Real
Estate Market Conditions for November 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!
110 Fawn Lane, Gladwin
Secord Lake Waterfront
MLS #157249 $160,000
5347 Oakridge, Beaverton
Wixom
Lake Waterfront
MLS
#157347 $155,000
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 a lot of inventory remains. Homes are
more affordable then they have been in years! Buyers: With winter 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 November I had
7 closings and currently I have 7 pending.....sales continue to be strong!!
The Clare/Gladwin
Board
of Realtors currently has 854 homes for sale through the
Multiple Listing Service (MLS) and 62 of those were new
to the market in November. The number of new listings is 30 less than last
month. The average asking price of the homes currently on the market is $103,996
and the average days on market for those homes has been 290 days. These stats
are only slightly different than they have been the last 3 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 November we saw 42 homes
sell/close in the area. This is 22 less than in October, demonstrating the
beginning of our "off season". The average asking price was $90,842.
The average sales price was $82,468 and the average days on market for these
homes was 237 days. The average days on market is 19 days less than last month.
The sellers received an average of 89.7% of their asking price.
In Gladwin 88 homes expired from the market
unsold in November. 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 November is 1.7 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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