Just a quick recap on the October 2016 Midland Michigan Real Estate Market: The number of homes sold continues to decline as we head into the fall market. However, the number of homes sold this October as compared to last October is nearly identical.
The average sales price in October was up nearly 7% from September. For the year, the average sales price for single family homes in Midland County is up nearly 4% from last year. This great news for sellers who may have been waiting to sell in order to recoup value.
We are also seeing a slight uptick on days on market for homes sold. The average in October was 82 days up from just 62 days in September. There are 2 probable causes for the upward shift in this number. First, the frenzied summer buying season has begun to cool. Secondly, we have seen an overall decrease in the number of listings. As a new inventory diminishes, homes that may have been overlooked become the best option.
It is often assumed that Real Estate Sales slow or cease in the winter months. That is simply not the case! If you are considering a move, there is no time like the present. Call Park Place Homes today to get started. 989-698-1100