Northern Michigan Communities Report Strong Residential Sale Trends

Median prices for residential real estate sales increased in Charlevoix, Otsego, Cheboygan and Emmet counties. The number of residential transactions also increased in three of those counties. The quick rebound in sales once pandemic restrictions eased is due to low supply and high demand and buyers’ desires to relocate to smaller communities. This trend could cause issues if it continues as working-class families may find themselves priced out of the housing market in Northern Michigan.