Weekly Market Update 2/23/15 - 3/1/2015

Weekly Market Statistics

 

02/23/2015 thru 03/01/2015
Activity is on the rise in spite of the frigid weather, inventory levels remain very tight offering sellers a great opportunity to beat the spring rush of new inventory.

098  New Listings

61    Closed Sales

244  Pending 

 

Sales By Classification

48  Residential $18,000 to $1,050,000  Median $145,250  Mean $216,609

10  Vacant Land $5,700 to $360,000  Median $82,500 Mean $124,420

03  Commercial $85,000  to $146,500

 

Sales by Location

07 Antrim County

03 Benzie County

25 Grand Traverse County

06 Kalkaska County

13 Leelanau County

07 Wexford County

 

Expired Listings   36

 

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

 

Off Water Homes All Values 

 Current Listings        471

 Sales                          03/14 to 03/15  1,046 03/13 to 03/14  1,144

 Average DOM            116 or 3.9 Months

 Value Direction          Up 10.0%

 Market Activity           Statistically Even
 Inventory Supply       5.4 Months

 

Direct Water Homes All Values

 Current Listings       104

 Sales                         03/14 to 03/15 163 to 03/13 to 03/14  154

         Value Direction         Statistically Even

         Market Activity          Up 5.8% 

          Inventory Supply      7.6 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

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