Traverse City Real Estate Market Report
We are starting to see off water homes sit on the market a bit longer in some segments.
Currently, we have a 4 month supply of homes
What does this mean to you as a seller - it means that you home could take 4 months to sell.
Good news - prices are up as well over this time last year
We have an over abundance of direct water homes with a 15 month inventory
Selling your waterfront home could take over a year, depending on location - condition & price
Thinking of buying or selling a home?
Call us today to schedule a FREE consultation and Pin-Point Market Analysis of your home
231-944-9906
Be sure to ask about our Hero Reward Program
www.CherryWingsRealtyTC.com
Weekly Market Statistics
07/21/2014 thru 07/27/2014
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249 New Listings
79 Closed Sales
301 Pending
Sales By Classification
66 Residential $49,000 to $795,000 Median $160,950 Mean $223,284
13 Vacant Land $27,000 to $825,000 Median $155,000 Mean $207,107
0 Commercial
Sales by Location
07 Antrim County
13 Benzie County
39 Grand Traverse County
05 Kalkaska County
13 Leelanau County
02 Wexford County
Expired Listings 30
Year over Year Comparison for Grand Traverse County on & off water homes
Off Water Homes All Values
Current Listings 664
Sales 07/13 to 07/14 1,111 07/12 to 07/13 1,160
Average DOM 121 or 4.0 Months
Value Direction Up 10.4%
Market Activity Down 4.2%
Inventory Supply 7.2 Months
Direct Water Homes All Values
Current Listings 212
Sales 07/13 to 7/14 166 to 07/12 to 7/13 173
Value Direction Up 5.7%
Market Activity Down 4.0%
Inventory Supply 15.3 Months
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Steady, no surprises in activity levels this 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
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