We began receiving great market update information through The Bank of Northern Michigan that's put together by Axiom Appraisal in Traverse City. It breaks down statistics and compares those against the previous year. The last couple week's reports are showing what we already know, the market is making the turn upward, especially the waterfront market!!! We're going to begin posting the reports under our Buyer Toolbox in the Resources portion of the site if you'd like to review them. Here's a bit of the information contained in this week's report.
Year over Year Comparison for Grand Traverse County on & off water homes
Off Water Homes All Values
Current Listings 1061
Sales 05/08-05/09 770 05/09-05/10 918
Average DOM 150 or 5.0 Months
Value Direction Down 4.7%
Market Activity Up 19.2%
Inventory Supply 13.9 Months
Direct Water Homes All Values
Current Listings 312
Sales 05/08-05/09 77 05/09-05/10 97
Average DOM 201 or 6.7 Months
Value Direction Up 1.2%
Market Activity Up 25.9%
Inventory Supply 38.6 Months
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