Northern Michigan Home Prices Rise, Sales Hold Steady in October

Local real estate data for October 2025 show a modest but meaningful uptick in median sale prices across a five county Northern Michigan market that includes Grand Traverse County. The local real estate group Aspire North reported the median five county sales price at $425,000 in October, up from $420,000 in September and up from $407,750 in October 2024. Sales volume in the region totaled 276 homes in October, down from 293 in September but up from 246 in October 2024. The figures were published on November 13, 2025.

Those statistics signal a market that remains elevated compared with earlier years while also demonstrating normal seasonal shifts. Month to month sales dipped as the market moved into the autumn selling season, yet year over year transactions increased by 30 homes, suggesting sustained demand. The median price rise of $17,250 from October 2024 to October 2025 represents a 4.2 percent gain over the year, a measurable appreciation for homeowners and sellers.

For residents of Grand Traverse County the trends have mixed implications. Homeowners who sell now can expect continued strong price levels relative to several years ago, which can increase household equity and boost taxable values for local governments. Higher sale prices can also translate into larger property tax assessments going forward, with potential effects on municipal budgets and school district funding.

Buyers face the opposite dynamic. A median price of $425,000 remains a barrier for first time buyers and lower income households, especially when combined with national level mortgage rate uncertainty and local inventory constraints. Although sales increased year over year, the overall pace of transactions remains below peak years, indicating a market that is neither overheated nor returning to more affordable conditions.

Policy makers and planners in Grand Traverse County may want to weigh these trends when considering housing initiatives. Continued price elevation relative to earlier years strengthens the case for measures that expand attainable housing supply, such as incentives for multifamily development, targeted down payment assistance, and zoning adjustments to increase density near employment and transit hubs. At the same time, local officials should monitor taxable value trends and prepare for possible increases in assessed values that affect property tax bills.

Longer term, the October numbers fit into a pattern of sustained price resilience in Northern Michigan communities. While seasonality will continue to affect month to month volumes, the year over year price gains indicate that housing in the region remains in demand. Residents and officials will need a combination of data driven planning and targeted policy to balance equity, revenue needs, and access to homes in the years ahead.