Real Estate Trends In Traverse City
Our market is still going strong. Such wonderful news to see that our off water market values are up over 12% from this time last year. We have a healthy supply of inventory in most market segments.
We are starting to see some movement and improvement in our private water frontage properties and that is always a welcome trend.
Looks like we will head into the 4th quarter of 2014 strong and steady
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Weekly Market Statistics
10/20/2014 thru 10/26/2014
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121 New Listings
73 Closed Sales
262 Pending
Sales By Classification
58 Residential $25,000 to $2,000,000 Median $167,450 Mean $277,842
09 Vacant Land $13,000 to $440,000 Median $28,000 Mean 75,061
06 Commercial $80,000 to $364,298
Sales by Location
02 Antrim County
06 Benzie County
46 Grand Traverse County
11 Kalkaska County
08 Leelanau County
00 Wexford County
Expired Listings 68
Year over Year Comparison for Grand Traverse County on & off water homes
Off Water Homes All Values
Current Listings 634
Sales 10/13 to 10/14 1,102 10/12 to 10/13 1,170
Average DOM 122 or 4.1 Months
Value Direction Up 12.9%
Market Activity Down 2.4%
Inventory Supply 6.9 Months
Direct Water Homes All Values
Current Listings 185
Sales 10/13 to 10/14 174 to 10/12 to 10/13 173
Value Direction Up 1.2%%
Market Activity Even
Inventory Supply 12.8 Months
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Steady as she goes, little change over the last couple weeks. Looks like a good market as we head into the winter months. Private water activity is showing signs of improvement which is a good indicator of the market.
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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