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Clare County Residential Market Trends - December 2024

 

Unlocking the Real Estate Market with Cummings Realty

Hello Buyers and Sellers!
At Cummings Realty, we’re here to keep you informed and empowered as you navigate the exciting world of real estate. Today, we’re diving into some key market metrics that paint a picture of current trends and opportunities. Whether you’re buying, selling, or just curious about the market, here’s what you need to know:

1. Months Supply of Inventory: A Healthy Balance

The Months Supply of Inventory currently stands at 2.91, indicating a balanced market. What does this mean? At the current sales pace, it would take about 2.91 months to sell all the homes currently on the market. This balanced level of supply and demand creates opportunities for both buyers and sellers to achieve their goals.

2. Inventory Trends: A Shift Toward Buyers

Over the past year, the 12-Month Change in Months of Inventory has seen a significant increase of +20.75%. This uptick suggests that buyers now have more options to choose from, potentially gaining more negotiating power in the process. For sellers, this means that pricing your home competitively is more important than ever.

3. Speed of Sales: Homes are Moving Fast!

With a Median Days on Market of just 43 days, homes are selling relatively quickly. This is great news for sellers, as it reflects strong buyer interest and a fast-paced market. Buyers should be ready to act quickly when they find the perfect property.

4. Negotiations: Sellers Hold the Upper Hand

The List to Sold Price Percentage is currently at an impressive 97.7%, showing that sellers are securing prices close to their asking amount. Buyers should approach with competitive offers, as this data demonstrates the strong value sellers are achieving in this market.

5. Median Sold Price: Market Stability

The Median Sold Price for homes in the area is $191,500. This figure highlights stable pricing trends, helping both buyers and sellers position themselves strategically. Sellers can feel confident about the value of their homes, while buyers can make informed decisions based on current market conditions.

What Does This Mean for You?

These metrics reflect a dynamic and balanced real estate market. Whether you’re looking to buy, sell, or simply explore your options, now is a fantastic time to make your move.

At Cummings Realty, our dedicated team is here to guide you through every step of your real estate journey. From expert market insights to personalized strategies, we’re committed to helping you turn your goals into reality.

Ready to Make Your Move?

Contact us today to learn more about how you can take advantage of these opportunities in the market. Let’s make your real estate dreams come true with Cummings Realty—your trusted partner in real estate!

Stay informed, stay engaged, and happy house hunting!










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