When considering if it is a good time to invest in any given real estate market, one of the very best statistics to consider is the amount of homes for sale in that market relative to the number of homes sold per month. The analysts call this the number, "Months of Inventory". Our market, Southwest Michigan's Harbor Country, hit bottom when the Months of Inventory peaked in the early part of 2009 with approximately 27 months of inventory. Historically, in our seasonal market, around 12-18 months of inventory signals a healthy market. A seller's market occurs when less than 12 months of inventory is available.
The latest figures show that the market has improved dramatically as prices have over corrected and buyers have been snatching up vacation homes at bargain prices. Inventory of homes for sale in Southwest Michigan have dropped significantly, and in Harbor Country, the new figure for Months of Inventory is equal to numbers we havent seen since 2006-07.
I uploaded a chart at http://www.thedailylistings.com/southwest-michigan-real-estate-statistics-and-market-data/
Author:Paul Zubrys Phone: 269-783-5253 Dated: August 5th 2011 Views: 2,054 About Paul: I began my real estate career in 1987. Harbor Country Real Estate, Lake Michigan Lakefront Property,...
Do you know where the best beaches are located, and why? Don't worry, we do. Do you know which neighborhoods have deeded private beach rights? Which beaches have the lowest bluffs and easy beach access? Which lakefront homes are located within areas designated as High Risk Erosion? We know, because 255, 255); background-color: rgb(165, 165, 165);">Lake Michigan Lakefront Property and beach access real estate in Southwest Michigan is all we do.
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Paul Zubrys, Principal Broker / REALTOR
Southwest Michigan & Northwest Indiana Real Estate since 1987.
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"Paul was great to work with. Whenever we would visit a property he would just let us walk around and wait to see if we had any questions. We must have visited a dozen or more properties and he was always "no pressure" and would let us do our own thing. We REALLY appreciated that approach and don't like it when Realtors follow you around and constantly point out different things about a home. He knew the area very well and his process skills were very good as well. Highly recommend Paul."