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Northwest Michigan Housing Report November 2022

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5 County Condo Summary

43

Oct. New Listings
-26% from last month

48

New Pendings
+7% from last month

49

Closed Sales
Even with last month

$388K

Avg. Sale Price
+16% from last month

$284

Price Per Sq. Ft.
+10% from last month

Monthly Activity

All

AugSepOctYTD ’21YTD ’22YTD (+/-)
Closed Sales544949542452-17%
New Pendings504548559472-16%
New Listings595843628573-9%
Price/SF$289$257$284$210$28033%
Avg Price$354,382$335,105$388,388$293,432$354,87821%

<300k

AugSepOctYTD ’21YTD ’22YTD (+/-)
Closed Sales212729364206-43%
New Pendings242526358206-42%
New Listings243324366237-35%
Price/SF$183$172$196$156$18619%

$300k to $600k

AugSepOctYTD ’21YTD ’22YTD (+/-)
Closed Sales29171313319950%
New Pendings23131715322346%
New Listings30211618126245%
Price/SF$330$253$260$239$31130%

>$600k

AugSepOctYTD ’21YTD ’22YTD (+/-)
Closed Sales45745474%
New Pendings3754843-10%
New Listings5438174-9%
Price/SF$399$576$465$369$41111%

 

5-County Waterfront Summary

52

Oct. New Listings
-21% from last month

41

New Pendings
-47% from last month

56

Closed Sales
-25% from last month

$287M

YTD Closed Volume
-11% from last year

$370

Price Per Sq. Ft.
-16% from last month

Monthly Activity

All

AugSepOctYTD ’21YTD ’22YTD (+/-)
Closed Sales657556558454-19%
New Pendings607841581469-19%
New Listings906652744687-8%
Price/SF$423$442$370$340$39516%
Avg Price$955,359$984,846$785,220$788,773$890,85713%

<$500k

AugSepOctYTD ’21YTD ’22YTD (+/-)
Close Sales223223222169-24%
New Pendings223122250185-26%
New Listings292417282230-18%
Price/SF$233$228$204$202$2135%

$500k to $1m

AugSepOctYTD ’21YTD ’22YTD (+/-)
Closed Sales241521208155-25%
New Pendings182311207153-26%
New Listings252114260214-18%
Price/SF$436$370$325$312$34912%

>$1m

AugSepOctYTD ’21YTD ’22YTD (+/-)
Closed Sales1928121281302%
New Pendings202481241316%
New Listings36212120224320%
Price/SF$504$567$591$472$53614%

5-County Non-Waterfront Summary

162

Oct. New Listings
-11% from last month

139

New Pendings
-17% from last month

163

Closed Sales
-15% from last month

$372K

Avg. Sale Price
-5% from last month

$201

Price Per Sq. Ft.
-2% from last month

Monthly Activity

All

AugSepOctYTD ’21YTD ’22YTD (+/-)
Closed Sales1801911631,6821,463-13%
New Pendings1991501391,7631,457-17%
New Listings2471821622,0787,930-7%
Price/SF$215$205$201$180$20413%
Avg Price$391,632$391,390$372,463$332,169$382,21915%

<$350k

AugSepOctYTD ’21YTD ’22YTD (+/-)
Closed Sales88100901,087798-27%
New Pendings10482801,178832-29%
New Listings12889921,3271,010-24%
Price/SF$171$171$161$155$1689%

$350k to $750k

AugSepOctYTD ’21YTD ’22YTD (+/-)
Closed Sales8478655325819%
New Pendings8459515185445%
New Listings97795663176421%
Price/SF$233$213$218$198$2169%

>$750k

AugSepOctYTD ’21YTD ’22YTD (+/-)
Closed Sales8138638433%
New Pendings1198678121%
New Listings22141412015630%
Price/SF$296$273$288$262$2796%

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