Gladwin County Real Estate Market Conditions Year in Review

 

Gladwin County Real Estate Market Conditions Year in Review 2012

Looking back over the Gladwin County real estate market sales and statistics for 2012 I can't help but feel pride over what I've accomplished.  I am very aware that my success couldn't have been realized without each and every seller and buyer who placed their trust in me.  The support of my staff, Sherri and my husband and son, Jason and Chandler, played an integral role as well.  Combining that with the Homewaters brand and the encouraging owners, Chad & Mandy, allowed for another record breaking year.  I personally sold 73 units this year for $5.1 million in home sales I was able to make it possible for so many  people to find their slice of heaven, or to accomplish the sale of their home.  Smashing the 2012 sales totals by selling $1 million more in 2012 than in 2011 was no small feat.  I can attribute the success in part, to many, many hours of hard work, a passion for my career, a competitive attitude, a thorough understanding of the existing market, an ability to competitively price a home, the extensive internet marketing I offer clients, the use of the latest technology that improves my efficiency and allows me to carry more inventory along with my follow up and communication skills.  As I gear up for a strong 2013 I am excited to see what sales records will be broken and to meet new people placed in my path during the year that I will be lucky enough to help accomplish their dreams.  

Homewaters Recreational Real Estate serves all of Northern Lower Michigan and this year we were able to participate in over 200 transactions for a grand total of over $30 million in sales.  At Homewaters, we truly feel like we are selling a lifestyle and not just a piece of real estate and our commitment to the communities we serve is certainly translated through our sales figures.

Below is a comparison of 2011 and 2012.

The following data was obtained from the Clare/Gladwin Board of Realtors Multiple Listing Service and reflects residential home sales only.

                                                       

                                                               2011                2012

Number of Listings                              1339                1351

Average List Price                               $105,312          $101,003

Average Sold Price                             $70,626            $75,098

Number of Sold Listings                      565                  644

Average Days on Market (for solds)  241                  234

% of Asking Price Received               89.1%              90.4%

Referencing the grid above you can see there were 12 more listings in 2012 with a lower average asking price than the previous year.  However, the average sold price rose!  Perhaps sellers were more realistic or aggressively pricing their properties this year.  The strategy worked because there were 78 more sales than last year!  That is an average of 6.5 more sales every month.  Days on market remained stable as well as the percent of asking price the seller received.  More inventory selling means more buyers in the market and points to a tightening up of the real estate market in this area.  There are signs of a return to a more balanced market and a shift towards a seller's market.  I think this market shift will be gradual but I think it is safe to say the worst is behind us!  I hope this information has proven to be valuable to you and can serve as a guide towards your future decisions to buy or sell real estate.