Happy new year! 2019 is going to be an exciting year in the Traverse City real estate market. Projections are that the market will be similar to both 2018 and 2017, which means it should remain a strong seller’s market. Our current inventory is at 4.1 months with activity up 14% and values still rising at 2.2% compared to last year. I know winter months may seem like a bad time to sell but, believe it or not, there’s a lot of buyers in the market. Some benefits to selling in winter months are less inventory (less competition) than you will find in the spring and summer. We have found this particularly true this year as we’ve sold several listings in December and January.
Recently I made the switch from Century 21 Northland to Re/Max Bayshore. I joined forces with Bob Brick on the “Brick and Corbett Group”. It’s been a great move for me joining some of the top professionals in the real estate business.
Grand Traverse County had a great year last year with 1629 homes sold equaling a volume of $457,325,124, an average price of $280,739, and an average days on market of 94 days. This year is projected to be similar with values continuing to rise as buyer demand is high.
That concludes my market report for now, please don’t hesitate to reach out with questions.