Michigan’s NW market runs with a later cycle than the rest of the state. While downstate sales and prices will peak around June, closed sales and prices in the NW market will peak in August and September. The listing, showing and new contract activity that leads to those closed sales takes place thirty to forty-five days before closings, so we expect that activity to peak in July or August.
Condos: New construction will continue to expand the condo market. One-third (108) of the 336 condos that are either active or pending are new construction units built in 2023 or 2024. A growing percentage are site condos.
