Petoskey Real Estate Sales 1st Half 2008

Petoskey residential real estate sales volume actually increased year over year in the first half of 2008, from 106 unit sales of homes and condos in the first half of 2007 to 120 unit sales in the first half of 2008.

In addition to a 13% increase in unit volume, the dollar volume of 1st half residential sales in the Petoskey School District increased significantly from $34,064,331 in 2007 to $47,001,605 in 2008, an increase of almost 38%.

The average sale price for a Petoskey home during the first half of 2008 was $391,680, compared to $318,358 during the first half of 2007, while the median sales price decreased slightly, from $183,000 in 2007 to $180,500 in 2008. Days on the market for those properties which sold during the first half of the year increased significantly, from 179 days on market in 2007 to 277 days on market in 2008.

Happy 4th of July!

It looks like we will have Chamber of Commerce weather here in Northern Michigan for the 4th of July! What a great day to go to a parade, barbeque with family and friends, watch the fireworks and celebrate America's 232nd birthday. Happy 4th of July everyone!