March 25, 2022
Gross sales of actual property in February languished behind these of previous years. There have been 148 gross sales of residential properties within the five-county space final month, the bottom quantity since February 2014. But the greenback quantity outstrips all earlier totals. The gross sales of $66,747,725 – a mean value of $450,998 – represents a dramatic enhance over the gross sales of 172 properties final yr for $59,799,211, a mean value of $347,669. Final yr’s February figures have been the earlier high-water marks for whole greenback quantity and common value, whereas the gross sales of 176 properties in February 2020 was the earlier document.
Grand Traverse County noticed gross sales drop to 78 models final month from 98 in 2021; Leelanau was all the way down to 18 from 23; Benzie and Kalkaska every noticed one fewer sale than the yr earlier, at 15 and 12 respectively. Solely Antrim noticed a acquire within the variety of properties offered, at 25 final month in comparison with 22 in February 2021. But Kalkaska County was the one one which noticed a lower in greenback quantity, all the way down to $1,789,800 from $2,322,705 in 2021. Consequently it was the one one which noticed a lower in common value, at $149,150 versus $178,669. On the different finish of the spectrum, the common value in Leelanau County jumped to $899,790 from $548,005.
The common variety of days a house is available on the market dropped considerably in every county, to a mean of 85 from 109. The most important change got here in Kalkaska County, which noticed a mean of 60 days available on the market. In February 2021, that quantity was 140.
