Michigan Real Estate Trends Strong in March

Homes Selling Quicker and for Higher Prices

The total real estate sold in the Five County area of Michigan (including: Grand Traverse, Leelanau, Benzie, Antrim, and Kalkaska) was up in March 2017 over March 2016.

Total sold volume was $59,968,571 this month, versus $48,044,073 a year ago. The total number of single family homes increased from 212 in March 2016, to 237 this year.

The trend was up in value per house as the median sold house was $199,000 this year versus $185,500 last year. Average sales price had an even greater variation from $253,031 versus last year of $226,622.

In addition, the average days on the market this year were 140 days versus 161 days for March of last year. This continues the decline from 2015, when the average number of days on the market was 186.