 Mean $97,300

6   Commercial $4 SF Lease to $230,000

 

Sales by Location

10 Antrim County

11 Benzie County

58 Grand Traverse County

5   Kalkaska County

10 Leelanau County

1  Wexford County

1   Outside Areas

 

Expired Listings       122

 

Year over Year Comparison for Grand Traverse County on & off water homes

 

Off Water Homes All Values 

 Current Listings         698

 Sales                         05/10-05/11  794  05/11-05/12  797

 Average DOM            158 or 5.3 Months

 Value Direction          Up 3.1%

 Market Activity           Up 1.0% 

 Inventory Supply       10.5 Months

 

Direct Water Homes All Values

 Current Listings         225

 Sales                         5/10-05/11  110  05/11-05/12  114

 Average DOM            223 or 7.4 Months

         Value Direction         Up 14.8%

         Market Activity          Up 33.6%

         Inventory Supply      18.4 Months  

 

Lasts week was clearly a turning point in the market with a significant rally and several strong indicators of a change in market conditions. First there were just under 100 closed sales last week, the most in several years, prices moved strongly up in both market segments indicating we could see a significant rise in values if the trend continues and inventory levels are contracting. The bottom line, as anticipated the market is taking off and if buyer's have been on the fence, now is clearly the time to get off as the train is picking up speed.

 

"The most important thing in communication is to hear what isn't being said" Peter Drucker via John Maxwell

 

Sincerely,
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.setpointptc.com

website:  http://www.the-team.biz/39885411/Home.aspx

 

Property Tax Appeal,   Real Estate Consulting,   Real Estate Appraisal Services

 
 

Posted by

Christine Stalsonburg, Broker/Owner

Cherry Wings Realty

 

 

231-409-4140

 

 

 

 

 

 

 

 

 

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