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Traverse City Real Estate - Weekly Market Report - August26, 2013

By
Real Estate Broker/Owner with Cherry Wings Realty 6502373398

 Traverse City Real Estate Market continues to change in many areas. 

Home values are up and in high demand in certain price points and locations. 

Thinking about buying or selling? 

Call today and speak to one of our Speacilists about the market your needs.

 

 

Weekly Market Statistics

 

       08/19/2013 thru 08/25/2013

162 New Listings

87  Sold Listings

296 Pending 

 

Sales By Classification

60  Residential $1,150 (Lease)  to $905,000 Median $161,750 Mean $183,023

21  Vacant Land $3,500 to $905,000 Median $82,000 Mean $122,000

6    Commercial $8 SF Lease to $121,000

  

Sales by Location

13 Antrim County

08 Benzie County

31 Grand Traverse County

13 Kalkaska County

19 Leelanau County

03 Wexford County

 

Expired Listings   71

 

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

 

Off Water Homes All Values 

 Current Listings        685

 Sales                         08/12 to 08/13  1,131  08/11 to 08/12  971

 Average DOM            128 or 4.3 Months

 Value Direction          Up 9.3%

 Market Activity           Up 16.5% 

 Inventory Supply        7.3 Months

 

Direct Water Homes All Values

 Current Listings       241

 Sales                        08/12 to 08/13  174 08/11 to 08/12  165

 Average DOM           204 or 6.8 Months

         Value Direction        Up 4.4%

         Market Activity          Up 5.4%

         Inventory Supply      16.6 Months  

Steady activity on contracting inventory is putting upward price pressure in the market. It seems market demand is all over the board. In town TC is very high demand, under $200,000 is very high demand, the higher the price and further from TC the weaker the market gets. Homes over 15 miles to TC and homes over $1,000,000 are significantly over supplied with very weak markets, although improving from conditions a year ago. Price point is everything, if you need help with problem properties please give me a call and I will be glad to assist you.

 

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

 

Posted by

Christine Stalsonburg, Broker/Owner

Cherry Wings Realty

 

 

231-409-4140

 

 

 

 

 

 

 

 

 

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Comments (1)

Sharon & Bruce Walter
Keller Williams Realty Lafayette, IN - Lafayette, IN
West Lafayette homes for sale

Christine,

What a difference a year makes in regard to your DAYS ON MARKET and number of homes sold from the 2011-12 is quite a contrast to current numbers.  You live in such a beautiful area!

Aug 25, 2013 10:27 PM