As we move into the fourth quarter, it’s normal to see sales activity ease and new listings taper off. What’s different this year is that inventory has climbed higher than we’ve seen in quite some time.
Inventory
As of September 30th, NW 6-County inventory was up 13% compared to a year go and 43% compared to 2023. New listings have been arriving faster than homes are selling, giving buyers more options heading into fall.
Showings Tell the Story
Showings — an early signal of buyer demand — have slipped to around two showings per month in Grand Traverse and Leelanau Counties. ShowingTime state-wide average is six. We’re also seeing market times of September new pendings stretch to around 70 days and nearly 37% of active listings taking a price reduction before going under contract. These are clear signs that the market is slowly shifting toward a more traditional Northwest Michigan rhythm.
What This Means for Agents and Clients
Despite the cooling pace, the market remains healthy. Nearly 40% of September’s sales still closed at or above list price — proof that well-priced, well-prepared homes are drawing strong offers. For sellers, it’s more important than ever to focus on presentation and pricing right from the start. The days of “testing” the market with higher list prices are gone. For buyers, this shift brings a bit more breathing room — more choices, less competition, and opportunities to negotiate, especially as we move deeper into fall and winter.
