Residential Sales are Good in the Traverse City Area While Vacant Land Sales are Flat

Despite what you may hear on the national news or the street, the real estate market in the Traverse City Area is great. Wait... let me clarify. The residential market in the Traverse City Area is great. With record low interest rates and flexible sellers, you will never find a better time to buy a home in this area. While you may have to take a bit of a hit on your price, you'll find that you can generally make up for any loss on the next home you buy. Think of it as "Trading Equity".

The vacant market is a whole different thing. Unlike the residential market which has seen declines, the vacant market remains flat. Flat because very few properties are selling at all. Prices can only fall if there are a lot of buyers and sellers find themselves discounting to stay competitive.

With the vacant market we are seeing sellers hold firm on prices and those who do discount have very few interested parties. Without sales the prices simply stay flat. That said there are a lot of really good deals out there if you are willing to take the time to look. Contact a REALTOR and see what is out there. You just might be surprised.

As always feel free to contact me with any real estate needs or questions. Jules@JulesYates.com