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"Expect the Best" Mike

Tuesday, March 16, 2010

Real Estate Market Update March 16, 2010 Greater Lansing, Michigan

The greater Lansing Association of Realtors YTD stats were shared today at the general sales meeting of Coldwell Banker Hubbell BriarWood who meet once a month for industry updates, programs, and financial mews. The Greater Lansing Real estate market has positive numbers adding up as we near the expiration date (April 30th) of the home buyer tax credit.  A whopping 21.89% increase over last year for volume and 16.76% increase in average sale price. Interest rates are at 5.15% today.

Two of the positive signs shared by Matt Bowler, general Sales manager were average sale price in residential increasing to $94,755.00 up 14% over last year and Residential Market Surplus at 11.25 months  down over last year. What that means to sellers is that right now there is less competition on the market and pricing has somewhat stabilized compared to the big drop in pricing in 2009. 

If you are interested in learning more about marketing your home in the greater Lansing real estate market and determining if now is the right time for you, feel free to contact me for a no obligation review of your current real estate wants and needs.

"Expect the Best" Mike

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