10/06/2026
I pulled the last year of Otsego County sales out of the MLS this week because I kept seeing national headlines about cash buyers and wanted to see what was actually happening right here in our own backyard.
Nationally, the news says about 1 in 4 homes sold this summer went to a cash buyer. Here in Northern Michigan, our overall average is similar, but the real story is where those cash buyers are actually showing up.
Under $250,000: Almost a third of buyers paid cash. This is where investors and second-home buyers looking for a quick getaway cabin are making moves.
Between $250,000 and $450,000: Where the vast majority of our local sales happen, the cash rate drops to about 1 in 7.
Above $500,000 & Waterfront: The cash buyers spike right back up to about 1 in 5, largely driven by retirees and relocation buyers bringing equity from downstate or out of state.
If you are a first-time buyer looking at entry-level homes, you need to know you are up against cash—which means your offer strategy needs to be flawless. If you are shopping the middle of the market, you are mostly competing with other financed offers, so your local lender pre-approval is your best weapon.
I broke down all the specific groups in our market right now, including what local builders are doing and why so many homeowners are staying put with their current rates.
The full breakdown with the exact numbers is in the comments! 👇
***rdMichigan
