While some home sales in Michigan still seem to be sluggish, Waterfront homes show a very different picture. In 2009,  in St. Clair Shores, Harrison Twp, Chesterfield Twp and New Baltimore there were only 123 homes sold with prices ranging from $27,000 to $750,000.  In 2010 things took an upswing in a down market with 139 waterfront homes selling in a range from $35,000 to $1,100,000.  
While in 2011, we are already at 70 homes sold between January 1 and August 9. The 70 homes that were sold in the first 7 months of 2011, sold between $25,000 and $650,000 with 27 homes pending between $49,000 and $600,000. Another notable statistic is there were only 108 active waterfront homes as of August on the market, both lake and canal front listings.  While the number of actives may seem high to some, when you look at how many homes there are in that geographic area, the inventory is actually  quite low. 
Of course, there will always be the dispute between lakefront vs. canal front.  Boaters seem to like the canal front better, especially if they have a large boat with a substantial draft. It’s preferable because it’s calmer and protected from the waves making it much easier on the watercraft.  Lakefronts are still very popular because the view is worth a thousand words but he best of both worlds is when you can find a home that faces the Lakefront but it also has a canal front, either on the side or across the street, where you can dock your boat and have the view.Remember when you kicked yourself in the 90’s for not buying a waterfront home?  Don’t miss the opportunity again.  With waterfront prices still below average and the interest rates still so low, we may not see this opportunity again for a while.

For more information, contact:

Lynn Caldwell, Realtor®

Sine & Monaghan Realtors®
18412 Mack Ave.
Grosse Pointe Farms, MI  48236
Direct: 586.294.5055
Office: 313.884.2293
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