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Traverse City Real Estate Market Report

Weekly Market Statistics

11/26/2012 thru 12/02/2012

119 New Listings

97 Sold Listings

256 Pending

Sales By Classification

74 Residential $18,000 to $1,235,000 Median $142,750 Mean $174,953

20 Vacant Land $5,300 to $401,000 Median $36,500 Mean $63,652

3 Commercial $48,500 $192,000

Sales by Location

19 Antrim County

10 Benzie County

38 Grand Traverse County

10 Kalkaska County

15 Leelanau County

04 Wexford County

01 Outside Areas

Expired Listings 181

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

Off Water Homes All Values

Current Listings 587

Sales 12/10-12/11 822 12/11-12/12 938

Average DOM 144 or 4.8 Months

Value Direction Up 6.7%

Market Activity Up 14.1%

Inventory Supply 7.5 Months

Direct Water Homes All Values

Current Listings 189

Sales 12/10-12/11 136 12/11-12/12 169

Average DOM 209 or 7.0 Months

Value Direction Up 8.2%

Market Activity Up 24.3%

Inventory Supply 13.4 Months

Very strong week with just under 100 sales. There was also a noticeable drop in active listings. With tight inventories in some market segments and strong demand, sellers have a great opportunity this winter. Typically there is a significant decline in market activity along with a drop in inventory, we are seeing the drop in inventory, however demand has remained strong creating a bit of an opportunity for sellers.

Have a great week and enjoy the warm weather, winter is not far behind!!

Sincerely,
Robert J. Reamer

Real Estate Expert Since 1978

Certified General Appraiser

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