Blog > Housing Report > Northwest Michigan > Northwest Michigan Housing Report April 2023

Northwest Michigan Housing Report April 2023

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5-County Combined Summary

Waterfront, Non-Waterfront, Condo

239

Mar. New Listings
+44% from last month

142

New Pendings
+29% from last month

189

Closed Sales
+50% from last month

$255

Price Per SQ FT
+2% from last month

$443K

Avg. Sale Price
-2% from last month

NW Closed Sales By Property Type

Property Type

Property TypeJan ’23Feb ’23Mar ’23YTD ’23 vs. ’21YTD ’23 vs. ’22
All CombinedSales10612618921%-16%
Avg. Price$399,489$450,491$442,57430%-2%
WaterfrontSales1420287%-13%
Avg. Price$803,743$948,932$802,71441%-10%
Non-WaterfrontSales808612235%-9%
Avg. Price$341,825$374,527$382,71423%-2%
CondoSales122039-7%-35%
Avg. Price$312,283$278,695$371,26950%8%

Price Range

Price RangeJan ’23Feb ’23Mar ’23YTD ’23 vs. ’21YTD ’23 vs. ’22
All CombinedSales10612618921%-16%
$/SF$216$250$25533%1%
Avg. Price$399,489$450,491$442,57430%-2%
<$350kSales556391-12%-29%
$/SF$154$181$18121%2%
$350k-$700kSales42477085%19%
$/SF$221$229$25122%7%
>$700kSales91628121%-24%
$/SF$370$388$36924%-2%

5-County Waterfront Summary

47

Mar. New Listings
+88% from last month

17

New Pendings
+21% from last month

28

Closed Sales
+40% from last month

$367

Price Per SQ FT
-2% from last month

$803K

Avg. Sale Price
-15% from last month

All Price Ranges

All

Jan ’23Feb ’23Mar ’23YTD ’22YTD ’23YTD (+/-)
Listings Taken322547961048%
New Pendings1914177250-31%
Closed Sales1420287162-13%
Price/SF$312$374$367$378$356-6%
Avg Price$803,743$948,932$802,714$942,349$850,114-10%

<$500k

Jan ’23Feb ’23Mar ’23YTD ’22YTD ’23YTD (+/-)
Listings Taken12714283318%
New Pendings10272319-17%
Closed Sales4101224268%
Price/SF$192$194$221$192$2067%

$500k to $1m

Jan ’23Feb ’23Mar ’23YTD ’22YTD ’23YTD (+/-)
Listings Taken64123122-29%
New Pendings5752917-41%
Closed Sales6482218-18%
Price/SF$257$232$331$318$281-12%

>$1m

Jan ’23Feb ’23Mar ’23YTD ’22YTD ’23YTD (+/-)
Listings Taken141421374932%
New Pendings4552014-30%
Closed Sales4682518-28%
Price/SF$429$589$511$491$5216%

5-County Non-Waterfront Summary

141

Mar. New Listings
-55% from last month

87

New Pendings
+14% from last month

122

Closed Sales
+42% from last month

$214

Price Per SQ FT
+4% from last month

$383K

Avg. Sale Price
+2% from last month

Monthly Activity

All

Jan ’23Feb ’23Mar ’23YTD ’22YTD ’23YTD (+/-)
Listings Taken12091141358352-2%
New Pendings1027687330265-20%
Closed Sales8086122318288-9%
Price/SF$188$206$214$198$2043%
Avg. Price$341,825$374,527$382,714$377,704$368,911-2%

<$300k

Jan ’23Feb ’23Mar ’23YTD ’22YTD ’23YTD (+/-)
Listings Taken403044169114-33%
New Pendings353432163101-38%
Closed Sales353344150112-25%
Price/SF$130$155$156$150$147-2%

$300k to $600k

Jan ’23Feb ’23Mar ’23YTD ’22YTD ’23YTD (+/-)
Listings Taken67417114417924%
New Pendings6031421271335%
Closed Sales40446112414517%
Price/SF$208$218$219$192$21612%

>$600k

Jan ’23Feb ’23Mar ’23YTD ’22YTD ’23YTD (+/-)
Listings Taken132026455931%
New Pendings711134031-23%
Closed Sales59174431-30%
Price/SF$258$247$265$267$258-3%

Condo Summary

51

Mar. New Listings
+2% from last month

38

New Pendings
+90% from last month

39

Closed Sales
+95% from last month

$297

Price Per SQ FT
+4% from last month

$371K

Avg. Sale Price
+33% from last month

Monthly Activity

All

Jan ’23Feb ’23Mar ’23YTD ’22YTD ’23YTD (+/-)
Listings Taken435051150144-4%
New Pendings22203812480-35%
Closed Sales12203911071-35%
Price/SF$253$287$297$250$28715%
Avg. Price$312,283$278,695$371,269$311,270$335,2238%

<$250k

Jan ’23Feb ’23Mar ’23YTD ’22YTD ’23YTD (+/-)
Listings Taken2081137395%
New Pendings131183832-16%
Closed Sales511124128-32%
Price/SF$188$253$199$142$21652%

$250k to $500k

Jan ’23Feb ’23Mar ’23YTD ’22YTD ’23YTD (+/-)
Listings Taken1821287767-13%
New Pendings98226539-40%
Closed Sales68205434-37%
Price/SF$306$304$328$282$31813%

>$500k

Jan ’23Feb ’23Mar ’23YTD ’22YTD ’23YTD (+/-)
Listings Taken5211236386%
New Pendings-18219-57%
Closed Sales117159-40%
Price/SF$251$389$327$361$321-11%

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