Northern Michigan is roaring back from the recession, as 2013 saw record levels of real estate sold in the popular Grand Traverse tourist region.
In addition, several real estate agents “are having their best year ever,” according to Brad Zucco, owner of Appraisal North.
This area is popular with tourists due to the lakes, ski resorts, golf courses and many other recreational draws. The Traverse Area Association of Realtors includes Grand Traverse, Benzie, Leelanau, Antrim and Kalkaska counties.
Through November 2013, 2,658 units of residential real estate were sold in this area. This is 7.3 percent higher than last year, and 41 percent higher than 2010.
The average and median sale price of residential units in that area also rose 23 percent and 25 percent, according to information in the Traverse City Record Eagle.
Now is a great time to sell, as the improved market has caused inventory issues. Inventory is about half of what it was three years ago. It is also a good time to buy, as interest rates remain low.