Boyne City Real Estate - 2006 Market Statistics
Boyne City residential real estate sales volume plummeted in 2006 from the prior year, as did both the median and average home price. Unit sales of homes and condominiums in the Boyne City School District declined almost 20%, from 137 units in 2005 to 110 units in 2006. Sales by dollar volume decreased to $26,201,917 in 2006, from $36,906,222 in 2005, a whopping decline of almost 30%.
The median Boyne City home price dropped significantly in 2006 to $127,750, from $163,900 in the prior year. The average home price declined by 12%, from $269,388 in 2005 to $238,199 in 2006. Of those homes which did sell, the average days on market (DOM) increased significantly, from 149 DOM in 2005 to 200 DOM in 2006.
Note: Based on information obtained from the Northern Michigan Multiple Listing Service for the period from January 1, 2005 - December 31, 2006.
The median Boyne City home price dropped significantly in 2006 to $127,750, from $163,900 in the prior year. The average home price declined by 12%, from $269,388 in 2005 to $238,199 in 2006. Of those homes which did sell, the average days on market (DOM) increased significantly, from 149 DOM in 2005 to 200 DOM in 2006.
Note: Based on information obtained from the Northern Michigan Multiple Listing Service for the period from January 1, 2005 - December 31, 2006.
Labels: Boyne City, market statistics
posted by Stefan J. Scholl, J.D. - Exclusive Buyer Agent at 3/01/2007 02:53:00 PM
3 Comments:
Stefan, what's your opinion/prognosis for the Sommerset Point in Advance? We're told he's going to Eveline Twp. board for approval on putting up the first three units this Spring, but at $600K+ a pop, will the market support?
This project appears to be moving forward. I'm not sure what the market will support right now, but long-term, I feel that Lake Charlevoix is one of the finest boating lakes in the World, which will make these units with boat slip access very desirable.
I love Lake Char-le-voix. The Red Fox Regatta ROCKS!
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