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Traverse City Real Estate Market Statistics - July 28, 2014

By
Real Estate Broker/Owner with Cherry Wings Realty 6502373398

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

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  

 

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

Posted by

Christine Stalsonburg, Broker/Owner

Cherry Wings Realty

 

 

231-409-4140

 

 

 

 

 

 

 

 

 

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