Emmet county, Harbor Springs real estate market seeing sales & price gains

A recent article published by the Harbor Light newspaper offers some reassuring news previously blogged about this year. Property values are slowly increasing leaving time for buyers to enter the market, and the number of sales are increasing as well. The largest problem facing the local real estate market currently is a lacking supply of good quality properties that are competitively priced. Some key stats from the article:

Emmet County Sales:

  • 609 residential sales in 2013
  • 576 residential sales in 2012
  • Average sales price= $273,616 in 2013
  • Average sales price= $231,857 in 2012
  • Median sales price= $168,000 in 2013
  • Median sales price= $153000 in 2012

Harbor Springs School District Sales:

  • 221 residential sales in 2013
  • 182 residential sales in 2012
  • Average sales price= $251,597 in 2013
  • Average sales price= $282,791 in 2012
  • Median sales price= $189,000 in 2013
  • Median sales price= $202,500 in 2012

Petoskey School District Sales:

  • 304 residential sales in 2013
  • 293 residential sales in 2012
  • Average sales price= $333,784 in 2013
  • Average sales price= $246,651 2012
  • Median sales price= $171,000 in 2013
  • Median sales price= $156,000 in 2012

Crooked Lake:

  • 15 active listings, 7 sales in 2012
  • 18 active listings, 10 sales in 2013

Burt Lake:

  • 53 active listings, 23 sales in 2012
  • 64 active listings, 37 sales in 2013

According to area agents the vacation home/resort market has also seen increased activity in recent months along with first time home buyer interest.

As always if you need help selling, buying, or renting your property give me a call, or send me an email. I'm here to help.

Jared Hammond

Jared Hammond

Real Estate Associate & Property Manager
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