Interested in how the market was doing in August 2016?

Homes Sold – 71 (up 5 homes sold from the previous month)

Location Breakdown:
Alanson– 9 Homes
Bay Harbor – 4 Homes (2 Condos – both with Water Access. 1 Home with Water Front.)
Conway – 1 Home
Harbor Springs – 26 Homes (incl. 9 Condos, incl. 1 Condo with Water Front, 1 Home with Water Front & 1 with Water Access).
Pellston – 2 Homes
Petoskey – 29 Homes (incl. 7 Condos, 3 Homes with Water Front).

• The longest marketing time required for homes sold in August 2016 was 616 days.
• The shortest marketing time was 0 days (home was sold before listed), and the average time was 164 days. 1 home sold after it expired.
• The highest list price of homes sold in August 2016 was $2,850,000 while the lowest list price of homes sold was $35,000.
• The average list price of homes sold was $357,578.
• The highest sale price of homes sold in August 2016 was $2,728,625.
• The lowest sale price was $28,500.
• The average sale price was $336,553.
• The total sales volume for the month of August in homes sold was $23,895,273.
• The most common forms of sale was through conventional mortgage and cash.
• There were 3 sales that went through the Veteran’s Administration. 1 sale was through land contract.

Vacant Land Sold – 24 units sold, 4 properties over 15 acres

Location Breakdown:

Alanson– 1 76.60 acre parcel
Bay Harbor – 3 Water Front lots
Carp Lake– 3 lots (incl. 2 Water Front)
Harbor Springs – 10 lots (incl. 1 Water Front and 2 Water Access)
Levering – 1 18.79 acre parcel
Mackinaw City– 1 acre Water Front lot
Pellston – 1 Lot
Petoskey– 4 properties sold (incl. 1 property with 236 acres, 1 property with 9 acres and Water Front, and 1 property with 39 acres)

• The longest marketing time required for property sold in the month of August 2016 was 1468 days.
• The shortest time was 25 days.
• The average marketing time was 407 days.
• 1 property sold before listed and 3 sold after they expired off the market.
• The highest list price of property sold during August 2016 was $1,750,000.
• The lowest list price was $10,000.
• The average list price was $205,254.
• The highest sale price of property sold in August 2016 was $1,500,000.
• The lowest sale price was $10,000. The average sale price was $174,370.
• The total sales volume of property sold in August 2016 was $4,184,900.

Data provided by the NMMLS. Compiled for you by Fairbairn Realty. Call 231-548-9336 or email admin@fairbairnrealty.com with any questions.