Petoskey - August Market Update

How is the Petoskey real estate market doing?  I shared some statistics back in June and forecasted strong home sales for the summer.  In the two months since that post, agents have been scrambling for listings to meet the demand in certain price ranges.  Downtown Petoskey homes have seen a surge in sales.  Keep up to date with the latest real estate in the Petoskey neighborhoods by using this custom search for our area.

A total of 86 homes have sold in the Petoskey school district in since the middle of June.  Compared to last year's 63 in the same date range, we're looking at a significant increase in home sales.  The average sale price has increased from $261,485 to $324,449.  

Just like we saw in the statistics for June and predicted for the summer, the amount of time homes are sitting on the market has decreased significantly - by about a month on average.  

Although we are coming into back-to-school season, the market is still strong and buyers are still looking for homes.  Buyers that lost out in a bidding war or two are more than ready to win a home that fits their needs.  It's a great time to list your home - email me at bill.winslow@cbgreatlakes.com for tips on getting your home ready for sale yet this summer.

Bill Winslow

Bill Winslow

Associate Broker, Manager
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