Mortgage and Lending News

Northern Michigan Housing Slows Post Holiday - Rates Still Good

January 14th, 2013 | Versatile Mortgage LLC, 100% purchase Michigan, 10, 100% Refinance, 100% purchase, 100% mortgage, traverse city mortgage

 

 
 

 

 

Weekly Market Statistics

 

       01/07/2013 thru 01/13/2013

159 New Listings

40   Sold Listings

199 Pending 

 

Sales By Classification

31 Residential $8,500 to $465,000 Median $147,000 Mean $179,125

4   Vacant Land $59,000 to $420,000 Median $80,000 Mean $159,975

5   Commercial $5 sf (Lease) to $70,000

 

Sales by Location

05 Antrim County

04 Benzie County

20 Grand Traverse County

02 Kalkaska County

06 Leelanau County

01 Wexford County

02 Outside Areas

 

Expired Listings    66

 

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

 

Off Water Homes All Values 

 Current Listings        501

 Sales                         01/12 to 01/13  984  01/11 to 01/12  793

 Average DOM            143 or 4.8 Months

 Value Direction          Up 8.1%

 Market Activity           Up 24.1% 

 Inventory Supply        6.1 Months

 

Direct Water Homes All Values

 Current Listings       163

 Sales                         01/12 to 01/13  179  01/11 to 01/12  129

 Average DOM           213 or 7.1 Months

         Value Direction         Up 4.2%

         Market Activity          Up 38.8%

         Inventory Supply      10.9 Months  

Norhtern Michigan had a slow week with only 40 reported sales, not all that unusual just coming out of the holiday season. Over the next 6-12 weeks we should get a good idea of how the rest of the year will go, so far so good.....

 

Sincerely,
Robert J. Reamer 

Real Estate Expert Since 1978

Certified General Appraiser

 

Phone:     231.649.0877

Fax:           231.333.5078

Email:       bob@teamreamer.com

Website: www.RobertJReamer.com

 

Real Estate Appraisal Services, Property Tax Appeal, Real Estate Consulting

 
 

Randy Brown (NMLS# 179424)
Nicki Klama (NMLS# 1600896)
Christi Cronk (NMLS# 1403476)
Dave Crater (NMLS#1450363)


Versatile Mortgage LLC (NMLS# 179163)
Phone: 231-946-2202 | Fax: 231-946-5988
810 S Garfield Ave Ste A ,
Traverse City, Michigan 49686

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