April 13, 2022
Costs proceed to climb as actual property gross sales lower throughout the area. Residential dwelling gross sales in March dropped from these of March 2021 in each county served by Aspire North Realtors save Kalkaska, which matched its complete of 15. Grand Traverse decreased to 97 from 121; Leelanau to 22 from 39; Benzie to twenty from 30; and Antrim to 33 from 35. Total greenback quantity declined to $88,368,771 from $92,686,444, although that assorted by county; Grand Traverse and Kalkaska posted beneficial properties, whereas the opposite three dropped. But the typical sale value jumped in each county besides Antrim. It was up by over $100,000 in Grand Traverse and Benzie. In Kalkaska it elevated by nearly $200,000, to $372,773 from $183,440, whereas in Leelanau it went up much more, to $789,263 from $546,674.
Final yr’s March gross sales topped earlier totals in most each county in each models bought and greenback quantity. The constraints of a diminishing stock and continued or rising curiosity from consumers account for the continued escalating costs. Total bought value for final month was practically $1,000,000 above total checklist costs, at $88,368,771 vs. $87,801,549. That stress will also be seen within the common variety of days a house was available on the market, a low of 73. In March 2021 it was 92, and was nicely over 100 each earlier March.
Quarterly totals present that this yr down compared to the final a number of. There have been 511 residential gross sales within the first three months of this yr, in comparison with 595 final yr. Of the final seven years, the one yr with fewer gross sales within the first quarter was 2018. But the greenback quantity this yr was at a brand new excessive, with residential gross sales of $226,460,888 topping all earlier first quarter totals. Vacant property gross sales took a tumble from final yr’s first quarter, all the way down to 266 models from 376, with the greenback quantity shrinking to $33,523,776 from $46,065,210. Previous to final yr, vacant gross sales had beforehand by no means topped $19,000,000 for a primary quarter.