June Newsletter

 

Greetings and Happy Summer!

 

The number one thing I am being asked .... How’s The Market? Frankly, my answer is changing every month which is a new thing for me. We have said goodbye to the crazy days of 2021/22...but we do have some properties to sell and plenty of Buyers looking. With sunshine and warmer days here the forecast for more properties hitting the market is looking steady and I am choosing to remain positive. With slightly below the average number of listings for this time of year and an average list price of $725K it goes without saying that homes are still selling in the 5 County region with an average sale price of $450K. At the height of the pandemic market in 2020 the average sale price was $293K and the average List Price was $335K.

 

The summary here is once Sellers make the decision to list their properties there will be plenty of Buyers looking, but the change is Buyers are more discerning and looking for a deal again. If you have not heard the term Buyer exhaustion from me you will now. Hot listings still have waterfront, water views or water access or they are walkable to the downtown areas of the Northern Michigan small towns.

 

It’s still a great time to think about a purchase in the surrounding area and if you are a Seller an incredible time to list your property. It’s never been more important to price the property effectively without leaving money on the table or an unrealistic list price leaving the home sitting on the market. Traditional Buyer deals are back in play and the market feels more balanced again.

 

So the market is “Not Bad” it’s just feeling different than it did even 6 months ago.