Traverse City News and Events

Local Real Estate Sales Reverse Trend

March 15, 2019

Reversing a trend from the past several months, real estate sales for February 2019 for the five-county area slightly bettered those from the same month a year ago. A total of 165 residential sales is the high-water mark for the month of February going back as far as 2009. The 85 sales in Grand Traverse County is down slightly from last year’s figure of 91, but right in line with 2017 (86), 2016 (83), and 2015 (81). Leelanau saw sales increase from 17 in 2018 to 22 in February in 2019, while Benzie saw the largest increase, from 10 in 2018 to 24 this year, making it the highest sales level for any February, again dating back to 2009.
 
As might be expected, the dollar volume is also the highest it’s been, at $41,785,904 overall, up from $38,274,545 in February 2018. The average and median prices also outstripped last year and all years previous. In Antrim County, the average dropped to $152,791 for February 2019 from the previous year’s $309,684. Interestingly, the average number of days a property was on the market averaged out one day higher overall, at 144 compared with 143 a year ago. The individual counties saw a greater disparity: Leelanau went to 158 DOM from 118 in February 2018, and Benzie went to 172 DOM for this February vs. 112 a year ago. The only county that saw a decrease was Kalkaska, where a property was on the market an average of 116 days this year as opposed to 152 last year.

Comment

Eleven St. Patrick's Day Events in Northern Michigan

Read More >>

TCAPS Trustees to Vote on $17.2 Million Fieldhouse Project

Read More >>

A Big Impact: Ten Years In At TC's Women-Powered Philanthropy Group

Read More >>

Northern Michigan Oil and Gas Industry Down, But Not Out

Read More >>

End of Season Happenings at Hickory, Holiday

Read More >>

Concerns Mount Over Jail Conditions; Facilities Study Moves Forward

Read More >>

Groundwork Center Announces New CEO

Read More >>

Proposed Zoning Overlay Would More Closely Regulate Building Heights, Trees, Land Uses Near Airport

Read More >>

Traffic Signal Installation Starting Soon at TC State Park

Read More >>

Two Proposals Emerge for Bijou: Performance Venue & Wellness Center

Read More >>

Renowned Chef Pete Peterson Dies at 82

Read More >>

City Delays Bijou, Carnegie RFP Reviews Until April

Read More >>

Groundwork: First Look at Passenger Rail Survey Results

Read More >>

Crooked Tree & TADL Submit Dueling Proposals for Carnegie Building

Read More >>