In reviewing last month’s market update, it is very apparent that Mother Nature threw us a curve ball! At that time, the snow had not affected the spring market and things were progressing in the positive direction. However, driving on ice and snow has taken its toll on the March housing market in a few areas.
The number of homes sold in March was up 4.7% from February, sales are down 21 units as compared to March 2015. We are keeping a watchful eye on the two areas that may be impacting sales: the reorganization of Midland’s primary employers, Dow and Dow Corning, and 2016 being an election year. Uncertainty often causes minor market slowdowns.
On the bright side for sellers, the average discount on homes sold in Midland County in March was only 3.7%! This means sellers are getting closer to list price. Average days on market was 82 as compared to 131 in March 2015. For buyers, this means if you see a home you like, don’t wait! It could be sold before you get a chance to make an offer.
Hopefully we have seen the worst of old Mother Nature and the remainder of spring will be sunshine, flowers, and home sales! For more information on the Midland County real estate market, or specific information on buying or selling a home, call Park Place Homes. 989-698-1100.