01/25/2023
When you think of real estate right now, you're probably reading articles that discuss interest rates and a cooling housing market. That content is more than likely created using national data points, and not reflective of what is happening locally.
I service the Mid-Michigan area, mostly Isabella and Gratiot Counties. Below, I've broken down what you can currently expect out of the Isabella and Gratiot County real estate markets, as of today, 1/25/2023.
Let's start with Isabella County. Currently, there are 2.66 months of inventory left in Isabella County. This is what we call an absorption rate. Simply put, if all of the homes that are currently listed sell, and there are no other homes listed during that timeframe, it would take 2.66 months to sell every listing.
Gratiot County on the other hand has 2.58 months of inventory left.
WHAT DOES THIS MEAN IF YOU'RE IN THE MARKET TO BUY OR SELL?
This means that we are closer to a balanced market than we have been in recent years. However, we still see ourselves in a seller's market.
If you're thinking about listing your home, you're still in a great position to get it sold. There's still a lot of pent up buyer demand for your home.
If you're thinking about buying, you're seeing more inventory than what's been available, and depending on the property, you may very well be in a good position to work a deal. Or, at the very least, not have to compete with 10 other offers and find yourself in a bidding war.
Message me via Facebook or Instagram to start your real estate conversation.
Cell: 989-506-1006
Email: [email protected]
Address: 123 S. University, Mt. Pleasant, MI 48858