LAKE MICHIGAN, Mi. (June 15, 2023) –A new lake real estate report from the country’s largest lake-focused brokerage show listing prices in Michigan are up over summer 2022. “The new Lake Real Estate Market Report from Lake Homes Realty shows Michigan’s total market at $2.19 billion, up from $2.02 billion in the summer of 2022,” said Tom Erhart, a new agent with Lake Homes Realty, who focuses on Lake Michigan. Lake Homes Realty operates in 34 states across the country.
“The new quarterly lake real estate report from Lakehomes.com shows Lake Michigan to be the top largest market in the state of Michigan,” said Erhart. “The specialized website just showcases properties that are lakefront, have a lake view or lake access so we can help clients from across the country search for dream lake properties.” As of June 1, 2023, Lake Michigan – Petoskey Area has 79 lake area properties listed, ranging from a $59,000 lot to a $5.9 million lake home. “Twenty-six of the properties were listed for over $1 million,” said Erhart.
The average home price for listings around Lake Michigan in the Petoskey area is $1.68 million, according to the Lake Real Estate Market Report. The average lot price is $585,563 for the 44 lake area lots currently listed.
“The Charlevoix Area on Lake Michigan is the third largest inland lake in the state with a surface area of 17,200,” said Erhart. “With 56 miles of shoreline, the area has gorgeous beaches for recreational use, and it appeals to lake home searchers from across the country. Among the hundreds of people searching the lake homes and lots in Michigan in May 2023, the top Metro area looking on LakeHomes.com was Chicago, followed by Washington D.C, and Columbus, Ohio,” said Erhart. “ The national reach offered by LakeHomes.com works really well with my local expertise along Lake Michigan and the surrounding area,” said Erhart. One in 37 American adults look at LakeHomes.com each year.
“We believe our agents’ intimate knowledge about their lake real estate markets, nuances of the lakes themselves, and their involvement in local lake life is paramount to our continued growth,” said Glenn S. Phillips, CEO and Chief Economic Analyst for Lake Homes “Tom offers outstanding customer service in the Lake Michigan areas and is truly a specialist in that area,” he said.
About Tom Erhart
With over 19 years of experience as a realtor in Northern Michigan, Tom Erhart is a seasoned professional in the industry. His journey began in Southeast Michigan, an area known for having the highest number of lakes in the state. Growing up, Tom always had a dream of living on a lake, and for the past 30 years, he has turned that dream into a reality.
Tom’s expertise extends beyond real estate. He boasts 20 years of experience in business management and has owned and operated both a historic inn and restaurant, as well as a boat tour business on Lake Michigan. This diverse background gives Tom a unique advantage when working with his clients. He approaches every transaction from a holistic perspective, leveraging his deep understanding of the industry and his firsthand knowledge of the hospitality and tourism sectors. Tom’s ultimate goal is to ensure that his buyers secure a lakefront property that not only meets their needs but also ignites their excitement and passion.
One aspect of the real estate process that Tom particularly enjoys is the research involved in finding the perfect lake properties for his clientele. He embraces the challenge and views it as an opportunity for both personal and professional growth. Through meticulous research and a keen eye for detail, Tom goes above and beyond to identify the most suitable lakefront properties that align with his clients’ preferences and goals. With Tom as their guide, buyers can trust that they are in capable hands throughout their real estate journey.