Real Estate Market Conditions for April 2011
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!
681 Quillette Drive, Beaverton, MI 48612
MLS # 155095
$644,000
840 Ridge, Gladwin, MI 48624
MLS # 155042
$175,000
The real estate market conditions in Gladwin, Michigan along with most areas of Michigan, remain challenging, but appear to be stable! A slightly improving economy and a lack of qualified buyers remain, however, if you are interested in buying your first home or your vacation home, it is a fabulous time to buy! Interest rates are low for qualified buyers, there is a lot of inventory to choose from, and homes are more affordable then they have been in years! Buyers: Selling season is here and there is a lot of inventory to choose from. Sellers: Selling season is now until November. Your home needs exposure so 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. April was a fairly typical quiet month in the off season and my personal observations show me a stable market with buyers looking but not making purchasing decisions quite yet. I had 6 closings in April and have 3 pending going into May.
The Clare/Gladwin Board of Realtors currently has 950 homes for sale through the Multiple Listing Service (MLS) and 143 of those were new to the market in April 2011. The number of new listings is up by 49 listings. The average asking price of the homes currently on the market is $118,405 and the average days on market for those homes has been 312 days. These stats are only slightly different than the last 20 months clarifying my theory that the Gladwin, Michigan real estate market conditions are stable! Residential asking prices range from $6,490 - $1,900,000.
During the month of April we saw 37 homes sell/close in Gladwin, Michigan. This is 2 less than in March. The average asking price was $61,269. The average sales price was $54,894 and the average days on market for these homes was 264 days. The sellers received an average of 89.5% of their asking price. The average days on market is 31 days more than last month.
30 homes expired from the market unsold in April in Gladwin. 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 April 2011 is 2.1 years! If you want your Gladwin, Michigan area home sold you need to know this number to help you price your home accordingly.
Are you thinking about making Gladwin County, Michigan your new home? Gladwin County is home to both Wixom Lake and Secord Lake! Are you thinking about taking advantage of the great interest rates and affordable prices to buy your own slice of Northern Michigan Heaven? Contact me today and lets gets started! I know the area very well and I know the market even better! You can call me at 989-429-2600, email me at sonya@sonyaloose.com or visit my website.
