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Traverse City Real Estate Market Statistics - February 10, 2014

By
Real Estate Broker/Owner with Cherry Wings Realty 6502373398

Market trends in Traverse City are about to heat up.

As we see our temperatures start to inch up, so will our activity for home buying.

With the frigid temperatures, we have seen slower than normal conditions.

NOW is the perfect time to get your home on the market.

Call today and we can have one of our Realtor meet with you to discuss your marketing plan

Be sure to ask about our "Hero Rewards Program"

 

231-944-9906

 

 

 

 

 

 

 

Weekly Market Statistics

 

       02/03/2014 thru 02/09/2014

115 New Listings

45   Closed Sales

234 Pending 

 

Sales By Classification

35  Residential $18,000 to $1,000,000  Median $175,000 Mean $267,063

08  Vacant Land $21,000 to $237,500 Median $87,025 Mean $106,006

 2   Commercial $900 Lease to $357,610

  

Sales by Location

03 Antrim County

03 Benzie County

23 Grand Traverse County

03 Kalkaska County

10 Leelanau County

03 Wexford County

 

Expired Listings   45

 

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

 

Off Water Homes All Values 

 Current Listings        487

 Sales                         02/13 to 02/14  1,087  02/12 to 01/13  1,055

 Average DOM            126 or 4.2 Months

 Value Direction          Up 10.8%

 Market Activity           Up 3.0%

 Inventory Supply        5.4 Months

 

Direct Water Homes All Values

 Current Listings       143

 Sales                        02/13 to 02/14  142  02/12 to 02/13  188

 Average DOM          187 or 6.2 Months

         Value Direction        Up 7.2%

         Market Activity         Down 24.5%

         Inventory Supply      12.1 Months  

Slow week on only 45 closed sales. The weather if finally going to warm this week and with interest rates dropping over the last 7-10 days, things will likely begin to pick up again with strong activity expected for the spring.

 

Have a great week.

 

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

Posted by

Christine Stalsonburg, Broker/Owner

Cherry Wings Realty

 

 

231-409-4140

 

 

 

 

 

 

 

 

 

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Comments (1)

Bruce Swedal
Denver, CO
Denver Real Estate

Great information and it sounds like an exciting neighborhood. Great start to the new year!

Feb 09, 2014 11:11 PM