As we move into the spring market, the latest data from the Northern Great Lakes REALTORS® MLS gives us a clear picture of where our local real estate market stands, and where it may be headed.
Whether you’re thinking about buying, selling, or simply staying informed, here’s what you need to know from the March 2026 housing report.
Inventory is Still Tight, but Improving
One of the biggest storylines continues to be inventory.
While housing supply has increased slightly compared to earlier months, we’re still operating in a relatively low-inventory environment. This means:
- Buyers have more options than last year, but still limited choices overall
- Sellers continue to benefit from less competition
- Well-priced homes are still moving quickly
This gradual increase in listings is a positive sign as we head into peak buying season.
Home Prices Remain Strong
Home values across Northern Michigan continue to hold steady, and in many cases, are still rising.
Key takeaways:
- Median sales prices are up compared to last year
- Demand continues to support strong home values
- Sellers are still in a favorable position when pricing correctly
Even with shifting market dynamics nationally, our region remains resilient thanks to lifestyle demand and limited housing supply.
Days on Market is Slightly Increasing
Homes are taking a bit longer to sell compared to the ultra-fast pace of previous years.
What this means:
- Buyers have a little more time to make decisions
- Sellers need to focus on proper pricing and presentation
- The market is becoming more balanced, not slower
This shift is healthy and signals a move toward a more sustainable market.
Closed Sales & Pending Activity
Closed sales have shown some fluctuation, which is typical for early spring, but pending sales activity suggests:
- Buyer demand is still active and engaged
- Many buyers are waiting for the right property
- Spring and summer could bring increased transaction volume
What This Means for Buyers
If you’re considering buying:
- You may face less competition than peak pandemic years
- Interest rates are still a key factor, timing matters
- Acting quickly on the right property is still important
Strategy tip: Get pre-approved and be ready to move when the right home hits the market.
What This Means for Sellers
If you’re thinking about selling:
- You’re still in a strong position
- Pricing your home correctly is more important than ever
- First impressions (photos, staging, marketing) matter
Strategy tip: Homes that are well-prepared and priced appropriately are still selling quickly.
Looking Ahead
As we move further into spring and toward summer, we expect:
- More listings to hit the market
- Continued steady demand from buyers
- A balanced but still competitive market
Northern Michigan continues to be a highly desirable place to live, work, and invest, which keeps our housing market strong.
Let’s Talk About Your Next Move
Every market shift creates new opportunities. Whether you’re buying your first home, upgrading, downsizing, or investing, having the right strategy makes all the difference.
If you’d like a personalized look at what this market means for you, we’re here to help.
Full Report-Click HERE
