Traverse City News and Events

Local Real Estate Market Shows Continued Strength

Sept. 10, 2019

Real estate sales continue to be strong, as August’s totals kept pace with or outstripped last August. Overall figures show 396 residential sales at $129,790,866, where last year’s August totals were 384 sales for $110,338,794. The greatest gain was in Antrim County, with 66 sales totaling $20,085,520, compared with 43 a year ago for $12,069,200. Each of the other counties showed more in dollars even if they had fewer unit sales, with the exception of Kalkaska County, which totaled 31 residential sales at $5,051,363; last August it had 35 sales totaling $5,689,799. Even so, its average increased from $162,565 in August 2018 to $162,947 last month. Overall, the average sale in August this year was $327,754; last year’s average price was over $40,000 less at $287,340.
 
One place there was a disparity from county to county and year to year was the average number of days a home was on the market before being sold. In Grand Traverse County it dropped from 94 for August 2018 to 87 this year; Benzie saw an increase from 113 last August to 139 this year. Overall the average only changed by one day, 101 last year to 102 this year.
 
All the numbers, from average price to median, total dollar amount to days on market, show strength compared to years past. It was only six years ago that there were fewer than 300 units sold in August. Three years ago, in August 2016, the total dollar volume was below $100 million.

Comment

TCAPS Trustees Talk Central High Reconstruction, Board Changes

Read More >>

Mama Lu's Concept to Remain on Front, Owners to Open Happy Cat on Union Street

Read More >>

Texas Man Arrested for Interlochen ATM Robbery

Read More >>

TC Phil Musicians Vote to Unionize

Read More >>

County to Vote on Purchasing PACE North Building, Expanding Court Use of Opioid Funds

Read More >>

Two Teens Apprehended for Damaging, Robbing Construction Sites

Read More >>

Increasing Behavioral Health Needs, Disjointed Services, Facility Layout Flagged in Jail Planning

Read More >>

The Watershed Center Sees Progress in Burnette Foods Lawsuit

Read More >>

What's Next For Interlochen Abuse Investigations?

Read More >>

Mall Businesses on the Move, Mill District Plans Take Shape, More Retail/Restaurant News

Read More >>

Great Lakes Maritime Leaders Grapple With Federal Waivers, Nationwide 'Uncertainty'

Read More >>

(Over)Supply And Demand? Local Rental Storage Market Sags

Read More >>

2026 Primary Election Results

Read More >>

Shorts to Host First Event at "Short's Landing" on Aug. 15

Read More >>