Page 62 - Real Estate One - Marketing Support

Kalkaska County Waterfront
Single Family Homes
Closed Sales
33
JAN. 1ST INVENTORY +14% from last year
62
2019 CLOSED SALES -14% from last year
$232K
AVG SALE PRICE +2% from last year
$14M
CLOSED VOLUME -12% from last year
Summary
12
10
8
6
4
2
0
Mar '18
Jun '18
Sep '18
Dec '18
Mar '19
Jun '19
Sep '19
Dec '19
$500,000 $400,000 $300,000 $200,000 $100,000 $-
Monthly Sales
Avg Sale Price
Sales, which hovered around 100 units in 2016 and 2017, fell to 62 units in 2019. Although average sale price was up compared to the prior year, prices were slightly higher in 2017. With such a small sample size, averages jump erratically with each sale. In markets like this look at the raw numbers. For example, in the $125k to $200k market, there are currently 9 active listings with 18 sales last year. Inventory should turn at least twice in 2020. In the over-$350k range, there are 14 active listings with only 12 sales in the past year. Understanding this helps buyers and sellers plan for needed adjustments.
e Price Range
Q1
Q2
Q3
Q4
Total
‘19 vs ‘18
All
Units
3
16
25
18
62
-14%
Avg Sale Price
$250k
$210k
$245k
$232k
$232k
2%
$ Vol (million)
$1m
$3m
$6m
$4m
$14m
-12%
DOM
343
126
127
103
130
-10%
$10-125k
Units
1
4
8
2
15
-17%
DOM
238
94
114
117
117
-20%
$ Chg
-13%
$125-200k
Units
1
6
5
6
18
-18%
DOM
298
206
285
112
202
46% 18%
$ Chg
$200-350k
Units
0
4
5
8
17
-23%
DOM $ Chg
-
86
73
89
84
-26% -12%
$350k+
Units
1
2
7
2
12
20%
DOM
492
25
68
124
106
-53% -1%
$ 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