Page 53 - Real Estate One - Marketing Support

TAAR 5-County Waterfront
Traverse Area Association of Realtors Closed Sales
239
JAN. 1ST INVENTORY -22% from last year
664
2019 CLOSED SALES +9% from last year
$539K
AVG SALE PRICE +10% from last year
$358M
CLOSED VOLUME +19% from last year
Summary
90
75
60
45
30
15
0
Mar '18
Jun '18
Sep '18
Dec '18
Mar '19
Jun '19
Sep '19
Dec '19
$700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $-
Monthly Sales
Avg Sale Price
While average sale price and closed volume both set new historic highs in 2019, the 664 closed waterfront units were about 100 less than in 2016 and 2017. Average sale price jumped from $408k in 2016 to $539k in 2019. Both sales and prices in the upper-end of the market are ballooning and properties are selling quickly. Last year, in the $500k to $750k market, sales were up 24%, values up 5% and days on market down by 32 days. In the over $750k market, sales and prices rose 20% and 18% and market times dropped 19 days.
e Price Range
Q1
Q2
Q3
Q4
Total
‘19 vs ‘18
All
Units
77
161
247
179
664
9%
Avg Sale Price
$519k
$469k
$571k
$566k
$539k
10%
$ Vol (million)
$40m
$75m
$141m
$101m
$358m
19%
DOM
174
117
105
121
120
-10%
$10-250k
Units
20
42
54
36
152
-6%
DOM
160
109
106
113
116
-4%
$ Chg
-1%
$250-500k
Units
24
60
89
51
224
5%
DOM
150
116
85
106
105
-14% -6%
$ Chg
$500-750k
Units
21
33
52
51
157
24%
DOM $ Chg
175
124
134
114
131
-11% 5%
$750k+
Units
12
26
52
41
131
20%
DOM
239
126
109
155
139
-12% 18%
$ Chg
Data Source: TAAR/NGLRMLS DOM= Days on Market Percent changes are compared to the same period last year. (Year-Over-Year)
2019 YEAR END HOUSING REPORT