Year-end totals from the Northern Michigan Multiple Listing Service show residential sales for last year were down from 2022 for the five-county area. That’s true for both units sold (2,538 compared to 2,771) and overall sales volume ($1,275,846,444 vs. $1,293,892,900). But guess what was up to a new record high? The average sales price of a home, which reached $502,697, significantly higher than the prior year’s record high of $466,940.
 
That continues the trend from last year, as both 2023 and 2022 lagged behind the number of homes sold the previous three years, though the average price steadily increased. Sales from 2019-2021 were all in excess of 3,370, with the 3,455 in 2020 topping the list.
 
December’s figures mirror that trend, though individual counties varied greatly. Leelanau, Antrim and Kalkaska were up in homes sold compared to December 2022, Grand Traverse was basically steady, and only Benzie dropped significantly. But in terms of average sales, Grand Traverse, Antrim and Benzie were far higher than December 2022 while Leelanau dipped. Benzie’s average price was within $1,000 of last December.
 
The $86,449,861 five-county total topped the $71,223,205 of December 2022, but was far behind the record of $138,058,618 of December 2021. Similarly, the 189 sales was more than December 2022’s total of 175, but 2021 topped them both at 333. The average sale price for last month of $457,406 was more than any previous December figure.