Michigan Home Sales Continue Slide Versus 2017 Prices Up

October homes sales in the five-county region show a slide continuing as compared to strong sales last year, as the number of units decreased in each county versus October a year ago. Only Antrim County came close to matching last year’s results. This year’s 34 home sales in Antrim County actually produced a greater dollar volume than 2017’s 35 sales, $5,270,000 to $4,715,500. All told, there were 320 home sales in October this year and 365 in 2017. The average price also decreased, at $270,893 this year and $289,097 in 2017, though the median price this year of $219,500 compares favorably with the 2017 figure of $212,500.

The figures for October 2018 do outstrip years previous, however. Going back to 2011, just as the recovery from the recession was beginning, only 188 homes were sold in the five-county area in October. Homes were on the market an average of 266 days, and nearly a year in Antrim County, which saw an average of 339 days on the market. By 2017 that figure had dropped to an average of 119 days, and October 2018 homes were on the market an average of 93 days. In Grand Traverse County, homes averaged 80 days on the market last month, 108 in October 2017 and back in 2011, 166 days.

High-end sales also saw a slide. There were nine home sales of $750,000 and up last month, while there were 20 such sales in October 2017. In fact, in sales of homes $300,000 and up, there were 86 sales this year, and last year that same segment found 108 homes sold.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *

Time limit is exhausted. Please reload the CAPTCHA.