Traverse City News and Events

January Home Sales Off To Solid Start

Feb. 14, 2024

Real estate sales are off to a solid start in January. Results from the first month of the year show 146 homes sales for the month, compared to 116 one year ago. There were 80 sales in Grand Traverse compared to 54 in January 2023, and sales were also up in Leelanau (23 vs. 15) and Benzie (10 to 8). Sales were down slightly in both Antrim and Kalkaska Counties. Overall sales volume for the month was $75,360,366 in the five-county region, producing an average price of $516,166, compared with $45,527,309 and $392,476 one year ago.

The number of homes sold still lags behind the three years prior, with 176 in 2022, 184 in 2021 and 190 in January 2022, 2021 and 2020 respectively. Prices continue to climb as seen by the fact the average sale price in January 2024 was the highest ever.

On the average, homes sold at 97 percent of listing price. The average 80 days a home was on the market for last month is also the smallest to date; both those results point to the market’s continuing desirability.

County by county results show a mix. Both the average and median prices were up in Grand Traverse, Leelanau and Kalkaska, setting record highs in each. The average sale for Benzie was down slightly from January 2023 and roughly even with 2022; all three were higher than years previous. Average prices for home sales in Antrim were similar across the last three years.

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