After a strong summer run, Northwest Michigan is closing out the fall season with continued momentum across nearly every segment. October activity softened slightly month-over-month, which is normal for this time of year, but year-to-date results show meaningful gains in both sales and values throughout the region.
Sales Activity
Across the six-county region, YTD sales are up across most property types, led by an 8% increase in both waterfront and non-waterfront single-family sales. Condos held steady with flat sales, though continued to post modest value gains. The market remains supported by buyer demand that’s been steadier this year than last, particularly for homes offering updated condition and good proximity to lakes, towns, and recreation.
Prices & Values
- Average sale prices rose across the board, though at a more sustainable pace than the double-digit jumps of recent years.
- Waterfront values are up 1% with $/SF up 4%, landing just under $1.19M YTD.
- Non-waterfront homes are up 4% in average price and showing similar $/SF growth.
- Condos posted a 2% YTD price increase, even as sales volumes stabilized after climbing in 2023–24.
This pattern aligns with what we see statewide: demand remains healthy, but buyers are more price-sensitive and selective than they were during the post-pandemic peak.
Inventory & New Listings
One of the biggest stories continues to be inventory. Both waterfront and non-waterfront segments saw substantial listing growth—up 22% and 8% YTD—giving buyers a larger pool of options heading into the slower winter stretch. Condo listings, however, declined sharply (-22%), helping hold values firm despite flat sales.
Looking Ahead
The fall cooldown is seasonal rather than market-driven. With more listings entering the system and steady buyer activity—including second-home and retirement driven demand—NW Michigan is positioned to begin 2026 with more balanced conditions than we’ve seen in several years. Price trends have normalized but remain positive, and the increased inventory should help support a smoother early-spring market once activity picks back up.
