Traverse City News and Events

What Crisis? Traverse City's Real Estate Market Continues Boom

Dec. 12, 2020

November real estate sales continued the trend of outstripping past years. Sales for four of the five counties served by the Traverse Area Association of Realtors increased in both the number of homes sold and the dollar volume. Overall, there were 350 homes sold for $136,638,838. That compares with last year’s previous high of 289 for $91,939,560. In November 2016, the five counties also combined for 289 sales, for a sales total of $72,474,381.

Grand Traverse County accounted for 182 of the sales last month, totaling $70,262,302, for an average sales price of $386,056. Leelanau and Antrim Counties both bested that average, reporting $563,985 and $389,073, respectively. Only Benzie County saw a drop; though its total of 26 homes sold lagged behind the November unit sales for the previous four years, Benzie’s average sale price of $313,122 topped all previous records, as its dollar volume for last month was $8,141,185.

The number of days a home is on the market also continues to drop, from 119 last year to 110 in November 2020. That number was largely reflective of the 182 homes sold in Grand Traverse County, which dropped from 109 in November 2019 to 79 last month. The only other county to show a drop was Benzie, which declined from 136 in November 2019 to 105 in November 2020.

Comment

Fifty Days To Go: A Preview Of The National Cherry Festival's 100-Year Milestone

Read More >>

New TC State Park Signal Activated to Flash Mode

Read More >>

Join Us For a Picnic in the Piazza Summer Kickoff Recess!

Read More >>

Cadillac Man Killed in GT County Crash

Read More >>

Downtown Businesses on the Move, Plus More Retail & Restaurant News

Read More >>

TCAPS To Rename Traverse City Central High School Track Facility In Honor Of Longtime Coach John Lober

Read More >>

Garfield Township to Consider Apartment Complex, Food Truck Ordinance, Wireless Tower

Read More >>

NMC Breaking Ground This Week On Geothermal Project

Read More >>

Ashley Ochoa's Bringing Nutrition, Comfort To Cancer Patients

Read More >>

Signs Of Life: Inside TCAPS' First Year Of Enrollment Growth Since 2019

Read More >>

GT County Updates: Building Projects, Crisis Center, Treasurer’s Office

Read More >>

City Commissioners to Tackle New Budget, Shared Agreements, Deputy City Manager’s Departure

Read More >>

Munson Healthcare Hospitals Earn Top “A” Safety Grades from Leapfrog Group

Read More >>

National Parks at the Center of Debate Over How to Tell America's Story

Read More >>