04/09/2026
Petoskey, a small Northern Michigan town with fewer than 6,000 year-round residents, has joined the ranks of Nantucket, Mass., and Napa, Calif., as a luxury housing market where more than half of new home listings are priced at $1 million or more.
Realtor.com identified 13 “pure luxury” U.S. housing markets where more than half of all active listings are priced at $1 million or above. The report, based on March data, put Petoskey in 11th place, with 53% of its active listings priced above $1 million.
Petoskey’s median list price in March was $1.11 million, according to the report. Data showed the northwestern Lower Peninsula city on Little Traverse Bay has an average of about 104 $1 million-plus listings per year.
Petoskey is grouped in the report alongside well-known U.S. playgrounds for the wealthy like the island of Nantucket, Mass., where 99% of active listings in March exceeded $1 million, with a median list price of $4.08 million.
Read more here:
https://www.crainsdetroit.com/real-estate/residential/cdb-petoskey-luxury-housing-ranks-20260408/?utm_source=facebook&utm_medium=soc-own
