Here is the 2016 Housing Report for Traverse City. Over the last 30-days, only 210 new listings have made to the Multiple Listing Service (MLS). During the same 30-day period 329 homes were sold in Grand Traverse and Leelanau Counties. The new inventory is not keeping up with the demands of today’s home-buyers. The 2016 Housing Report for Traverse City illustrates the growing demand of buyers and the lack of sellers or new residential construction.
The 2016 Housing Report for Traverse City also shows the aggressiveness needed when putting an offer on a home – as most homes are multiple offer situations for the buyers. 25% of the homes under contract, in the last 30-days, were new listings. New listings are homes on the MLS for under 30-days. The average Days on the Market (DOM) for all other homes is 112 days.
The 2016 Housing Report for Traverse City has the average listing price at $278,000.00 for homes under contract in the last 30-days. The current trends of the Traverse City Housing Market is very good for Sellers and Buyers should be ready, able and willing to move fast on their next or new home purchase.
If you are looking to buy or sell, please do not hesitate to contact me for additional details, advice and suggestions. Veteran home-buyers, ask me about great home mortgage programs that work very well with the VA-backed home loan program. Home sellers, I am constantly looking for new properties for my buyers. To help sale your home faster, I will provide a FREE Home Warranty package. Please click here to find your next home!