Leelanau County Home Sales vs S&P 500 Index Year-End Price 2004-2016
Out of curiosity I wanted to chart the average home sales price and median sales price in Leelanau County compared to the S&P 500 Index year-end value dating back to 2004 to determine just how correlated the three data sets are. As expected, you can see in the graph above there is a significant trend between the rise and fall of home prices and the rise and fall of the S&P 500 Index. Even though our real estate market has recovered significantly since 2008-2009 it hasn’t approached the astonishing growth of the stock index during that timeframe. Is the stock market significantly overvalued today? Will Leelanau County home values continue their growth trajectory? No one can predict with certainty what will happen but we can try!
This report is based upon sales information obtained from the Traverse Area Multiple Listing Service from 2004-2016. Undisclosed sales are not included in the data. This is for basic review purposes only. All attempts for accuracy have been made but cannot be guaranteed.