July 2016

In the blink of an eye, July has come and gone and it’s time for a quick recap of the Midland County Real Estate Market.

The number of homes closed in July is down 5.9% from last month. It’s not unusual to experience a slight slowdown in sales at the end of the summer season, as many people focus on vacations instead of home buying. On a positive note, an additional 47 homes have accepted offers on the last two weeks. Of those 47, over one third of them were on the market less than 2 weeks.

Although the average sale price dipped by 9% for the month of July, it is still nearly $20,000 higher than July 2015. It looks like last month’s spike in sales price to an average of $178,000 was caused by some specific higher dollar closings

Discounts continue to remain steady in the 3% range. Again, this means that on average homes are selling very close to their last listing price.

July brought a slight rebound in average days on market for sold listings, up 6.8% to 88 days. Again, we expect to see a dip in this number as homes that have recently accepted offers are averaging 60-70 days on the market.

If you are curious about home sales in your neighborhood or price range, give Park Place Homes a call. Our experienced agents are always happy to answer your questions. 989-698-1100

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