Here’s a quick peek at the Local Market statistics for the end of 2009. Every year we receive an official Annual Report from Closser and Associates. This years report is scheduled for Feb 4th. When I look at the market, I try to review it with the same parameters that the Closser report does, so that it has some consistency. They examine single family homes and condos only in the Marquette School District areas (Marquette City, Marquette Twsp, Chocolay, and the portion of Sands Twsp in the Marquette Schools.) I have done the same, and compared 2009 to 2008. Here are my results:
Units Sold - remained basically equal
Median Sold Price – down about 7%
Median List Price – down about 6.25%
Median Days on Market – down about 9%
These results were not surprising to me. This has been the year that our market started to reflect the downturn that has been occurring across the country. In the previous two years we had seen a drop in the number of homes sold but not in our prices. This year things changed for us.
Highest Priced Home Sale:
2008= $900,000., 2009 - $555,000.
2009 Median Sales Price: $142,000.
These stats are tentative right now. I’ll report back on the “official” results after we receive Clossers report. As usual, please feel free to contact me if you would like any local real estate information, or if you are thinking of buying or selling.
