So far 2023 has been the epitome of a sellers’ market. Like any good, the market is driven by supply and demand. Our very own Team Lead Matt Dakoske was recently quoted in an interview stating, “We can’t keep a home on the market,” he said, “They’re” selling in two weeks.” (Watson, 2023). Due to the lack of housing inventory in the region, we are seeing the prices of houses increasing and not lasting long on the market. It has not been uncommon lately for a home to go on the market Wednesday then be sold by Monday. Matt also shared in his interview that he believes the increase in home values are happening quickly in part due to the influx of out-of-state buyers we are currently seeing in our area. Since the onset of the pandemic in 2020 that number has steadily increased with the number of people working from home rising as well. With summer approaching, now is the perfect time to get your home market ready. More and more people want to own a piece of beautiful Northern Michigan, and of course who could blame them!
To read the full article including Matt’s interview, click the link below! (Matt is interviewed in the Greater Traverse City Section)
Michigan vacation home market stays hot amid tight inventory | Crain’s Grand Rapids Business (crainsgrandrapids.com)
Watson, R. (2023, May 1). Crain’s Grand Rapids Business . Retrieved from Michigan vacation homes market gearing up for another hot summer: https://www.crainsgrandrapids.com/news/real-estate/michigan-vacation-homes-market-gearing-up-for-another-hot-summer/