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Northwest Michigan Housing Report April 2023

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5-County Combined Summary

Waterfront, Non-Waterfront, Condo

239

Mar. New Listings
+44% from last month

142

New Pendings
+29% from last month

189

Closed Sales
+50% from last month

$255

Price Per SQ FT
+2% from last month

$443K

Avg. Sale Price
-2% from last month

Property Type

Property Type		Jan ’23	Feb ’23	Mar ’23	YTD ’23 vs. ’21	YTD ’23 vs. ’22
All Combined	Sales	106	126	189	21%	-16%
	Avg. Price	$399,489	$450,491	$442,574	30%	-2%
Waterfront	Sales	14	20	28	7%	-13%
	Avg. Price	$803,743	$948,932	$802,714	41%	-10%
Non-Waterfront	Sales	80	86	122	35%	-9%
	Avg. Price	$341,825	$374,527	$382,714	23%	-2%
Condo	Sales	12	20	39	-7%	-35%
	Avg. Price	$312,283	$278,695	$371,269	50%	8%

Price Range

Price Range		Jan ’23	Feb ’23	Mar ’23	YTD ’23 vs. ’21	YTD ’23 vs. ’22
All Combined	Sales	106	126	189	21%	-16%
	$/SF	$216	$250	$255	33%	1%
	Avg. Price	$399,489	$450,491	$442,574	30%	-2%
<$350k	Sales	55	63	91	-12%	-29%
	$/SF	$154	$181	$181	21%	2%
$350k-$700k	Sales	42	47	70	85%	19%
	$/SF	$221	$229	$251	22%	7%
>$700k	Sales	9	16	28	121%	-24%
	$/SF	$370	$388	$369	24%	-2%

5-County Waterfront Summary

47

Mar. New Listings
+88% from last month

17

New Pendings
+21% from last month

28

Closed Sales
+40% from last month

$367

Price Per SQ FT
-2% from last month

$803K

Avg. Sale Price
-15% from last month

All Price Ranges

All

	Jan ’23	Feb ’23	Mar ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	32	25	47	96	104	8%
New Pendings	19	14	17	72	50	-31%
Closed Sales	14	20	28	71	62	-13%
Price/SF	$312	$374	$367	$378	$356	-6%
Avg Price	$803,743	$948,932	$802,714	$942,349	$850,114	-10%

<$500k

	Jan ’23	Feb ’23	Mar ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	12	7	14	28	33	18%
New Pendings	10	2	7	23	19	-17%
Closed Sales	4	10	12	24	26	8%
Price/SF	$192	$194	$221	$192	$206	7%

$500k to $1m

	Jan ’23	Feb ’23	Mar ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	6	4	12	31	22	-29%
New Pendings	5	7	5	29	17	-41%
Closed Sales	6	4	8	22	18	-18%
Price/SF	$257	$232	$331	$318	$281	-12%

>$1m

	Jan ’23	Feb ’23	Mar ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	14	14	21	37	49	32%
New Pendings	4	5	5	20	14	-30%
Closed Sales	4	6	8	25	18	-28%
Price/SF	$429	$589	$511	$491	$521	6%

5-County Non-Waterfront Summary

141

Mar. New Listings
-55% from last month

87

New Pendings
+14% from last month

122

Closed Sales
+42% from last month

$214

Price Per SQ FT
+4% from last month

$383K

Avg. Sale Price
+2% from last month

Monthly Activity

All

	Jan ’23	Feb ’23	Mar ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	120	91	141	358	352	-2%
New Pendings	102	76	87	330	265	-20%
Closed Sales	80	86	122	318	288	-9%
Price/SF	$188	$206	$214	$198	$204	3%
Avg. Price	$341,825	$374,527	$382,714	$377,704	$368,911	-2%

<$300k

	Jan ’23	Feb ’23	Mar ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	40	30	44	169	114	-33%
New Pendings	35	34	32	163	101	-38%
Closed Sales	35	33	44	150	112	-25%
Price/SF	$130	$155	$156	$150	$147	-2%

$300k to $600k

	Jan ’23	Feb ’23	Mar ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	67	41	71	144	179	24%
New Pendings	60	31	42	127	133	5%
Closed Sales	40	44	61	124	145	17%
Price/SF	$208	$218	$219	$192	$216	12%

>$600k

	Jan ’23	Feb ’23	Mar ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	13	20	26	45	59	31%
New Pendings	7	11	13	40	31	-23%
Closed Sales	5	9	17	44	31	-30%
Price/SF	$258	$247	$265	$267	$258	-3%

Condo Summary

51

Mar. New Listings
+2% from last month

38

New Pendings
+90% from last month

39

Closed Sales
+95% from last month

$297

Price Per SQ FT
+4% from last month

$371K

Avg. Sale Price
+33% from last month

Monthly Activity

All

	Jan ’23	Feb ’23	Mar ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	43	50	51	150	144	-4%
New Pendings	22	20	38	124	80	-35%
Closed Sales	12	20	39	110	71	-35%
Price/SF	$253	$287	$297	$250	$287	15%
Avg. Price	$312,283	$278,695	$371,269	$311,270	$335,223	8%

<$250k

	Jan ’23	Feb ’23	Mar ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	20	8	11	37	39	5%
New Pendings	13	11	8	38	32	-16%
Closed Sales	5	11	12	41	28	-32%
Price/SF	$188	$253	$199	$142	$216	52%

$250k to $500k

	Jan ’23	Feb ’23	Mar ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	18	21	28	77	67	-13%
New Pendings	9	8	22	65	39	-40%
Closed Sales	6	8	20	54	34	-37%
Price/SF	$306	$304	$328	$282	$318	13%

>$500k

	Jan ’23	Feb ’23	Mar ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	5	21	12	36	38	6%
New Pendings	-	1	8	21	9	-57%
Closed Sales	1	1	7	15	9	-40%
Price/SF	$251	$389	$327	$361	$321	-11%

Reports by Area

Antrim County

Benzie County

Grand Traverse County

Kalkaska County

Leelanau County

Wexford County

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