Traverse City, July 2009 Home Sales

Home sales statistics have been finalized for closed sales during July of 2009. I have compared them to June of 2009 and July of 2008 for the Traverse City 5-county area (Grand Traverse, Leelanau, Antrim, Kalkaska, Benzie).

5-County AreaSold HomesDollar VolumeAverage PriceMedian Price

JULY 2009198$38,330,997 $193,591$140,500
JUNE 2009195$38,997,270 $199,986$143,000

JULY 2008

180$40,424,955 $224,583


This report is based upon sales information obtained from the Traverse Area Multiple Listing Service from July 2008, June 2009, and July 2009. Undisclosed sales are not included in the data.

When comparing July 2009 to July 2008, home sales have actually increased over the past year from 180 closed transactions in 2008 to 198 in 2009. As expected Dollar Volume, Average Price, and Median Price have dipped as the bottom of the market is seeing the most activity.
EDIT: There were 51 bank owned sales in July which resulted 25.75% of total sales. Looking back at June-2009, bank owned properties were 29% of total home sales.

-Jonathan Oltersdorf