The Northwest Michigan (NW) housing market remains steady overall, though summer momentum has begun to cool. Through August, total sales volumes are mixed, with strength in core non-waterfront homes balancing softer results in waterfront and condo segments.
General Market Signals
Overall sales activity was uneven in late summer, with June and July posting strong year-over-year gains, but August sales slipped compared to 2024. Prices remain firm, with non-waterfront sales leading the way. Even where sales declined, average prices stayed positive or only dipped slightly, underscoring ongoing demand. Seasonality plays a larger role in NW Michigan than in Southeast or Washtenaw, and the late-summer slowdown is consistent with historic patterns. Expect activity to taper into fall, with most of the year’s sales already locked in.
By Property Type
Different buyer pools are creating diverging YTD results:
Waterfront Homes: Sales held steady (+1%), but average prices declined 7%. Higher-end buyers remain selective, and limited prime inventory has made results more volatile.
Non-Waterfront Homes: The engine of the region — sales rose 7% and prices climbed 6%, showing broad-based demand from local and seasonal buyers alike.
Condos: Sales declined (–8%), but prices still rose 3%, reflecting both fewer listings and stronger demand for the best units.
