The Lake Life in Northwest Michigan

By
Real Estate Agent with Lake Life Real Estate

The Grand Traverse region is primarily Grand Traverse, Leelanau, Benzie and Antrim Counties. Home to many wonderful lake front homes; buyers looking to purchase will find it’s an investment worth making. This region offers year-round activities for families as well as vacation get-a-ways. Lake front homes in the Grand Traverse Region has become a haven for great values on lake front homes.

 

Lake homes in the Grand Traverse region are homes on Lake Michigan and many inland lakes – Torch Lake, Long Lake, Elk Lake, Lake Leelanau (North & South), Glen Lakes (North & South), Crystal Lake, etc. And in the previous six months, 72 lake front homes were sold, after being on the market for an average of 176-days. The typical list price was approximately $607,896.00 and sold within 3% of the asking price ($592,148.00). During the same period, a square foot sold price was generally $283.50.

 

Since 2014, in the Grand Traverse region in the same period, the number of lake front homes available to purchase – according to the Multiple Listing Service (MLS) – have dropped 7%. With the fewer available homes to purchase, supply & demand dictates an increase of the appreciation values; the average sold price for lake front homes in 2014 was $471,937.

 

With high demand and low supply of listed homes, these lake front homes are selling faster as well. Homes sold in 2014 sold after being on the MLS for 184-days. Today, the Days on Market (DOM) has dropped 4%. These trends will be expected to continue over the foreseeable future.

 

Understanding the market conditions, values of each home, and the location is paramount when selecting your Up-North get-a-way. In a five-year period, home values have rose 20%, DOM has decreased by 4%, and available homes to purchase has significantly decreased by 7%. To learn more about our team, check us out at www.LakeLifeRealEstate.com or contact Ben Williams today!

 

Next Week: All Active Lake Front Homes

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Home Selling
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Michigan Grand Traverse County Traverse City
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lake homes

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Rainmaker
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Gwen Fowler-CRS- 864-638-3599 SC Mountains & Lakes--
Gwen Fowler Real Estate, Inc - Salem, SC
Gwen Fowler Real Estate, Inc.

Beautiful views! Thank you for sharing. Now I understand why my receptionist says our lake country reminds her of Michigan + Mountains. 

Aug 14, 2018 09:25 AM #1
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Rainer
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Ben Williams

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