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Traverse City Real Estate Market Statistics - September 8, 2014

By
Real Estate Broker/Owner with Cherry Wings Realty 6502373398

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Weekly Market Statistics

 

       09/01/2014 thru 09/07/2014

139 New Listings

97  Closed Sales

271 Pending 

 

Sales By Classification

79  Residential $24,500 to $981,700  Median $168,000 Mean $210,885

15   Vacant Land $8,800 to $128,280 Median $45,000 Mean $128,280

3     Commercial $150,000 to $850,000

 

Sales by Location

08 Antrim County

09 Benzie County

40 Grand Traverse County

14 Kalkaska County

24 Leelanau County

02 Wexford County

 

Expired Listings   91

 

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

 

Off Water Homes All Values 

 Current Listings        660

 Sales                          09/13 to 09/14  1,059  09/12 to 09/13  1,166

 Average DOM            121 or 4.1 Months

 Value Direction          Up 12.3%

 Market Activity           Statistically Even

 Inventory Supply       7.5 Months

 

Direct Water Homes All Values

 Current Listings       212

 Sales                         09/13 to 9/14 155 to 09/12 to 9/13  186

         Value Direction         Up 1.5%

         Market Activity          Down 16.6%     

          Inventory Supply      16.4 Months  

 

Activity drops along with pending sales, while inventory levels rise modestly.  I sense some anxiety in the market but not sure why or how deep. I still believe we will see a strong fall market with a good opportunity for sellers to move inventory. Interest rates are near a 12 month low with inventory levels still somewhat tight which means opportunity for sellers, however properties must be priced right and show well as the window is short.

 

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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