Housing Supply Overview

Now that 2011 is fully in the books, it's important to discern which market segments performed well and which encountered additional challenges.This not only sheds light on consumer behavior, but also provides a preliminary look at what 2012 might have in store. For the 12-month period spanning January 2011 through December 2011, Closed Sales in the Great Lakes region were up 5.6 percent overall. The price range with the largest gain in sales was the $150,000 and Below range, where they increased 9.2 percent.

The overall Median Sales Price was down 3.5 percent to $139,000. The property type with the smallest price decline was the Water Access/River segment, where prices decreased 3.2 percent to $158,000. The price range that tended to sell the quickest was the $150,000 and Below range at 16.  $400,001 and Above range at 24.   Market-wide, inventory levels were down 17.6 percent. The property type that lost the least inventory was the Privately-Owned Waterfront segment, where it decreased 10.4 percent. 



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