Charlevoix, MI 49720 Real Estate Market Report

ZIP Code: 49720
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The real estate market in Charlevoix, MI is currently characterized by a neutral market temperature, indicating a balance between buyers and sellers. However, the market has seen a decrease in overall pricing trends, with the median sold price reflecting current buyer sentiment and market dynamics. The median listing price stands at $559,900, while homes are taking an extended 218 days on market before sale, suggesting a slower sales velocity and potential pricing friction for sellers. This extended time frame may indicate that buyers are exercising caution in their purchasing decisions, influenced by elevated interest rates and a cooling market environment.

The market's liquidity appears constrained, with elevated inventory levels relative to sales activity. The median price per square foot is $292.70, which may suggest that sellers are adjusting their expectations to align with the current market realities. The overall economic backdrop in Michigan indicates stable yet moderating growth, further contributing to the current market conditions.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Charlevoix, MI are averaging 6.38%, which is 0.75% lower than the average of 6.65% recorded a year ago.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price reflects a decrease in overall pricing trends, indicating potential buyer caution in Charlevoix, MI.

2. With a median days on market of 218, homes are experiencing slower sales velocity, suggesting a need for sellers to adjust expectations.

3. The median price per square foot is $292.70, indicating potential pricing friction as sellers navigate current market conditions.

4. Current elevated inventory levels suggest excess supply relative to sales activity, impacting overall market liquidity.

5. Elevated interest rates are contributing to a neutral market temperature, which may influence buyer behavior and market dynamics.

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Notable Properties

The following 5 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.