After a mild winter in the East UP, we are slowly getting some new additions to the waterfront
market. While everything on the waterfront that was listed in 2023 pretty much sold out, two island
cottages that didn’t sell last year have relisted.
Interestingly, both have reduced their listing price compared to last year. An island home with
300 ft. of waterfront located at 2695 Wisner Point had its list price reduced by 7%. The
other at 1771 Pleasant Ave on Snows Channel was decreased by nearly 17% compared to
its original price in 2023.
While this could be reflective of the cottages being overvalued when they originally listed, an
argument could also be made that the market for island homes and lots is softening a bit.
It will be interesting to see the status of these properties in a few months after the summer season
has begun.
My guess is that a slight price adjustment was probably all they needed to sell, but
we will have to see what the market indicates.
