Market Update 3/9 - 3/15/15

Weekly Market Statistics

03/09/2015 thru 03/15/2015

Steady, closed sales are up slightly while inventory levels grew modestly.
127  New Listings
57    Closed Sales
240  Pending 
Sales By Classification
47  Residential $22,000 to $1,480,000  Median $150,000  Mean $228,913
07  Vacant Land $5,000 to $135,000  Median $35,000 Mean $44,428
03  Commercial $540 Lease  to $450,000
Sales by Location
10 Antrim County
09 Benzie County
31 Grand Traverse County
08 Kalkaska County
09 Leelanau County
04 Wexford County
Expired Listings   59
Year over Year Comparison for Grand Traverse County on & off water homes
Off Water Homes All Values 
 Current Listings        476
 Sales                          03/14 to 03/15  1,077 03/13 to 03/14  1,144
 Average DOM            117 or 3.9 Months
 Value Direction          Up 9.8%
 Market Activity           Statistically Even
 Inventory Supply       5.3 Months
Direct Water Homes All Values
 Current Listings       107
 Sales                         03/14 to 03/15 167 to 03/13 to 03/14  154
         Value Direction         Down 1.0%
         Market Activity          Up 8.4% 
          Inventory Supply      7.7 Months  
The value direction and activity indicated above are taken from sales in Grand Traverse County using a 24 month comparison of the last year vs the 12 months prior. Value directions are for the entire county all value ranges and should only be used to identify trends and never used to apply an increase or decrease in market value for a specific property. The trend can be significantly influenced by more sales at the upper end of the value range or REO sales at the lower end of the value spectrum. To determine price changes for a specific property a much more detailed data search specific to that market segment should be completed.
H/T Robert J. Reamer, Certified General Appraiser 

There are no comments

Thank you! Your comment has been submitted and is awaiting approval.

Contact Me