Local property sales more than double year over year

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June 26, 2021

Home sales in May increased in each of the five counties served by Aspire North (formerly the Traverse Area Association of Realtors, or TAAR), compared with results released last May. The largest single pickup truck was in Grand Traverse County, where 134 homes were sold last month for a total of $ 54,066,467, up from 65 in May 2020 at $ 18,591,570. Total sales in the region – 267 – also more than doubled from last May to 116, while US dollar volume totaled $ 111,074,623, up from $ 33,386,670 in May last year.

Of course, last year’s performance was heavily influenced by the shutdown, which lasted from late March to early May. Thus, the May 2019 totals are perhaps the best comparison. In May 2019, there were a total of 309 sales, with 173 sales registered in Grand Traverse County, both of which exceeded last month’s totals. However, even with smaller sales, dollar sales soared this year, rising more than $ 18 million to $ 111,074,623 from $ 92,691,994 in May 2019.

The median selling price correspondingly rose from $ 299,974 in May 2019 to $ 416,009 last month. The median selling price rose sharply in each of the five counties from 2019 to 2021, nearly $ 200,000 in Benzie County ($ 285,852 in 2019, $ 263,333 in 2020, $ 482,390 in 2021) and nearly doubled in Kalkaska County ($ 140,404 in 2019, $ 190,816 in 2020 and $ 208,226 last month). The average number of days on the market also shows how hot the market is at the moment: it was 66 last month, up from 104 in May last year and 106 in May 2019.


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