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Traverse City Real Estate Market Improves

More Positive News for the Traverse City Area - Traverse City homes sales +8.71% from 2009!!!

Despite all the gloom and doom we all still hear from the media Traverse City home sales are on the rise and expected to continue to do so.  From January 1st - May 30th 2010 Traverse single family home sales rose by 8.71% with 442 homes sold in Grand Traverse County as opposed to only 319 for the same period in 2009.  The average sales price has also increased by +$10,581.......2009 avg. sales price for this time period was $163,370 and in 2010 $173,951.

Inventory has remained stable with only 19 more homes on the market now in Grand Traverse County than this time in 2009 however the % of expired home listing has reduced by 7.92%.

Great news for our local market and economy , good news for sellers and for buyers out there on the fence or thinking " we will wait a bit longer and see if prices go down more" don't wait!    Prices are already on the rise, interest rates are outstanding ( I have seen 30 yr. fixed numbers as low as 4.85%) in the past couple of weeks. 

2009 Traverse City Real Estate Statistics: 

ClassBedroomsCurrent ActiveAvg List PriceAvg DOM
AllAll1,861$299,870205
SFAll1,861$299,870205
ClassBedroomsTotal ListedNum SoldPct SoldAvg List Price SoldAvg Sale Price SoldSale Price/List Price RatioAvg DOM SoldAvg List Price UnsoldPct Expired
AllAll1,34131923.79%$174,884$163,37093.42%180$281,79129.83%
SFAll1,34131923.79%$174,884$163,37093.42%180$281,79129.83%

 

2010 Traverse City Real Estate Statistics:

ClassBedroomsCurrent ActiveAvg List PriceAvg DOM
AllAll1,861$299,870205
SFAll1,861$299,870205
ClassBedroomsTotal ListedNum SoldPct SoldAvg List Price SoldAvg Sale Price SoldSale Price/List Price RatioAvg DOM SoldAvg List Price UnsoldPct Expired
AllAll1,36044232.50%$185,914$173,95193.57%179$258,45221.91%
SFAll1,36044232.50%$185,914$173,95193.57%179$258,45221.91%

 

Considering Buying or Selling  Traverse City Real Estate?  Contact:

Jon Becker - Century 21 Northland

ABR, SFR, Green, Quality Service Award, Relocation & USAA Movers Certified

231-342-5401

jon@c21jb.com

www.c21jb.com   for all Traverse City Real Estate Listings and information

 

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