As autumn settles into Harbor Country, it is time for a market update. The back to school period was relatively quiet, but now in the last couple weeks buyer activity has really started to ramp up. This is seasonally the best time to buy in Harbor Country, as many sellers do not want to hold on through the winter. They are more willing to negotiate in October/November, and the buyers know this.
Market remains pretty strong, and in step with last year. (September Stats) Units sold are up 4% over last year, but days on the market has risen 13% to 204 days in 2014. Average sales price is down 3% to $359,626. This is due in part to the excess inventory in the luxury "off lake" segment. Median Sales price is up 11% since 2013 to a price of $244,000. This reflects the lack of inventory at the lower price points. Year over year dollar volume is basically flat over last year at plus 1% $97,818,162.
The luxury "off lake" segment ($750,000+) offers many great opportunities this fall. I am booked solid with buyers this Sunday, but I still have some time available on Saturday.
If you are in town this weekend, be sure to stop by Harvest Festival down by the boat launch in New Buffalo. This is a wonderful event!