Our
active inventory is just 214 units. We are still waiting for the nice
weather listing mindset to happen, but that can be a mistake if you're a
seller. There is less competition and a lot of pent up buyer demand out
there right now. Homes are selling quickly.
In
the last week there were 25 new listings, but that's not enough. With
solds, expired, and pending sales, we're at a deficit.
11
homes sold in the last 7 days and because 3 were in the higher price ranges, our
stats this week are skewed upwards. The average sales price was $283,055
and the price per square foot shot up to $142 (typically in the
$100-$125/square foot range). These 11 home sold in an average of 55
days. Homes in the $250,000 and lower price points are going quite fast.
You
can watch my weekly video report here, get a copy
of the weekly breakdown AND new listings here. If you're interested in this market area, please
consider following and liking my facebook page at http://www.facebook.com/MichiganRE, where I post local
reports, news, and general real estate items of interest.
Buyers
– work with a LOCAL, full-time agent to have your best chance of success.
Sellers
– agents can look at stats all day long, but it helps to know the market
history and local influences on the market that are not contained in the multilist
system (MLS). Your best opportunity at
success is also a LOCAL agent. Don’t
waste 6 months of time because you chose an out of area agent that advertises
himself instead of YOUR HOME.
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