Existing Home Sales Up In 5 County Grand Traverse Region

Good news about the housing market continues to make the headlines. The Traverse City Record Eagle reports today that in the 5-county Grand Traverse region there were 201 existing home sales in April, the highest total for the month in five years. Sales were up 14 percent from March's totals, and up almost 56 percent from April 2009!! Regionally, existing-home sales in the Midwest rose 9.9 percent in April to a pace of 1.33 million and are 29.1 percent above a year ago. The median price in the Midwest was $146,400, up 5.8 percent from April 2009.

As reported yesterday on the Homewaters Blog direct waterfront sales in the last 12 months in Grand Traverse County are up 25.9% over the 12 months prior and values are up 1.2%!! Mortgage rates are low and many economic indicators are positive. Is this a perfect storm for the Waterfront Buyers?? Only time will tell.