The 2023 real estate figures charted below for Antrim County and Mancelona show that median home prices have stabilized and even declined slightly countywide, while total home sales show mixed results.
In addition, while homes are still selling quickly and for top dollar, the days on the market has increased slightly over the record year of 2022.
This stabilization is a relief for home buyers, as the median home sale prices in northern Michigan have jumped significantly in recent years. In fact, median home sale prices in Mancelona doubled from 2019-2022 and went up 60% in Antrim County over the same time period.
Antrim County Real Estate Sales 2023
Antrim County buyers will be happy to know that after several years of increases, the Antrim County median home sale price declined 5% in 2023 to $263,417.
In addition, the real estate inventory has improved 86% in Antrim County. Despite the winter season, there are 117 houses currently for sale in the county, compared to only 63 homes last year at this time.
The good news for both sellers and buyers is that Antrim County sales remained strong. Total sales for Antrim County homes are up 3% in 2023, to just over $263 million. There were 605 homes sold in Antrim County in 2023, which is up 6% over the record year of 2022.
Also, the average house in Antrim County still closes just 46 days after it is listed, which is 6 days longer than it took in the record year of 2022.
Mancelona Real Estate Sales 2023
This is a great time to sell in Mancelona, as the housing inventory continues to be a challenge. There are just 15 homes for sale in Mancelona Village and Township in January 2024, compared to 24 last year at this time.
The other good news for sellers is that the median home price in Mancelona is now $192,367. This median sales price has remained strong, up .3% from the record year of 2022. Also, the average house in Mancelona still closes much more quickly than it has in previous years. In 2023, it took just 51 days to close a sale after it was listed in Mancelona, which is 16 days longer than it took in the record year of 2022.
This inventory shortage in Mancelona caused a slight dip in total sales after the record year of 2022. There were 110 homes sold in Mancelona Township and Village in 2023, down 9% from Mancelona’s record year in 2022. Total residential sales in Mancelona were also down 9% to just over $22 million.
What Will 2023 Bring for Northern Michigan Home Sales?
Real estate brokers and agents are bracing for a challenging year in 2024.
Nationwide, sales and prices have started to fall due to higher interest rates and a slowdown of the economy. However, experts predict a continued migration to rural areas, including northern Michigan.
Home sales should remain strong across northern Michigan as people across the country continue to flee from cities to rural areas.
Contact Us Now
What does all this mean to you?
Continued high prices and lower days on the market means that now is a great time to list your home, despite the winter! It is also a great time to start thinking about listing in the spring. DEK Realty agents would love to come out and give you a complementary market analysis to show you the value of your home, and help you strategize for the sale of your home.
It is also an excellent time to buy a home, as the prices have stabilized. There are more choices across Antrim County, as inventory has started to increase.
If you have any questions about buying or selling real estate in northern Michigan, call us today at 231-587-1012, or email dekrealty@gmail.com. We promise there will be no pressure.
Note: Statistics for both Mancelona and Antrim County sales include Mancelona, Bellaire, Elk Rapids, Alden, Kewadin, and other towns. This data was compiled from three different Boards of Realtors: Water Wonderland, which is based out of Gaylord; Antrim-Charlevoix-Kalkaska; and Aspire North, located in Traverse City. Homes in Mancelona are found on all three MLS’s.
