Gladwin County Real Estate Market Conditions for October 2012

Real Estate Market Conditions for October 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!   

3729 West Branch Drive, Gladwin                
Secord Lake Waterfront                               
            
MLS #158123              $249,900      
               
 300 Van Dyke Road, Beaverton
 Family Friendly Home
 
 MLS #158140            $37,500

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: With fall 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 October I had 7 closings and currently I have 4 pending.....sales continue to be strong!!

The Clare/Gladwin Board of Realtors currently has 931 homes for sale through the Multiple Listing Service (MLS) and 92 of those were new to the market in October. The number of new listings is 9 more than last month. The average asking price of the homes currently on the market is $109,730 and the average days on market for those homes has been 282 days. These stats are only slightly different than the last 2.5 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 October we saw 64 homes sell/close in Gladwin, Michigan. This is 2 less than in September. The average asking price was $95,746. The average sales price was $86,333 and the average days on market for these homes was 256 days. The average days on market is 5 days more than last month. The sellers received an average of 90.1% of their asking price.

In Gladwin 90 homes expired from the market unsold in October. 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 October is 1.2 years! If you want your Gladwin, Michigan area home sold you need to know this number to help you price your home accordingly.