Gladwin County Real Estate Market Conditions for May 2012

 

Real Estate Market Conditions for May 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!   

5347 Oakridge, Beaverton                                               

Wixom Lake Waterfront                                                     

    

   MLS #157347                                  $155,000

 2750 Hoover, Gladwin

 27 Acres on the Tobacco River

   

  MLS #157349                   $204,000

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, less days on market but a lack of qualified buyers remains. 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: The inventory for summer is listed, let me help you fund your special place to escape to or call home. Sellers: Selling season is here and your home needs exposure so let's get it on the market 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 May I had 7 closings and I have 11 pending.....the busy selling season has arrived!!

The Clare/Gladwin Board of Realtors currently has 1071 homes for sale through the Multiple Listing Service (MLS) and 164 of those were new to the market in May. The number of new listings is 22 more than last month. The average asking price of the homes currently on the market is $114,668 and the average days on market for those homes has been 270 days. These stats are only slightly different than the last 2 years clarifying my theory that the Gladwin, Michigan real estate market conditions are stable! Residential asking prices range from $6,500 - $950,000.

During the month of May we saw 52 homes sell/close in Gladwin, Michigan. This is 4 more than in April. The average asking price was $60,680. The average sales price was $55,010 and the average days on market for these homes was 261 days. The sellers received an average of 90.6% of their asking price. The average days on market is 7 days less than last month.

In Gladwin 26 homes expired from the market unsold in May. 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 May 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.