Tuesday, May 12, 2015

Buyers Market is Continuing to Fade into the Past!

We have been tracking some interesting data based on the Real Estate market locally in Barry County! The Buyers Market of years past continues to fade into a distant memory! Whether your currently in the market to buy or sell a home or not, the news is clear that there is significant movement. The old criteria still applies: If you have an accurately priced home, in a good location, that is in good condition...it is highly likely the property will sell fairly swiftly.

If you talk to an Agent @ Miller Real Estate, ask them about Multiple Offers. You will likely hear that the Multiple Offer situation is more prevalent than it has been in the last 6 years. Miller Real Estate has become more in tune with Multiple Offers and can effectively help both the Buyer and Seller through this process. The fact is, someone wins and someone looses. You just need to know how to present correctly the first time and be ready for those challenges.

So on to the data......

In April of 2014 there were a total of 463 Active listings throughout the month. There were 48 Sold listings at an Average Sale Price of $144,371.

In April of 2015 there were a total of 419 Active listings throughout the month. There were 61 Sold listings at an Average Sale Price of $154,449.

-This data is provided through MICHRIC (Michigan Regional Information Center) and includes all of Barry County single family residential homes.

It is interesting to see that Active listings are down 10%, Sold listings are up 21% and Average Sale Price is up 7%. This data further proves that NOW is the time to list your home. There are fewer Active listings, selling at higher prices and with more listings turning into sales. Miller Real Estate and their Agents are more than willing to come visit your property and give an accurate Analysis of Value.

The process of buying a home has become more regulated. The numerous inspections, documents, title issues, zoning laws, mortgage contingencies and etc. have made the Realtor even more important. If you are currently in the market to purchase, talk to one of our Agents today! We will easily walk you through this ever changing process and help you obtain your end goal.....a place to call Home!
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