Edwin J. Campbell V, Real Estate One

10/26/2026

MARKET UPDATE

Northern Michigan | October 18–24

Single-family activity across Grand Traverse, Antrim, Leelanau, Benzie, and Kalkaska counties:

• 159 Active/New listings
• 32 Pending, Under Contract, or Contingent listings
• 40 closed sales
• $398,085 median sale price
• $19.6 million in sales volume
• 82 average days on market for homes sold
• 66.5 median days on market for homes sold

Closed sales by county:

• Grand Traverse: 20 | $435,425 median
• Antrim: 9 | $208,000 median
• Leelanau: 3 | $587,500 median
• Benzie: 3 | $700,000 median
• Kalkaska: 5 | $360,000 median

Vacant-land activity:

• 75 Active/New listings
• 8 Pending or Under Contract listings
• 13 closed sales
• $78,900 median sale price
• $1.60 million in sales volume
• 56 average days on market for properties sold
• 50 median days on market for properties sold

Single-family listing and contract activity increased from the previous week, while closings declined. Half of the week’s 40 home sales closed at or above asking price; half closed below. Active/New counts reflect the week’s listing activity, not the total number of properties available.

Three homes sold for $1 million or more, accounting for about 20% of sales volume, down from 46% the previous week. The mix of homes sold helped bring this week’s prices and volume lower. That doesn’t mean individual homes lost value by the same amount.

Land listing activity increased, while contracts and closings declined. Sales included a 20-acre parcel in Antrim County, and two 10-acre parcels went under contract in Kalkaska County. When comparing acreage, look beyond parcel size: access, utilities, soils, and permitted uses affect value.

The average 30-year fixed mortgage rate eased from 7.40% to 7.32% as of October 22. That offers modest payment relief. Compare lender quotes, closing costs, and loan terms before making an offer, and consider whether seller concessions could improve affordability.

Whether buying or selling, decisions should be based on comparable properties, current competition, financing, and the details of each specific property—not county averages alone.

Sources: Northern Great Lakes REALTORS® MLS/Paragon and Freddie Mac

Edwin J. Campbell V
REALTOR®, SRES®, RENE, RSPS, PSA
Professional guidance for Northern Michigan’s distinctive properties.

Call now to connect with business.

10/23/2026

A home’s price reflects more than its size, finishes, and location.

From land and materials to skilled labor and builder expenses, numerous factors contribute to the cost of new construction.

This breakdown illustrates how those costs might be distributed across a $1.428 million home. Actual costs vary by location, design, materials, and site conditions.

10/20/2026

As inventory increases and buyers gain leverage, interest rate buydowns merit greater consideration from sellers.

Instead of reducing the asking price, sellers may be able to offer concessions toward mortgage rate buydowns, potentially reducing buyers’ monthly payments and improving affordability.

For buyers and sellers alike, understanding these options can make a meaningful difference in the success of a transaction.

10/20/2026

Thoughtful improvements can enhance more than a home’s appearance—they can strengthen its functionality, marketability, and long-term value.

From waterfront amenities to four-season living spaces, certain features hold particular appeal in Northern Michigan’s distinctive real estate market.

The most worthwhile improvements are those that complement the property and the way people want to live.

10/19/2026

MARKET UPDATE

Northern Michigan | October 11–17

Single-family activity across Grand Traverse, Antrim, Leelanau, Benzie, and Kalkaska counties:

• 147 Active/New listings
• 29 Pending or Active Under Contract listings
• 50 closed sales
• $466,000 median closed price
• $32.4 million in sales volume
• 61 average days on market for closed sales
• 50 median days on market for closed sales

Closed sales by county:

• Grand Traverse: 28 | $466,000 median
• Antrim: 8 | $415,000 median
• Leelanau: 7 | $605,000 median
• Benzie: 5 | $320,000 median
• Kalkaska: 2 | $487,500 median

Vacant-land activity:

• 58 Active/New listings
• 11 Pending or Active Under Contract listings
• 15 closed sales
• $90,000 median closed price
• $3.55 million in sales volume

Single-family closings increased from the previous week, while Active/New and contract activity declined. Of the week’s 50 closings, 14 closed at or above asking price and 36 closed below asking. Active/New figures reflect weekly activity rather than total available inventory.

Nine sales at or above $1 million accounted for approximately 46% of single-family sales volume. Transaction mix continues to influence county medians, reinforcing the need to evaluate waterfront, resort, acreage, and other distinctive properties separately.

Vacant-land contract and closing activity increased. Closings included 53-acre and 22-acre parcels, while contract activity included 34-acre and 10-acre parcels. Access, utilities, soils, and permitted use remain central to evaluating acreage.

The average 30-year fixed mortgage rate held at 7.40% as of October 15. Stable weekly rates leave financing costs largely unchanged. Buyers should compare current lender quotes and evaluate closing costs, loan terms, and available concessions before structuring offers.

Pricing and acquisition decisions should be based on the property’s current competitive set, financing structure, and property-specific due diligence—not broad county averages alone.

Sources: Northern Great Lakes REALTORS® MLS/Paragon and Freddie Mac

Edwin J. Campbell V
REALTOR®, SRES®, RENE, RSPS, PSA
Professional guidance for Northern Michigan’s distinctive properties.

Call now to connect with business.

10/19/2026

Grateful for clients who place their trust in me.

10/14/2026

💯

10/13/2026

10/12/2026

MARKET UPDATE

Northern Michigan | October 4–10

Single-family activity across Grand Traverse, Antrim, Leelanau, Benzie, and Kalkaska counties:

• 152 Active/New listings
• 39 Pending or Active Under Contract listings
• 45 closed sales
• $565,000 median closed price
• $29.9 million in sales volume

Closed sales by county:

• Grand Traverse: 23 | $595,000 median
• Antrim: 8 | $343,750 median
• Leelanau: 5 | $565,000 median
• Benzie: 7 | $415,000 median
• Kalkaska: 2 | $287,500 median

Vacant-land activity:

• 63 Active/New listings
• 7 Pending or Active Under Contract listings
• 14 closed sales
• $81,000 median closed price
• $2.24 million in sales volume

Single-family contract activity increased from the previous week, while Active/New activity and closings declined. Of the week’s 45 closings, 22 closed at or above asking price and 23 closed below asking. Active/New figures reflect weekly activity rather than total available inventory.

Five sales at or above $1 million accounted for approximately 32% of single-family sales volume. Changes in transaction mix continue to influence county medians, reinforcing the need to evaluate waterfront, resort, acreage, and other distinctive properties separately.

Three vacant-land closings contained at least 10 acres. Contract activity also included 20-acre and 53-acre parcels, though acreage alone does not establish comparable value or usability.

The average 30-year fixed mortgage rate increased from 7.28% to 7.40% as of October 8. On a $400,000, 30-year loan, that increase adds approximately $33 per month in principal and interest. Buyers should refresh lender quotes and payment estimates before structuring offers.

Pricing and acquisition decisions should be based on the property’s current competitive set, financing structure, and property-specific due diligence—not broad county averages alone.

Sources: Northern Great Lakes REALTORS® MLS/Paragon and Freddie Mac

Edwin J. Campbell V
REALTOR®, SRES®, RENE, RSPS, PSA
Professional guidance for Northern Michigan’s distinctive properties.

Call now to connect with business.