The holidays are over, and people are turning their attention to hopes and plans for 2019. Some of these plans include real estate purchases. According to local experts, the 2019 market in real estate will probably resemble the 2018 market. In northern Michigan, that spells good news as the local market was very healthy in 2018.
Real estate in the Traverse City region of Michigan continues to be a promising prospect. There are significant commercial and residential projects in the works. Another area that shows promise is in the farming industry. According to one real estate source, one of northern Michigan's biggest assets may be its farmland.
Development continues in the Grand Traverse area in Michigan. An exciting real estate project was recently announced, and the community has an opportunity to invest in the project. The multi-million-dollar mixed-use building project is scheduled to begin in the summer of 2019. Community residents have an opportunity to buy in as part owners.
Grand Traverse County, Michigan, and surrounding areas continues to be healthy environment for buying and selling property. Prices of single family homes in the region have largely seen an increase. The number of homes available has largely gone up while there has been a decrease in average days on the market (DOM). This all points to continued health in the real estate market.
The hotel industry in the Traverse City area is experiencing a fair amount of activity. Properties for sale have been sold, and there are additional projects in the proposal phase. This points to increased growth and opportunity in the local hotel and corporate real estate industry in Michigan.