Northern Michigan Market Conditions

Northern Michigan Market Conditions


Northern Michigan Housing Markets are a little slow with 58 sales, pending transactions also declined slightly. Historically it is mid February before we start to see the market pick up and this may be one of those years. The weather has not been friendly to real estate activity. Inventory supplies continue to contract offering a great opportunity for sellers to beat the spring rush by offering their property for sale now while competition is light.


Rates - are still good and generally still in the 4's HOWEVER rates are projected to push upwards this year as the economy strengthens!  Dont wait to buy rates will increase!


Have a great week and stay warm.....



Weekly Market Statistics


       01/13/2014 thru 01/19/2014

114 New Listings
58   Closed Sales
228 Pending 


Sales By Classification

42  Residential $20,000 to $538,500  Median $177,500 Mean $195,992

13  Vacant Land $18,500 to $725,000 Median $189,000 Mean $189,326

 3   Commercial $13 SF Lease to $170,000


Sales by Location

03 Antrim County

08 Benzie County

31 Grand Traverse County

06 Kalkaska County

10 Leelanau County

00 Wexford County


Expired Listings   52


Year over Year Comparison for Grand Traverse County on & off water homes


Off Water Homes All Values 

 Current Listings        512

 Sales                         01/13 to 01/14  1,096  01/12 to 01/13  1,031

 Average DOM            127 or 4.2 Months

 Value Direction          Up 10.8%

         Market Activity           Up 6.3%

 Inventory Supply        5.6 Months


Direct Water Homes All Values

 Current Listings       148

 Sales                        01/13 to 01/14  142  01/12 to 01/13  186

 Average DOM           193 or 6.4 Months

         Value Direction        Up 5.4%

         Market Activity         Down 23.7%

         Inventory Supply      12.5 Months  



Robert J. Reamer 

Real Estate Expert Since 1978

Certified General Appraiser


Phone:     231.649.0877

Fax:           231.333.5078




Real Estate Appraisal Services, Property Tax Appeal, Real Estate Consulting




Robert J Reamer | Real Estate Expert Since 1978 | 2678 Danbury Rd | Kingsley | MI | 49649