Northwest Michigan Housing Report November 2022
5 County Condo Summary
43
Oct. New Listings
-26% from last month
48
New Pendings
+7% from last month
49
Closed Sales
Even with last month
$388K
Avg. Sale Price
+16% from last month
$284
Price Per Sq. Ft.
+10% from last month
Monthly Activity
All
| Aug | Sep | Oct | YTD ’21 | YTD ’22 | YTD (+/-) | |
| Closed Sales | 54 | 49 | 49 | 542 | 452 | -17% |
| New Pendings | 50 | 45 | 48 | 559 | 472 | -16% |
| New Listings | 59 | 58 | 43 | 628 | 573 | -9% |
| Price/SF | $289 | $257 | $284 | $210 | $280 | 33% |
| Avg Price | $354,382 | $335,105 | $388,388 | $293,432 | $354,878 | 21% |
<300k
| Aug | Sep | Oct | YTD ’21 | YTD ’22 | YTD (+/-) | |
| Closed Sales | 21 | 27 | 29 | 364 | 206 | -43% |
| New Pendings | 24 | 25 | 26 | 358 | 206 | -42% |
| New Listings | 24 | 33 | 24 | 366 | 237 | -35% |
| Price/SF | $183 | $172 | $196 | $156 | $186 | 19% |
$300k to $600k
| Aug | Sep | Oct | YTD ’21 | YTD ’22 | YTD (+/-) | |
| Closed Sales | 29 | 17 | 13 | 133 | 199 | 50% |
| New Pendings | 23 | 13 | 17 | 153 | 223 | 46% |
| New Listings | 30 | 21 | 16 | 181 | 262 | 45% |
| Price/SF | $330 | $253 | $260 | $239 | $311 | 30% |
>$600k
| Aug | Sep | Oct | YTD ’21 | YTD ’22 | YTD (+/-) | |
| Closed Sales | 4 | 5 | 7 | 45 | 47 | 4% |
| New Pendings | 3 | 7 | 5 | 48 | 43 | -10% |
| New Listings | 5 | 4 | 3 | 81 | 74 | -9% |
| Price/SF | $399 | $576 | $465 | $369 | $411 | 11% |
5-County Waterfront Summary
52
Oct. New Listings
-21% from last month
41
New Pendings
-47% from last month
56
Closed Sales
-25% from last month
$287M
YTD Closed Volume
-11% from last year
$370
Price Per Sq. Ft.
-16% from last month
Monthly Activity
All
| Aug | Sep | Oct | YTD ’21 | YTD ’22 | YTD (+/-) | |
| Closed Sales | 65 | 75 | 56 | 558 | 454 | -19% |
| New Pendings | 60 | 78 | 41 | 581 | 469 | -19% |
| New Listings | 90 | 66 | 52 | 744 | 687 | -8% |
| Price/SF | $423 | $442 | $370 | $340 | $395 | 16% |
| Avg Price | $955,359 | $984,846 | $785,220 | $788,773 | $890,857 | 13% |
<$500k
| Aug | Sep | Oct | YTD ’21 | YTD ’22 | YTD (+/-) | |
| Close Sales | 22 | 32 | 23 | 222 | 169 | -24% |
| New Pendings | 22 | 31 | 22 | 250 | 185 | -26% |
| New Listings | 29 | 24 | 17 | 282 | 230 | -18% |
| Price/SF | $233 | $228 | $204 | $202 | $213 | 5% |
$500k to $1m
| Aug | Sep | Oct | YTD ’21 | YTD ’22 | YTD (+/-) | |
| Closed Sales | 24 | 15 | 21 | 208 | 155 | -25% |
| New Pendings | 18 | 23 | 11 | 207 | 153 | -26% |
| New Listings | 25 | 21 | 14 | 260 | 214 | -18% |
| Price/SF | $436 | $370 | $325 | $312 | $349 | 12% |
>$1m
| Aug | Sep | Oct | YTD ’21 | YTD ’22 | YTD (+/-) | |
| Closed Sales | 19 | 28 | 12 | 128 | 130 | 2% |
| New Pendings | 20 | 24 | 8 | 124 | 131 | 6% |
| New Listings | 36 | 21 | 21 | 202 | 243 | 20% |
| Price/SF | $504 | $567 | $591 | $472 | $536 | 14% |
5-County Non-Waterfront Summary
162
Oct. New Listings
-11% from last month
139
New Pendings
-17% from last month
163
Closed Sales
-15% from last month
$372K
Avg. Sale Price
-5% from last month
$201
Price Per Sq. Ft.
-2% from last month
Monthly Activity
All
| Aug | Sep | Oct | YTD ’21 | YTD ’22 | YTD (+/-) | |
| Closed Sales | 180 | 191 | 163 | 1,682 | 1,463 | -13% |
| New Pendings | 199 | 150 | 139 | 1,763 | 1,457 | -17% |
| New Listings | 247 | 182 | 162 | 2,078 | 7,930 | -7% |
| Price/SF | $215 | $205 | $201 | $180 | $204 | 13% |
| Avg Price | $391,632 | $391,390 | $372,463 | $332,169 | $382,219 | 15% |
<$350k
| Aug | Sep | Oct | YTD ’21 | YTD ’22 | YTD (+/-) | |
| Closed Sales | 88 | 100 | 90 | 1,087 | 798 | -27% |
| New Pendings | 104 | 82 | 80 | 1,178 | 832 | -29% |
| New Listings | 128 | 89 | 92 | 1,327 | 1,010 | -24% |
| Price/SF | $171 | $171 | $161 | $155 | $168 | 9% |
$350k to $750k
| Aug | Sep | Oct | YTD ’21 | YTD ’22 | YTD (+/-) | |
| Closed Sales | 84 | 78 | 65 | 532 | 581 | 9% |
| New Pendings | 84 | 59 | 51 | 518 | 544 | 5% |
| New Listings | 97 | 79 | 56 | 631 | 764 | 21% |
| Price/SF | $233 | $213 | $218 | $198 | $216 | 9% |
>$750k
| Aug | Sep | Oct | YTD ’21 | YTD ’22 | YTD (+/-) | |
| Closed Sales | 8 | 13 | 8 | 63 | 84 | 33% |
| New Pendings | 11 | 9 | 8 | 67 | 81 | 21% |
| New Listings | 22 | 14 | 14 | 120 | 156 | 30% |
| Price/SF | $296 | $273 | $288 | $262 | $279 | 6% |
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