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Northwest Michigan Housing Report July 2023

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5-County Combined Summary

Waterfront, Non-Waterfront, Condo

442

June New Listings
+21% from last month

187

New Pendings
-17% from last month

239

Closed Sales
+6% from last month

$286

Price Per SQ FT
+12% from last month

$528K

Avg. Sale Price
+11% from last month

Property Type

Property Type		Apr ’23	May ’23	June ’23	YTD ’23 vs. ’21	YTD ’23 vs. ’22
All Combined	Sales	149	226	239	-29%	-13%
	Avg. Price	$516,629	$477,895	$528,382	21%	4%
Waterfront	Sales	32	43	41	-38%	-11%
	Avg. Price	$849,128	$815,866	$1,167,125	22%	3%
Non-Waterfront	Sales	92	149	144	-20%	-10%
	Avg. Price	$441,543	$409,575	$395,378	23%	2%
Condo	Sales	25	34	54	-45%	-23%
	Avg. Price	$367,350	$349,861	$398,087	34%	6%

Price Range

Price Range		Apr ’23	May ’23	Jun ’23	YTD ’23 vs. ’21	YTD ’23 vs. ’22
All Combined	Sales	149	226	239	-29%	-13%
	$/SF	$264	$255	$286	22%	3%
	Avg. Price	$516,629	$477,895	$528,382	21%	4%
<$350k	Sales	52	102	104	-48%	-21%
	$/SF	$180	$181	$181	15%	1%
$350k-$700k	Sales	72	83	89	1%	-5%
	$/SF	$255	$237	$236	14%	1%
>$700k	Sales	25	41	46	2%	-2%
	$/SF	$348	$360	$461	10%	1%

5-County Waterfront Summary

96

June New Listings
+13% from last month

41

New Pendings
+24% from last month

41

Closed Sales
-5% from last month

$463

Price Per SQ FT
+29% from last month

$1.2M

+43% from last month

All Price Ranges

All

	Apr ’23	May ’23	June ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	50	85	96	389	336	-14%
New Pendings	48	33	41	221	182	-18%
Closed Sales	32	43	41	199	178	-11%
Price/SF	$346	$359	$463	$378	$380	1%
Avg Price	$849,128	$815,866	$1,167,125	$882,144	$913,014	3%

<$500k

	Apr ’23	May ’23	June ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	12	24	26	130	96	-26%
New Pendings	19	13	9	87	62	-29%
Closed Sales	12	1+	12	71	66	-7%
Price/SF	$244	$261	$196	$199	$224	12%

$500k to $1m

	Apr ’23	May ’23	June ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	20	26	26	118	95	-19%
New Pendings	14	13	15	73	63	-14%
Closed Sales	12	15	13	71	59	-17%
Price/SF	$301	$317	$378	$331	$313	-5%

>$1m

	Apr ’23	May ’23	June ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	18	35	44	141	145	3%
New Pendings	15	7	17	61	57	-7%
Closed Sales	8	12	16	57	53	-7%
Price/SF	$465	$449	$588	$518	$518	0%

5-County Non-Waterfront Summary

283

June New Listings
+34% from last month

115

-20% from last month

144

-3% from last month

$219

Price Per SQ FT
even with last month

$395K

-3% from last month

Monthly Activity

All

	Apr ’23	May ’23	June ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	176	211	283	1,093	1,023	-6%
New Pendings	126	144	115	807	688	-15%
Closed Sales	92	149	144	750	675	-10%
Price/SF	$225	$219	$219	$203	$213	5%
Avg. Price	$441,543	$409,575	$395,378	$385,638	$393,584	2%

<$300k

	Apr ’23	May ’23	June ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	53	75	76	434	321	-26%
New Pendings	44	61	38	367	259	-29%
Closed Sales	23	58	53	300	246	-18%
Price/SF	$139	$148	$158	$154	$149	-4%

$300k to $600k

	Apr ’23	May ’23	Jun ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	79	88	155	503	500	-1%
New Pendings	58	65	60	355	330	-7%
Closed Sales	51	61	65	355	324	-9%
Price/SF	$237	$219	$218	$205	$219	7%

>$600k

	Apr ’23	May ’23	June ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	44	48	52	156	202	29%
New Pendings	24	18	17	85	99	16%
Closed Sales	18	30	26	95	105	11%
Price/SF	$254	$279	$273	$258	$268	4%

Condo Summary

63

-9% from last month

31

New Pendings
-35% from last month

54

Closed Sales
+59% from last month

$277

Price Per SQ FT
+9% from last month

$398K

Avg. Sale Price
+14% from last month

Monthly Activity

All

	Apr ’23	May ’23	June ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	51	69	63	339	327	-4%
New Pendings	28	48	31	274	194	-29%
Closed Sales	25	34	54	242	186	-23%
Price/SF	$280	$254	$277	$276	$277	0%
Avg. Price	$367,350	$349,861	$398,087	$342,153	$361,927	6%

<$250k

	Apr ’23	May ’23	June ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	7	16	12	86	74	-14%
New Pendings	6	14	10	81	64	-21%
Closed Sales	7	8	15	75	59	-21%
Price/SF	$195	$159	$174	$147	$194	32%

$250k to $500k

	Apr ’23	May ’23	June ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	29	32	34	178	162	-9%
New Pendings	16	24	12	142	93	-35%
Closed Sales	14	20	24	125	92	-26%
Price/SF	$267	$286	$277	$296	$291	-2%

>$500k

	Apr ’23	May ’23	June ’23	YTD ’22	YTD ’23	YTD (+/-)
Listings Taken	15	21	17	75	91	21%
New Pendings	6	10	9	51	37	-27%
Closed Sales	4	6	15	42	35	-17%
Price/SF	$381	$261	$332	$394	$321	-18%

Reports by Area

Antrim County

Benzie County

Grand Traverse County

Kalkaska County

Leelanau County

Wexford County

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