Real Estate Market Conditions for August 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!
240 Hilts Road, Gladwin
80 Acre Wooded Paradise
MLS #157018 $309,900
1514 Birma Trail, Beaverton
Wixom Lake Waterfront
MLS #157779 $94,000
1514 Birma Trail, Beaverton
Wixom Lake Waterfront
MLS #157779 $94,000
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 there is a lot of
inventory to choose from. Homes are more affordable then they have been
in years! Buyers: As fall creeps up sellers may be willing to negotiate
lower sales prices. The inventory for summer is at its
peak, let me help you find your special place to escape to or to call
home. Sellers: September and October are historically the best month
each years for sales. Your home needs exposure to the market so 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 August I had 4 closings and currently I have 9 pending.....sales
continue to be strong!!
The Clare/Gladwin Board of Realtors currently has 1058 homes for sale through the Multiple Listing Service
(MLS) and 101 of those were new to the market in August. The number of
new listings is 25 less than last month. The average asking price of the
homes currently on the market is $114,187 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 $8,000 - 950,000.
During the month of August we saw 81
homes sell/close in Gladwin, Michigan. This is 19 more than in July. The
average asking price was $87,300. The average sales price was $79,045
and the average days on market for these homes was 241 days. The sellers
received an average of 90.5% of their asking price. The average days on
market is 56 days more than last month.
In Gladwin 59 homes expired from the market unsold
in August. 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 July is 1.1 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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