Statistics from Aspire North Realtors show the frenetic pace of real estate could be slowing a bit, though property values remain high. Residential sales in the five-county area for January dropped slightly from January 2021, though the entire slowdown came outside Grand Traverse County. Prices continue to escalate, however; the overall sales of 176 homes last month for the five counties served by Aspire North totaled $71,345,892, or an average price of $405,374. Last year’s January sales came in at 184 units for $59,186,872, or an average of $321,667.

There were 101 home sales in Grand Traverse County last month, for a total of $40,280,635, resulting in an average sale of $398,818. That compares with 87 sales in January 2021 for $28,924,793, or an average price of $328,541.

Sales in Leelanau dropped to 20 last month from 28 the previous January, though the average sale price increased to $735,697 from $416,406 in January 2021. Sales in Benzie, Antrim and Kalkaska Counties dropped by three, eight and three units respectively, though as with Leelanau, the average price typically increased; only Kalkaska County saw a downturn in sales volume, dropping to $3,117,957 from $4213,850 last year. Likewise its average price went down to $194,872 from $221,781.

The number of individual sales still represents a strong market, as they come in near or above the totals for the last five January sales figures. The average of 80 days on the market is also significantly lower than all previous such monthly averages for January, dating back to 2017.