Northwest Michigan Housing Report January 2025

Dec New Listings
-30% from last month
New Pendings
-33% from last month
Closed Sales
-13% from last month
Price Per Sq. Ft.
-5% from last month
Avg. Sale Price
-7% from last month
Property Type | Oct ’24 | Nov ’24 | Dec ’24 | YTD ’24 vs. ’22 | YTD ’24 vs. ’23 | |
All Combined | Sales | 255 | 220 | 191 | -13% | -4% |
Avg Price | $538,997 | $515,652 | $478,764 | 18% | 9% | |
Waterfront | Sales | 47 | 37 | 31 | -10% | -2% |
Avg Price | $963,977 | $1,007,822 | $952,408 | 22% | 12% | |
Non-Waterfront | Sales | 178 | 148 | 143 | -13% | -5% |
Avg Price | $454,206 | $416,987 | $388,928 | 16% | 7% | |
Condo | Sales | 30 | 35 | 17 | -15% | -2% |
Avg Price | $376,287 | $412,572 | $370,738 | 14% | 7% |
Price Range | Oct ’24 | Nov ’24 | Dec ’24 | YTD ’24 vs. ’22 | YTD ’24 vs. ’23 | |
All Combined | Sales | 255 | 220 | 191 | -13% | -4% |
$/SF | $294 | $272 | $260 | 15% | 8% | |
Avg Price | $538,997 | $515,652 | $478,764 | 18% | 9% | |
<$350k | Sales | 100 | 92 | 90 | -30% | -13% |
$/SF | $193 | $184 | $188 | 11% | 7% | |
$350k-$700k | Sales | 97 | 86 | 71 | 0% | -1% |
$/SF | $232 | $243 | $234 | 4% | 2% | |
>$700k | Sales | 58 | 42 | 30 | 28% | 18% |
$/SF | $448 | $392 | $405 | 5% | 3% |
Tight Supply Continues to Limit Sales in Washtenaw County
2 minutes While inventory is expected to slowly rise in 2025, January begins with fewer listings than last year. Shortages of quality listings will continue to restrict sales. Inventory continues to impact [...]
Tight Supply Continues to Limit Sales in Southeast Michigan
2 minutes While inventory is expected to slowly rise in 2025, January begins with fewer listings than last year. Shortages of quality listings will continue to restrict sales. Inventory continues to impact [...]
Condos and Fractional Ownership in Northwest Michigan
2 minutes Current Condo Inventory January 21, 2025 Northern Great Lakes Realtors Active “Condos” 253 • Actual Condos 178 • Fractional Ownership 75 30% of current MLS condo inventory is fractional ownership [...]