Posted in bay city, Bay City Michigan, Buying Homes, community, Finding a great Realtor, goal setting, Home Buyers, Home Selling Tips, midland, Midland Michigan, Midland Saginaw Real Estate, real estate, Real Estate Bay Midland Saginaw, Real Estate Market Statistics, Realtor, saginaw, Selling Homes, Selling Your Home, Tips for selling your home faster, Uncategorized

Less Sales – Higher Prices for Saginaw County

Based on number of transactions, March 2017 fell short in Saginaw County home sales when compared to a very robust March of last year, and even behind the 5 year March average. Don’t despair! If you are a buyer or seller there is still good news.

Despite the lower number of sales, Saginaw’s 12 month average sales price ending in March 2017 was at $104,314. This is up 3.33% over last year at the same time. I remember back in 2008 when the average home sale was at a whopping $64,143 – so we’ve made a lot of progress getting back to the “Pre-crash” price in 2005 and the average was just over $107,000.

Lots of numbers. What does it mean? Well, we can’t really formulate a trend from the low March sales. I’ll be keeping an eye on it to see if it was a statistical anomaly for the month. A slow March in essence is really a slowdown of activity in January. The plus side is the increase in home values for our various communities. That’s good news for sellers.  This in turn, realistically is also good for buyers.  Why? Well, all year we’ve seen low inventory of good homes.  As word spreads that home prices are continuing to rise, more sellers are likely to get their homes on the market. This gives a buyer more choices, which also gives them more leverage when making an offer.

The March trend was different for Bay and Midland Counties, despite how closely tied our Mid-Michigan communities are.  Bay County saw 25% more transactions this March over last year which is great; however the average sales price rose less than 1%.  Midland also saw about a 20% increase in number of transactions over last March plus had a 6.13% increase in values.

Quarterly reports should be out soon and that will perhaps give a little more insight as to whether March was a trend or an anomaly. Always good to keep in touch with the heartbeat of your community.  If you would like to know more specific information for your area, please feel free to call or email me. If you’d like to receive a free home market analysis – I’d love to hear from you.

~Build a better world by building a better you

  • Monique Gilbert – Your Real Estate Matchmaker – Connecting Buyers & Sellers for a Perfect Match
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Posted in Best Time to Sell, Buying Homes, community, Home Buyers, home ownership, Home Selling Tips, real estate, Real Estate Market Statistics, Realtor, saginaw, Selling Homes, Selling Your Home, Tips for selling your home faster

It Is NOT Too Late!

Spring, spring! It’s gotta be Spring or it’s too late! That’s what sellers often think of in regard to home sales. Reality says, it isn’t so. Sure, the highest peak months might be May and June, but looking at the graphs you will most likely be surprised that the only two really low months for closed sales are January and February.

Sales in Saginaw & Midland Counties are up in general this year (yay!) Looking at the graphic below; you can see two things. First you’ll see the difference between the 5 year average and 2016.  Most importantly if you’re thinking of selling, you will see there is not a huge drop-off. Homes are being sold EVERY month.

There is always a market for good inventory.  I would love to give you a free market analysis on your home if you’re thinking of selling or be your buyer agent for those of you looking for that new home of your dreams. Call me today! 989-475-2958!

Graph

Posted in Bay City Michigan, Midland Michigan, Real Estate Market Statistics

1st Quarter Stats Come In! Saginaw Update, Midland & Bay Quarterly Report

MARKET STATS – SAGINAW UPDATE – MIDLAND 1ST QUARTER REPORT – BAY 1ST QUARTER REPORT

As insanely busy as the 1st quarter was for me, and the positive statistics I wrote about in my last edition; it appears Saginaw County in general showed a decline when compared to the last four years. My report a few weeks ago for Saginaw spoke of lesser amount of transactions, but the positivity of the steadily increasing average sales price. It appears, at least for the 1st quarter, when all is said and done that the increase of prices seems to have hit a standstill, and the number of transactions is still down. However (you’ll always hear the bright side from me, and I know there always IS a bright side) the fact remains that there are still high demand areas, and if your home is priced accurately and is clean – there’s a market for it! I’m consistently hearing agents say we need more inventory, that they’re crazy busy, and there’s a low supply of “nice” homes.  I’ll touch base in another session about the best ways to make your home worth more without spending a fortune.

MIDLAND STATS

Anyone from Mid-Michigan can tell you that though our Tri-County borders bring us together, the housing markets are very different. Midland tends to have the highest average home sale price of the three counties. They are also the only county of the three who didn’t see the 40% drop in home values back in 2008-2009. In fact, they are already showing prices a bit higher than 2005 and just a hair below the highest in a decade that occurred in 2007.  The average home sale in Midland is currently around $156,000. Though the number of transactions here was also down somewhat, the rebound in price seems to be enough to make up for the total volume in sales.  There are however, areas of Midland County as a whole that have suffered more than others. Again, like Saginaw and Bay – it is the out-area townships that are having a Days-On-Market (DOM) issue. For instance a home in Lee Township in the $150,000-200,000 price point shows an average DOM of 36 months and over in Edenville Township if your home is over the $300,000 price you may expect a whopping 48 month average DOM! As a whole, I am seeing a lot of “green” on my Midland Stats sheet though – which means an average DOM under 3 months, and that’s great! These DOM’s are an average and don’t take into account if you’re listing with a great agent or just an agent, and trust me it makes a difference! (That’s another blog topic to come – What makes a great agent) All-in-all Midland County, you’re doing pretty well.

BAY COUNTY STATS

I mentioned in my previous entry that covered Saginaw, that looking at Bay County’s long term stats really surprised me.  I think most people believe Bay County to be doing pretty well but looking at the average prices over the last decade shows Bay County to have suffered greatly, and has the slowest rebound in terms of recovering prices.  In 2005 the average home was $140,000. It dropped to just $70,000 in 2009 (yes, 50%!) and has only rebounded to about $92,000 so it has quite a ways to go before getting back to “before the crash” prices. The total volume for Bay County did pick up quite a bit from 2012-2014. 2014 landed right around $95 million in sales volume which is a positive 28% compared to 2008. I’m seeing mostly green in the Bay County Stats as well, which is great! There are only a handful of red areas here, which are all in the higher price points. If you don’t have a home worth more than $300,000 in Pinconning, or more than half a million in the City, you should be just fine.

SUMMARY – All in all, as I will always continue to say, the market can be quite a hilly road on a graph but whether it’s on the downhill or upward trek of the thing – homes are selling. The key is to get the right agent, who will work hard to sell your home and for you to listen to your agent when it comes to their suggestions. A good agent will not advise you to spend a lot of money, but they will have a small list of invaluable items you can do to be sure your home is the one that sells! They’ll also market your home, not just place it on the MLS with a sign in your yard. But here I go on a whole other topic… so til next time – —–

And remember, if you would like a full marketing report or market analysis on your home, please send me a message at moniquegilbert@bhhsmi.com or sign up for Market Watch at http://www.homesofmidmichigan.com