Strong Northwest, Michigan Showings Indicate Sustained Demand
Despite inventory and affordability challenges, buyers remain vigilant in searching for their new home. In the past four weeks, overall showings across Michigan markets were up 19% compared to the same time last year. In the upper-end markets, the jump in activity is even greater—up 49% in the over-$750k market. In Northwest Michigan, 31% of May closed sales were above full asking price, while another 26% were full price (57% at or above full price). Despite the challenges, buyers continue to wait and compete for move-in ready homes.
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