Edwin J. Campbell, Real Estate One

Edwin J. Campbell, Real Estate One Professional guidance for Northern Michigan’s distinctive real estate.

MARKET UPDATENorthern Michigan | August 23–29Single-family activity across Grand Traverse, Antrim, Leelanau, Benzie, and...
08/31/2026

MARKET UPDATE

Northern Michigan | August 23–29

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

• 207 Active/New listings
• 34 Pending or Active Under Contract listings
• 46 closed sales
• $445,000 median closed price
• $27 million in sales volume

Closed sales by county:

• Grand Traverse: 22 | $497,500 median
• Antrim: 8 | $332,500 median
• Leelanau: 4 | $469,750 median
• Benzie: 6 | $636,875 median
• Kalkaska: 6 | $255,000 median

Active/New listing activity substantially exceeded new contract activity. This is a seven-day flow measure—not a total inventory count—but it indicates greater competition among sellers entering the late-summer market.

Of the week’s 46 closings, 22 met or exceeded asking price and 24 closed below asking. Five sales above $1 million accounted for nearly 32% of total volume, reinforcing the need to separate luxury, waterfront, resort, and other distinctive homes from conventional market averages.

The average 30-year fixed mortgage rate was largely unchanged at 6.66% as of August 27.

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
Real Estate One®
Professional guidance for Northern Michigan’s distinctive homes.

WEEKLY MARKET UPDATENorthern Michigan’s residential market remained active from August 16–22, although conditions contin...
08/24/2026

WEEKLY MARKET UPDATE

Northern Michigan’s residential market remained active from August 16–22, although conditions continued to vary considerably by county and property type.

Across Grand Traverse, Leelanau, Benzie, Antrim, and Kalkaska counties:

• 194 properties entered or returned to Active/New status
• 31 moved into Pending or Active Under Contract status
• 56 single-family homes closed
• The median closed price was $505,750
• Total sales volume reached approximately $41.7 million

Closed sales and median sale prices:

• Grand Traverse: 23 sales | $501,500
• Antrim: 8 sales | $601,000
• Leelanau: 11 sales | $849,000
• Benzie: 9 sales | $450,000
• Kalkaska: 5 sales | $349,000

Takeaway: New and newly active inventory substantially exceeded under-contract activity during the week, giving buyers more choices as the late-summer market progresses. However, half of the week’s closings still finished at or above asking price, demonstrating that well-positioned properties continue to attract strong demand.

Luxury transactions also had an outsized effect on the numbers. Eleven properties sold for $1 million or more, representing approximately 20% of closings but nearly half of total sales volume. Waterfront, acreage, resort, and distinctive properties should therefore be evaluated using property-specific comparisons rather than broad averages alone.

Mortgage rates declined slightly, with the average 30-year fixed rate reaching 6.65% as of August 20. For buyers, comparing lenders and structuring offers carefully remain important. For sellers, accurate pricing, strong presentation, and targeted marketing are essential as buyers gain additional choices.

If you’re interested in buying or selling in Northern Michigan, I’d be happy to help you understand what these conditions mean for your specific property or goals.

Sources: NGLRMLS and Freddie Mac

Edwin J. Campbell V
Real Estate One®
(231) 463-5085
[email protected]

COMING SOON40 acres of beautiful vacant land on Phelps Road NE in Kalkaska County. Almost entirely flat and largely clea...
08/20/2026

COMING SOON

40 acres of beautiful vacant land on Phelps Road NE in Kalkaska County. Almost entirely flat and largely cleared, with a mix of hardwoods—including elm and maple—and some pine. Maples offer potential for tapping.

Abundant wildlife and deer activity make the property especially appealing for hunting and outdoor recreation, with additional state land nearby.

From the ground up…
08/20/2026

From the ground up…

08/18/2026

The REALTORS® Confidence Index shows buyer and seller traffic expectations eased from the previous month. First-time buyers made up 29% of purchases, flat from one year ago. Homes continued to receive multiple offers, with 19% selling above list price. Contract closings remained steady at 30 days, ...

MARKET UPDATENorthern Michigan’s residential market remained strong in July, although conditions varied considerably by ...
08/17/2026

MARKET UPDATE

Northern Michigan’s residential market remained strong in July, although conditions varied considerably by county and property type.

Across Grand Traverse, Leelanau, Benzie, Antrim, and Kalkaska counties:

• 304 single-family homes sold
• The median sale price reached $451,687
• Total sales volume increased nearly 24%
• Average market time was 70 days

Median sale prices and average days on market:

• Grand Traverse: $462,500 | 61 days
• Leelanau: $675,000 | 73 days
• Benzie: $432,500 | 50 days
• Antrim: $370,000 | 101 days
• Kalkaska: $246,000 | 86 days

Takeaway: Northern Michigan property values remain strong, but this is not one uniform market. Waterfront, acreage, resort, and distinctive properties often follow different timelines from conventional homes—even within the same county.

Mortgage rates also remained relatively stable, with the average 30-year fixed rate at 6.67% as of August 13. For buyers, that makes thoughtful financing and property-specific due diligence especially important. For sellers, accurate pricing, strong presentation, and targeted marketing remain essential.

If you’re interested in buying or selling in Northern Michigan, I’ll gladly help you understand what these conditions mean for your specific property or goals.

Sources: Aspire North REALTORS® and Freddie Mac

Edwin J. Campbell V
Real Estate One®
(231) 463-5085
[email protected]

08/14/2026

The Parks & Rec Commission is accepting donations for these legendary "Keep Elk Rapids Beautiful" trash can lids for $25. Stop by their tent at the last Evening on River Street this Wednesday, August 12th, to grab yours and own a piece of Elk Rapids history! All proceeds benefit the Parks & Rec Commission!

08/14/2026

We're hiring!
- Full Time Year Round Work
- Health Insurance
- PTO and Holiday Pay
- $500 signing bonus!

Come join one of Northern Michigan's fastest growing construction companies!👷‍♂️
Send us a message or call 231-222-5840 📞

Address

515 E Cayuga Street
Bellaire, MI
49615

Telephone

+12314635085

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