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Traverse City Real Estate Market Statistics - August 12, 2013

By
Real Estate Broker/Owner with Cherry Wings Realty 6502373398

 

    Traverse City Real Estate Market is still moving in a strong direction.  Values for off water homes are up 10% over this time last year and buyers are realizing that low bidding is not the best course of action to take.

 

Thinking of selling your home?  CALL TODAY  231-944-9906

One of our Listing Specialists can help you price your home to sell for the best price in the shortest amount of time.

 

 

 

Weekly Market Statistics

 

       08/05/2013 thru 08/11/2013

164 New Listings

82  Sold Listings

293 Pending 

 

Sales By Classification

66  Residential $15,000 to $950,000 Median $177,500 Mean $215,496

13  Vacant Land $13,000 to $155,000 Median $35,000 Mean $69,030

3    Commercial $6 SF Lease to $700,000

  

Sales by Location

11 Antrim County

11 Benzie County

41 Grand Traverse County

05 Kalkaska County

11 Leelanau County

03 Wexford County

 

Expired Listings   128

 

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

 

Off Water Homes All Values 

 Current Listings        680

 Sales                         08/12 to 08/13  1,094  08/11 to 08/12  970

 Average DOM            129 or 4.3 Months

 Value Direction          Up 10.3%

 Market Activity           Up 12.8% 

 Inventory Supply        7.5 Months

 

Direct Water Homes All Values

 Current Listings       239

 Sales                        08/12 to 08/13  166 08/11 to 08/12  165

 Average DOM           205 or 6.8 Months

         Value Direction        Up 3.3%

         Market Activity          Even

         Inventory Supply      17.3 Months  

Steady activity with 82 closed sales. I sense some tentative anxiety in the market with the Middle East in chaos and uncertainty in the upcoming health care bill, watching the NMC college millage loose 2:1 demonstrates the financial anxiety in my opinion. If you have property to sell I believe now is the best opportunity you will have over the near future. Buyer demand is strong in most market segments and values are holding or modestly increasing in some market segments. 

 

Respectfully,

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.RobertJReamer.com

 

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

Posted by

Christine Stalsonburg, Broker/Owner

Cherry Wings Realty

 

 

231-409-4140

 

 

 

 

 

 

 

 

 

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