Autumn Sunset over New Buffalo and Lake Michigan

Following a hectic month in November, I thought it was time for a quick market update. November saw 44 closings in our area, up 57% over the same time last year. The beautiful weather this fall played some part in this. Year to date there have been 361 residential closed sales, up 6 % over 2015. Days on Market are down to 152 vs. 177 in 2015 for a 14% reduction. This average can be used as a reasonable estimate if you choose to sell. If you can wait until spring to list, you will be in the strongest position. I would recommend late Feb to early March as the ideal listing period in our area. Average sales price in 2016 is -1% compared with 2015. Total dollar volume up 5% in 2016 to 129.5 million. Residential inventory is down 13% from last year. Last-minute buyers can often negotiate great deals at this time of year. Many sellers are highly motivated as we head into another winter!

Happy Holidays!