Real Estate Market Update for Reed City, MI
Welcome to December's Market Update. Let’s take a look at residential real-estate activity in your area during the month of November. The number of active listings was down 34% from one year earlier, and down 14% from the previous month. This smaller inventory means that buyers who waited to buy may have had a smaller selection to choose from. As you can see, the median listing price for the month was just over 90-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 58%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just over 50-thousand dollars. The number of units sold was consistent year-over-year, and decreased 62% month-over-month. Fewer sales could indicate an opportunity for buyers to negotiate better terms. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
Show Transcript
Map Information for Reed City, MI
Area Information for Reed City, MI
  • Population: 2,322
  • Median Age: 38.03 yr
  • Median Commute Time: 19 mins
  • Educational Climate*: 3
  • Sales Tax: 6%
  • Population Density: 1,124/sq mi
  • Population Change Since 2000: -3.95%
  • Closest Airport: Cherry Capital
  • Closest College: Ferris State University
  • Closest Jr. College: Montcalm Community College
  • Median Household Income: $25,996
  • Annual Residential Turnover: 0%
  • Median Home Sales Price: $0
  • Closest Major Sports Team: West Michigan Whitecaps (a)
  • Change Avg. Household Income Since 2000: -4.53%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for Reed City, MI
Median Age: 38.03 Married: 29% Number of Households: 965 Households with Children: 293
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for Reed City, MI

      School Name Distance Type Grades School Rating Parent Rating
      G.t. Norman Elementary School 2.2 mi Public K-5 1 0
      Reed City High School 2.4 mi Public 9-12 1 4
      Reed City Middle School 2.4 mi Public 6-8 1 0
      Trinity Lutheran School 2.7 mi Private PRESCHOOL-8 0 0
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: Onboard Informatics © 2016. School Performance data by SchoolDigger.com. School Review data by Niche.com.
      Local Weather for Reed City, MI
        Community information and market data Powered by Onboard Informatics. Copyright ©2016 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.