Northwest Michigan Housing Report February 2025
NW 6-County Combined Summary
Waterfront, Non-Waterfront, Condo
267
Jan New Listings
+65% from last month
177
New Pendings
-1% from last month
142
Closed Sales
-26% from last month
$296
Price Per Sq. Ft.
+14% from last month
$587K
Avg. Sale Price
+23% from last month
| Property Type | Nov ’24 | Dec ’24 | Jan ’25 | YTD ’24 vs. ’22 | YTD ’24 vs. ’23 | |
| All Combined | Sales | 220 | 192 | 142 | 7% | -5% |
| Avg Price | $515,652 | $477,312 | $586,639 | 64% | 22% | |
| Waterfront | Sales | 37 | 31 | 24 | 33% | -11% |
| Avg Price | $1,007,822 | $952,408 | $1,535,692 | 123% | 41% | |
| Non-Waterfront | Sales | 148 | 144 | 98 | -4% | -7% |
| Avg Price | $416,987 | $387,616 | $398,954 | 30% | 15% | |
| Condo | Sales | 35 | 17 | 20 | 54% | 11% |
| Avg Price | $412,572 | $370,738 | $367,432 | 22% | 3% |
| Price Range | Nov ’24 | Dec ’24 | Jan ’25 | YTD ’24 vs. ’22 | YTD ’24 vs. ’23 | |
| All Combined | Sales | 220 | 192 | 142 | 7% | -5% |
| $/SF | $272 | $260 | $296 | 50% | 11% | |
| Avg Price | $515,652 | $477,312 | $586,639 | 64% | 22% | |
| <$350k | Sales | 92 | 91 | 71 | -11% | -11% |
| $/SF | $184 | $188 | $176 | 28% | 4% | |
| $350k-$700k | Sales | 86 | 71 | 46 | 5% | -6% |
| $/SF | $243 | $233 | $236 | 7% | 2% | |
| >$700k | Sales | 42 | 30 | 25 | 178% | 19% |
| $/SF | $392 | $405 | $478 | 29% | -5% |
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