Real Estate Market Conditions for October 2012
Gladwin County is located in rural
Northern Michigan and is conveniently located within 3 hours of
Detroit
and 2-2.5 hours of Flint and Lansing making it easy to come "Up North"
for the weekend. But, we encourage you to stay longer. After visiting
Gladwin you will want to spend much more time here!
Gladwin, Michigan
is an area popular for its scenic lakes (including Wixom Lake and
Secord Lake), plentiful state land, quaint parks, Amish communities and
down town shopping.
Gladwin is primarily
a second home/resort community due to the amount of waterfront homes.
Gladwin, Michigan has real estate to accommodate every buyer from very
affordable cabins to luxurious homes. As a life-long resident of Gladwin
County I know the area well and the
real estate market even better!
3729 West Branch Drive, Gladwin
Secord Lake Waterfront
MLS #158123 $249,900
300 Van Dyke Road, Beaverton
Family Friendly Home
MLS #158140 $37,500
The
real estate market conditions
in Gladwin, Michigan along with most areas of Michigan, remain somewhat
challenging, but appear to be stable! There is a slightly improving
economy and less days on market. If you are interested in buying your
first home or your vacation home, it is a fabulous time to buy! Interest
rates are very low for qualified buyers, and there is a lot of
inventory to choose from. Homes are more affordable then they have been
in years! Buyers: With fall here sellers may be willing to negotiate
lower sales prices.
Let me help you find your special
place to escape to or to call home. Sellers: Your home needs exposure to
the market all year long! List today if you are serious about selling!
Here are the latest real estate market
conditions for Gladwin, Michigan and the surrounding areas of
Beaverton, Harrison, Clare, Rhodes, Bentley, Wixom Lake and Secord Lake.
In October I had 7 closings and currently I have 4 pending.....sales
continue to be strong!!
The Clare/Gladwin
Board of Realtors currently has 931 homes for sale through the
Multiple Listing Service
(MLS) and 92 of those were new to the market in October. The number of
new listings is 9 more than last month. The average asking price of the
homes currently on the market is $109,730 and the average days on market
for those homes has been 282 days. These stats are only slightly
different than the last 2.5 years clarifying my theory that the Gladwin,
Michigan real estate market conditions are stable! Residential asking
prices range from $7,500 - 950,000.
During the month of October we saw 64
homes sell/close in Gladwin, Michigan. This is 2 less than in September.
The average asking price was $95,746. The average sales price was
$86,333 and the average days on market for these homes was 256 days. The
average days on market is 5 days more than last month. The sellers
received an average of 90.1% of their asking price.
In Gladwin 90 homes expired from the market unsold
in October. The main reason homes don't sell during their listing period
is that they were priced incorrectly for the real estate market
conditions and or condition of the home. In any market it is imperative
that a listing be priced as competitively as possible for its condition
in order to have the best chance of selling. To learn more about why
homes expire from the market
visit this link to a page on my website. If you're thinking about selling your Gladwin area home one very important fact to know about your
real estate market conditions is the absorption rate. The absorption rate will tell you how long it will take for the current inventory of homes in
Gladwin, Michigan
to be absorbed by the market if no other homes come on the market. The
absorption rate for October is 1.2 years! If you want your Gladwin,
Michigan area home sold you need to know this number to help you price
your home accordingly.
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