Traverse City - Weekly Market Statistics - July 16, 2012

Our market was slightly slower this week but this is anticipated in our area during the 4th of July festivities. We are anticipating it picking up where it left off next week. 

Weekly Market Statistics

07/09/2012 thru 07/15/2012

205 New Listings
50 Sold Listings
266 Pending

Sales By Classification
44 Residential $17,000 to $935,000 Median $133,175 Mean $198,474
4 Vacant Land $45,000 to $215,000 Median $147,500 Mean $138,750
2 Commercial $1.14 sf lease to $600,000

Sales by Location
5 Antrim County
8 Benzie County
22 Grand Traverse County
3 Kalkaska County
7 Leelanau County
1 Wexford County
4 Outside Areas

Expired Listings 79

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

Off Water Homes All Values
Current Listings 733
Sales 07/10-07/11 788 07/11-07/12 867
Average DOM 156 or 5.2 Months
Value Direction Up 1.4%
Market Activity Up 10.0%
Inventory Supply 10.1 Months

Direct Water Homes All Values
Current Listings 267
Sales 07/10-07/11 115 07/11-76/12 159
Average DOM 224 or 7.5 Months
Value Direction Up 5.6%
Market Activity Up 38.3%
Inventory Supply 20.15 Months

It was a slow week with only 50 sales, not uncommon with the 4th of July Holiday and Cherry Festival the last 2 weeks. Market activity will likely bounce back and remain very strong at least until fall.

"There is nothing so useless as doing efficiently that which should not be done at all." Peter Drucker