January Real Estate Sales Mixed

Feb. 17, 2021

After a year in which the pandemic shut the industry down before it came roaring back, January’s residential real estate sales showed overall results similar to those of a year ago. There were 184 homes sold last month in the five-county area, compared with 190 in January 2020, 138 in January 2019, 154 in 2018, 171 in 2017 and 186 in 2016. The total sales of $59,186,872 bested the figure of $51,200,735 from last year, which was the previous high for the month; the average of $321,667 topped the January 2020 average of $269,477.

Looking at the five counties individually shows mixed results. Sales in Grand Traverse County actually declined slightly, from 105 in January 2020 to 87 last month. The dollar volume was similarly impacted, from $31,172,651 to $28,924,793. In contrast, Leelanau home sales jumped from 19 in January 2020 to 28 last month, and the dollar volume more than doubled, from $5,555,084 in January 2020 to $11,659,390 last month. Both figures lag behind January 2019, which also saw 28 homes sold for $16,039,650.

Both Kalkaska and Benzie were down slightly in terms of homes sold and dollar volume, though increasing prices saw the average sale price increase. Sales in Antrim County leaped from 20 sales to 33 last month, with its dollar volume nearly doubling as a result. Its average sale price jumped from $277,615 to $336,115.