TRAVERSE CITY - August real estate sales in the Grand Traverse region remained strong.
Statistics from the Traverse Area Association of Realtors (TAAR) show 292 units were sold in the region in August, a 7 percent jump over sales numbers from July. The numbers represent home sales in Grand Traverse, Leelanau, Antrim, Kalkaska and Benzie counties.
There are some signs of cooling off, though, in what has been a red-hot summer market throughout the year. The average sale price dropped from July to August by 2.5 percent, from $222,363 to $216,723. Kimberly Pontius, executive vice president of TAAR, said he’s hearing from real estate agents that things are calming down a bit in the regional market following a strong showing throughout the year.
“We are seeing a leveling off,” Pontius said. “We are still very pleased but things are calming down a little bit. It’s starting to plateau a bit right now.”