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Traverse City Real Estate Market Statistics - May 19, 2014

By Cherry Wings Realty

Real Estate Broker/Owner with Cherry Wings Realty 6502373398

May 18, 2014 09:01 PM

Traverse City Real Estate Market Trends

Our real estate market is still going strong at Cherry Wings Realty.

Values are up over 11% from this time last year and we are seeing multiple offers on some properties. It's a great time to sell your home.

Buyers Advice ~ Make sure you are pre-approved for your loan and ready to jump on a home when you find one that fits your needs. The days of low ball offers is over. Come to the table with a strong offer - your best offer, if you really want the home.

Call TODAY to speak to one of our real estate experts 231-944-9906

Be sure to ask about our Hero Rewards Program

Weekly Market Statistics

05/12/2014 thru 05/18/2014

292 New Listings

62 Closed Sales

292 Pending

Sales By Classification

50 Residential $27,900 to $975,000 Median $213,500 Mean $251,308

8 Vacant Land $27,000 to $250,000 Median $82,000 Mean $102,612

45 Commercial $6,650 Lease to $527,000

Sales by Location

05 Antrim County

02 Benzie County

43 Grand Traverse County

03 Kalkaska County

07 Leelanau County

02 Wexford County

Expired Listings 54

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

Off Water Homes All Values

Current Listings

Sales 05/13 to 05/14 1,102 05/12 to 05/13 1,143

Average DOM 124 or 4.1 Months

Value Direction Up 11.0%

Market Activity Down 3.5%

Inventory Supply 6.4 Months

Direct Water Homes All Values

Current Listings 176

Sales 05/13 to 05/14 154 05/12 to 05/13 180

Average DOM 183 or 6.1 Months

Value Direction Up 7.4%

Market Activity Down 14.4%

Inventory Supply 13.7 Months

Sales were consistent with the last couple weeks while pending transactions bumped up indicating rising activity. Hard to believe this weekend is Memorial Day Weekend but it is. Have a great week and enjoy your holiday weekend.

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