Northwest Michigan Housing Report Year End 2022
‘22 Annual All Property Types Summary
3,473
Listings
-8% from last year
2,751
Closed Sales
-18% from last year
$257
Price Per Sq. Ft.
+14% from last year
$467K
Avg. Sale Price
+12% from last year
$1.3B
Closed Volume
-9% from last year
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Featured Stories
2 minutes Waterfront • 2022 waterfront values were up 17% overall—7% for under-$500k, 15% for $500k-$1m, and 12% for over-$1m properties. • Although sales were down in all price ranges, the decline [...]
Northwest, Michigan Year-End Market Trends
< 1 minute Passing through the fourth quarter, both market times and the frequency of price reductions are rising but the across the various property types, the best listings continue to sell quickly—frequently [...]
2 minutes Last year’s lockdowns, work-from-home and virtual schooling had people hyperfocused on finding more space and bigger homes. In the third and fourth quarter as markets reopened, extreme buyer demand set [...]
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