ALPENA, Mich. (AP) — The market for waterfront vacation homes along lower Michigan’s Great Lakes is a tale of two shorelines.
In the west, business is booming and prices are climbing for properties near Lake Michigan. In the east, bargains abound for buyers as properties along Lake Huron remain relatively affordable.
Dick Waskin of RE/MAX Saugatuck-Douglas tells the Detroit Free Press that prices in that section of Lake Michigan shoreline are “almost back” to the level before last decade’s housing crash and Great Recession.
Along Lake Huron, brokers say prices are rising only modestly from the crash and there’s a buyer shortage. Margie Haaxma of Banner Realty in Alpena says “it’s a steal” in the area.
Michigan’s west coast has long been more expensive than the east, and the difference has grown lately.