Real Estate Market Conditions for December 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!
780 Quillette, Beaverton, MI
Wixom Lake Waterfront Easement
MLS #158291 $179,000
1043 McKimmy, Beaverton, MI
Wixom Lake Waterfront
MLS #158295 $139,900
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, stable values and less days on market than before. 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 a lot of inventory remains. It should be noted inventory levels are
lower than in previous years which indicates a shift from a stable
market to a sellers market. I believe the shift will be a slow process
however. Homes remain more affordable then they have been in years!
Buyers: With winter 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 December I had 3 closings and currently I have 6 pending.....sales
continue to be strong!!
The Clare/Gladwin Board of Realtors currently has 770 homes for sale through the Multiple Listing Service
(MLS) and 56 of those were new to the market in December. The number of
new listings is 6 less than last month. The average asking price of the
homes currently on the market is $103,990 and the average days on
market for those homes has been 293 days. These stats are only slightly
different than they have been the last 3 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 December we saw 42
homes sell/close in the area. This is the same number of sales as we
had in November. The average asking price was $94,584. The average sales
price was $84,974 and the average days on market for these homes was
245 days. The average days on market is 8 days more than last month. The
sellers received an average of 89.8% of their asking price.
In Gladwin 107 homes expired from the
market unsold in December. 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 December is 1.5 years! If you want your Gladwin,
Michigan area home sold you need to know this number to help you price
your home accordingly.
