Petoskey, MI 49770 Real Estate Market Report

ZIP Code: 49770
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The median sold price in Petoskey, MI is $345,000, reflecting a stable market with moderate price appreciation. This suggests a positive trend in property values, although the absence of historical sold price change data limits a deeper analysis of long-term trends. The market appears to be stabilizing, transitioning towards a balanced buyer-seller environment, supported by the current pricing dynamics.

Transaction activity is characterized by elevated inventory levels, indicating an excess supply relative to sales. The median days on market stands at 637 days, which points to slower sales velocity, potentially influenced by elevated interest rate pressure affecting buyer affordability. As a result, some buyers may be adjusting their strategies or delaying purchases, contributing to a more cautious market atmosphere.

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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

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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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.

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Key Findings

1. $345,000 median sold price indicates a stable market with moderate price appreciation.

2. The 637 days median days on market suggests slower sales velocity and potential pricing friction.

3. Elevated interest rate pressure may be impacting buyer affordability, leading to decreased urgency in purchasing decisions.

4. The market temperature is currently neutral, reflecting a balanced environment between buyers and sellers.

5. The year-over-year trend for rents is reported as up, indicating potential growth in rental demand.

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Notable Properties

The following 7 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.