The 2018 numbers are in from the Traverse Area Association of Realtors (TAAR). While 2018 was a very good year for sellers, total sales went down 13% across Antrim County, mainly due to an inventory shortage in certain price ranges.
Mancelona was a bright spot in the chart, as it fared better than other towns.
DEK Realty is thrilled that our sales continue to rise despite this downturn, especially since more realtors have joined the business in the past two years.
The county’s total home sales were down 13%, with the number of residential properties sold dropping 17% from 472 to 380, which is just over one house per day.
On the plus side, the median sold price was up 9% to $169,950. The median number of days on the market in Antrim County went from 95 to 94, a 1% drop.
Right now there are only 184 properties listed in Antrim County. This is considered less than a 6 month inventory .
Mancelona was a bright spot in the county, as total home sales were down just 1%. The really good news for Mancelona sellers is that the median sold price for a home was up 13% to $95,700 and the median number of days on the market dropped 21% to 84 days!
However, due to limited inventory, the actual number of residential properties sold in Mancelona dropped 19%, from 118 to 95.
Bellaire’s numbers are a mixed bag. Total home sales were down 8%, and the number of residential properties sold went down by 5%. The median sold price was down 1% to $141,500.
In 2018 it took a median of 98 days to sell a home in Bellaire, which is down 8%.
Both Central Lake and Alden had tough years, but they also have much smaller samples to compare.
In Alden, the total residential sales were down 63%, with total units down 26% and the average sold price dropping 32% to $197,500. Median days on the market doubled to 126.
In Central Lake, total home sales were down 43%, with number of residential properties sold dropping 35%. Median sold price was down 7% to $139,000.
In summary, it is a seller’s market in Antrim County due to low inventory which has caused prices to rise!! If you want to sell you house, contact us today! Buyers, click here to see what is available. Contact us at dekrealty@gmail.com if you want to receive regular email updates.