Michigan’s vacation home market is crawling toward recovery with an uptick in sales, according to real estate agents across the state. But not all regions are seeing progress, most prices remain discounted, and more buyers are paying all cash.
Sales have risen in many areas, ranging from the lower west side to the northwest tip of the Lower Peninsula to the eastern Thumb, Realtors said. But others, like the northeast counties atop Michigan’s hand, are still reeling from foreclosures and dropping prices.
Boyne City, on the banks of Lake Charlevoix in the northwest Lower Peninsula, reflects both trends. It is seeing a burst of vacation home construction even as it grapples with a glut of properties for sale.