Northwest Michigan Housing Report July 2023
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
NW Closed Sales By Property Type
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% |
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