Traverse City Real Estate Market Statistics - March 3, 2014

Weekly Market Statistics

       02/24/2014 thru 03/02/2014

89   New Listings

57   Closed Sales

225 Pending 

Sales By Classification

43  Residential $27,500 to $842,500  Median $171,900 Mean $201,343

 9   Vacant Land $4,000 to $355,000 Median $26,500 Mean $87,044

 5   Commercial $195 lease to $450,000

Sales by Location

10 Antrim County

08 Benzie County

25 Grand Traverse County

06 Kalkaska County

07 Leelanau County

01 Wexford County

Expired Listings   32

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

Off Water Homes All Values 

 Current Listings        487

 Sales                         03/13 to 03/14  1,058  03/12 to 03/13  1,087

 Average DOM            125 or 4.2 Months

 Value Direction          Up 10.0%

 Market Activity           Even

 Inventory Supply        5.5 Months

Direct Water Homes All Values

 Current Listings       141

 Sales                        03/13 to 03/14  140  03/12 to 03/13  185

 Average DOM          187 or 6.2 Months

         Value Direction        Up 9.8%

         Market Activity         Down 24.3%

         Inventory Supply      12.08 Months  

Market activity increased modestly while inventory levels also rose modestly from last week. Year over year activity is beginning to stall, it's difficult to tell how much the weather has to do with declining activity or if there are other economic factors at play. We will know soon as the weather is beginning to break. Daylight savings time starts this week and spring is just around the corner, really it is. Have a great week and don't forget to call or email me with all of your value questions.

Respectfully,

Robert J. Reamer 

Real Estate Expert Since 1978

Certified General Appraiser

Phone:     231.649.0877231.649.0877

Fax:           231.333.5078

Email:       bob@teamreamer.com

Website: www.RobertJReamer.com

Real Estate Appraisal Services