This
week's report shows 265 units available through the MLS. Lower than typical,
but not unexpected at this time of year. In the last 7 days there were 8
new listings on the market and 15 sold - a little more than I expected. I
think there was a lot of push to get sales in for the 2015 tax season!
The 15 sales
averaged $194,448 each, or $109/sq ft - right on target for Howell. Note
that lakefront homes, new construction and homes on larger parcels will command
a premium from this figure. Watch the market update video at:
The MLS shows 11
rental units (homes and condos), but Howell has a lot of apartments that are
not reflected in this number. Generally, apartment rents are much more
competitive and a great way for renters to save for that home down payment.
Analysis:
Buyers - yes
inventory is down, but work with a full-time real estate pro that can get you
into properties quickly and you'll be successful. The lower your price
range, the shorter the inventory. $200,000 and under needs quicker action than
$400,000 and higher. Consult your LOCAL agent about these market
dynamics.
Sellers - DO NOT
WAIT FOR SPRING. Let me repeat that. DO NOT WAIT FOR SPRING.
You have much lower competition right now and buyers tend to be more
motivated this time of year, too. Call me to find out about my 'Marketing
Edge' program to get your home sold quickly or watch my facebook page for regular real estate news, tips and updates.
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