The five county region consisting of Antrim, Kalkaska, Grand Traverse, Leelanau and Benzie Counties show that sales of real property have more than doubled in 2009 over 2008 for the eleven months ending November 30, 2009. Both total dollar volume and units more than doubled over 2008 and are well ahead of 2007. While our sellers have had to be very aggressive in the current market in order to compete, I believe overall our waterfront properties have held up well when compared to residential and commercial properties. The sales have increased in every price category - up to $1,000,000 and over which saw 2 sales this year, none in 2008 and 1 in 2007.
Going into 2010 I am excited that the market seems to be moving at a good pace with the help of great mortgage rates and aggressively priced properties. It will still be a year of high inventory levels which will continue to keep pricing in check. Our Sellers need to make sure that there property is clean, maintained and one of the most aggressively priced if they want to sell under the current market conditions.
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