Fenton Expo Success. Thank you Fenton and Linden Regional Chamber of Commerce for the wonderful opportunity this last weekend to connect with businesses and friends in our community. We had a fantastic time!
Home – Fenton Regional Chamber of Commerce (fentonlindenchamber.com)
#fentonlindenregionalchamberofcommerce #Fenton #Linden
Looking forward to the Fenton Expo this Saturday (10-5) and Sunday (11-4) at the Fenton High School. Thanks to the Fenton Regional Chamber of Commerce for holding such a terrific event for our community. Special thanks to our friends at Image Projections for embroidering our sweaters! #fentonregionalchamberofcommerce #imageprojections
This week, Michigan property owners are all receiving a notice regarding their Property Taxes and Assessment. Our agents recently completed an exclusive class approved by the State of Michigan on this form and it’s impact on taxes both for the owner and the buyer – if it is sold. If you have questions, contact a Legacy Professional today! #LegacyRealty #MichiganRealEstate
We are proud to announce another exclusive Legacy Realty Course has been Certified by the State of Michigan for Continuing Education hours. This course on Property Taxation will help our agents to distinguish themselves from the competition and help our clients understand the “Pop Up” tax and how to estimate future tax obligations. Call one of our professionals to learn more.
Thanks to the Fenton Community & Cultural Center for allowing us to be the first company since the lock down began, to use their main room for our Continuing Education program next week. It is exciting to hold our class in such an iconic building!
We are so grateful for our agents and the ability to hold our own continuing education class this month. Thanks to Continuing Education Market Place for approving our unique program that is exclusively created for our Legacy Professionals!
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June 10, 2020 Market Update
Many of our clients and friends are wondering about how the real estate market is doing since we were released from the Stay at Home Executive order. Since our local real estate market is not necessarily the same as the regional or national market; we thought it would be helpful to provide you with regular statistical updates and analysis to help you make financial decisions for your family. Fenton, Lake Fenton, and Linden School districts current market conditions are…
Active Homes for Sale
There are currently 176 homes on the market with an average asking price of $411,000. The number of available homes is down 14 homes over last week.
Pending Home Sales
There are currently 179 pending home sales with an average asking price of $289,000. This number is up 19 homes from last week and the average asking price is up $4,000.
Year to Date Closed Home Sales
There have been 253 closed sales with an average sales price of $254,000. As anticipated, this is down significantly from the same period last year. There were 377 closed sales with an average sales price of $279,000 during the same time frame in 2019.
Market Analysis
Buyers are purchasing existing inventory faster than new homes are coming on the market. They currently have 14 fewer homes to look at in these three school districts than they did one week ago and 20 fewer than two weeks ago. Our pending sales mirror this trend with 19 more pending sales than one week ago. Homes in reasonable condition and priced appropriately often have multiple offers within days of hitting the market. Sales are down by 33% year over year, but gaining momentum. While the affordable end of the market is very competitive, the market over $500k continues to lag. Closed sales in that category are still down 60% year over year.
For those considering selling, now is an excellent time. In our ongoing effort to help you plan for the future, we will be watching the market carefully and keep you posted.
Please feel free to reach out to a Legacy Professional with any real estate questions you may have.
All data is from the East Central Association of Realtors
Legacy Realty
Professionals, Inc.
June 3rd Market Update
Many of our clients and friends are wondering about how the real estate market is doing since we were released from the Stay at Home Executive order. Since our local real estate market is not necessarily the same as the regional or national market; we thought it would be helpful to provide you with regular statistical updates and analysis to help you make financial decisions for your family. Fenton, Lake Fenton, and Linden School districts current market conditions are…
Active Homes for Sale
There are currently 190 homes on the market with an average asking price of $399,000. The number of available homes is down 6 homes over last week and prices are stable.
Pending Home Sales
There are currently 160 pending home sales with an average asking price of $285,000. This number is up 23 homes from last week and the average asking price is up $3,000.
Year to Date Closed Home Sales
There have been 235 closed sales with an average sales price of $255,000. This is down almost 40% from the same period last year. There were 388 closed sales with an average sales price of $262,000 during the same time frame in 2019.
Market Analysis
The demand for housing in our market remains very strong. The number of buyers in the affordable end – under $200k- exceeds sellers by a significant margin. Our firm has been involved in two situations in the past week where one home seller received 9 offers over the Memorial Day weekend and another received 12 offers for consideration. This is obviously a strong signal that consumers are confident about their employment and financial stability. Pending sales rose faster this week (23) than last (15). With active listing roughly the same level, we can tell that the majority of new homes hitting the market this week went under contract within their first week. It will be interesting to see if this pace continues now that the governor has further eased our restrictions and is now allowing all properties to be shown and open houses to be held.
For those considering selling, now is an excellent time. In our ongoing effort to help you plan for the future, we will be watching the market carefully and keep you posted.
Please feel free to reach out to a Legacy Professional with any real estate questions you may have.
All data is from the East Central Association of Realtors
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