Weekly Market Update 02/16/2015 thru 02/22/2015

Weekly Market Statistics


02/16/2015 thru 02/22/2015

149  New Listings

44    Closed Sales

234  Pending 


Sales By Classification

35  Residential $23,000 to $721,500  Median $155,000  Mean $216,841

06  Vacant Land $1,300 to $106,000  Median $54,550 Mean $52,483

03  Commercial $1,300 Lease  to $52,483


Sales by Location

06 Antrim County

03 Benzie County

23 Grand Traverse County

06 Kalkaska County

03 Leelanau County

03 Wexford County


Expired Listings   56


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


Off Water Homes All Values 

 Current Listings        472

 Sales                          02/14 to 02/15  1,082 02/13 to 02/14  1,135

 Average DOM            119 or 3.9 Months

 Value Direction          Up 11.3%

 Market Activity           Statistically Even
 Inventory Supply       5.2 Months


Direct Water Homes All Values

 Current Listings       109

 Sales                         02/14 to 02/15 174 to 02/13 to 02/14  151

         Value Direction         Down 2.5%

         Market Activity          Up 15.2% 

          Inventory Supply      7.5 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.

Activity slows with the cold weather. It's hard to believe we are in the last week of February already. The weather will soon moderate and I look for a very busy spring.

 H/T Robert J. Reamer, Certified General Appraiser

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