By David Fleet
The average sale price for area homes has increased in the fourth quarter of 2018 compared to the same time in 2016 according to a report from RealComp released last week.
The average number of days on the market declined in Brandon and Groveland townships while remaining level in Atlas Township. Home inventories have been steady in Atlas and Groveland townships with a decline in Brandon Township.
RealComp is Michigan’s largest multiple listing service for real estate. The data compared was the last quarter of 2016 to 2018.
“Homes are selling fast in this area if priced correctly,” said Loren Hotchkiss of Real Estate One-Ortonville, the largest real estate company in the state and eighth in the nation. “In the last month or so we have seen a slight rise in days on the market.”
“We see home prices stabilizing and it’s an excellent time to list a home right now,” he said. “Inventory is increasing but we still need more existing homes to list. Mortgage rates are on the rise so as the spring months approach those looking to buy a home should move forward. It’s one of those times in the market where it’s great for buyers and sellers.”
When selling or purchasing a home being current is very important for many reasons.
“The days of putting a sign in the yard and posting to the MLS are gone” he said. “With all the new technology and social media outlets it is a must to be present in all areas not just the front yard. With days on the market rising having a bullet proof marketing plan in place will get your home sold before the others. If you have any questions in regards to pricing or purchasing a home feel free to call and I would be happy to help.”
By David Fleet