Gladwin, Michigan Market Update - November 2008

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Real Estate Agent with Modern Realty 6502362712

                        Listing photo 6         Listing photo 3

                         All Sports Wixom Lake                      Beautiful Wooded Land

Gladwin County is located in rural Northern Michigan and is conveniently located within 3 hours of Detroit and 2-2.5 hours from Flint and Lansing making it easy to come "Up North" for the weekend.  But, we encourage you to stay longer, and after you visit this area you will want to spend much more time here!  An area that has become popular for a scenic lakes (including Wixom Lake & Secord Lake), plentiful state land, quaint parks, Amish communities and down town shopping, Gladwin County is primarily a second home/resort community.  We have real estate to accommodate every buyer from very affordable cabins to luxurious homes.  As a life long resident of Gladwin County I know the area well and I know the market even better!

The Real Estate market in this area, along with most areas of Michigan, has been challenging this year.  We have seen home values declining, a stagnant economy and even a lack of qualified buyers since loan approval criteria has recently tightened.  However, if you are looking to buy your first home, or your vacation home it is a fabulous time to buy!  Interest rates are phenomenal for qualified buyers, there is a lot of inventory to choose from and homes are more affordable then they have been in years!

Here is the latest market update for Gladwin and Clare County, Michigan which include the areas of Beaverton, Gladwin, Harrison, Clare, Rhodes, Bentley, Wixom Lake and Secord Lake.

The Clare/Gladwin Board of Realtors currently has 1,097 homes for salethrough the Multiple Listing Service (MLS) and 55 of those were new to the market in November 2008The average asking price of these homes is $122,427 and the average days on market for those homes has been 299 days 

During the month of November we saw 32 Clare and Gladwin County homes sell/closeThe average asking price was $68,784The average sales price was $61,106 and the average days on market for these homes was 229 days.  The sellers received an average of 88.8% of their asking price.

We saw homes 113 expire from the market in November.  The main reason homes don't sell during their listing period is they were priced incorrectly for the market and/or condition of the home.  In challenging, buyers market periods it is imperative that a listing be priced as competitively as possible for its condition in order to have a chance of selling. 

        Listing photo 1        Listing photo 1       Listing photo 1

        559 Quillette, Beaverton, MI         6530 N. Shore, Gladwin, MI      4445 Wixom, Beaverton, MI

        On Wixom Lake, $890,000           Elk Lake Access, $69,900        2.66 Acres +2 Garages, $134,900

 

If you're thinking about selling your home, one very important fact to know about your market is the Absorption Rate.  The Absorption Rate will tell you how long it will take for the current inventory of homes in Gladwin and Clare, MI to be absorbed by the market if no other homes come on the market.  The absorption rate for November 2008 was 2.8 YEARS!  If you want your home sold, you need to know this number to help you price your home accordingly.

 

Are you thinking about making Gladwin or Clare County, Michigan your new home?  Are you thinking about taking advantage of the great interest rates and affordable prices to buy your own slice of Northern Michigan Heaven?  Contact me today and lets gets started!  I know area very well and I know the market even better!  You can call me at 989-429-2600, email me at sonya@sonyaloose.com  or visit my website at www.BuyorSellWithSonya.com .

Posted by

Sonya Loose

Modern Realty

ModernLakeLiving.us

sonya@modernrealty.us

989-429-2600 call/text

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Rainmaker
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Eileen Begley
Coldwell Banker, DelMonte - Carmel, CA
Monterey Real Estate

Sonya; You have some lovely homes there. Almost makes me want to pack up and relocate - with those prices. But unfortunately I understand you have something there I am not used to called "weather"!

Dec 23, 2008 03:12 AM #1
Rainmaker
567,907
Sonya Loose
Modern Realty - Beaverton, MI
Selling Waterfront in Gladwin & Midland County

Eileen, we do have some great places for an affordable price!  We definately do have the seasons here and while I long for warmer weather sometimes I really do love it here.  It is a great place to live, work and play!  Merry Christmas to you and your family!

Dec 24, 2008 09:51 AM #2
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Rainmaker
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Sonya Loose

Selling Waterfront in Gladwin & Midland County
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