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Michigan’s 2017 real estate sales prices jumped up 17 percent

Michigan's real estate market in 2017 showed some robust price gains, according to regional data provided to the Michigan Association of Realtors. The figure represents houses and condominiums. That's down 0.41 percent from 2016, reflecting ongoing inventory lags. The increase in pricing - at least, on average - shows what is going on in many markets. The pressure among buyers to find a house amid declining inventory is prompting a lot of competition. "It's going to go immediately." Two areas saw usually high average increases in year-over-year numbers. Its area is based in the Elk Rapids and Charlevoix areas, which is known for waterfront property. Emmet Association of Realtors reported 152.39 percent growth. Its area is centered in Petoskey and includes Harbor Springs along the Lake Michigan shore.