There are a handful of age-old Traverse City debates that have kept people arguing for a long time. Dairy Lodge vs Bardon’s? Trojans vs Titans? Crusted Creations vs Peegeo’s?
It’s time to add another topic to the debate slate; Old Mission Peninsula waterfront – East Bay vs West Bay. In this month’s market snapshot, we’ll take a look at what the numbers are saying about what has sold and what’s selling in terms of waterfront homes on the Old Mission Peninsula.
Waterfront Sales on Old Mission Peninsula in 2021
Waterfront sales on the Old Mission Peninsula during the first three months of 2021 have been a little slower than they were in 2020 but are still happening. Thus far, five homes with either private or shared West Bay frontage have sold with a total sold value of $3,497,000. Obviously, these homes are on the higher end of the market, averaging $266.26 per square foot.
In contrast, there have been only four sales of homes with private or shared East Bay frontage during the first three months of 2021, but these sales are led by the major sale of Amber Cyman’s (Real Estate One) listing at 7784 East Shore Road with a selling price of more than 1.75 million dollars. All told, the total value of homes sold so far on the east side has been $3,918,500, with an average price per square foot of $373.46.
Bottom Line: Even though there’s been one more West Bay frontage home sold, the value of the East Bay homes sold is leading the way.
Waterfront Sales on Old Mission Peninsula in 2020
2020 was a busy year for waterfront sales on the Old Mission Peninsula. Here’s a look at the activity for both West Bay frontage homes as well as homes on East Bay:
West Bay Homes – 2020
In 2020, 27 homes with private or shared frontage sold, worth a total of $21,475,850. The average price per square foot for these homes was $282.24.
East Bay Homes – 2020
In 2020, 33 homes with private or shared frontage sold, worth a total of $26,637,228. The average price per square foot for these homes was $266.41.
Bottom Line: The east side dominated in terms of the number of homes sold and total sale volume, but on average, a square foot on the west side was worth more. It’s clear that both sides of the OMP offer fantastic amenities for homeowners – it will be exciting to see how the rest of 2021 plays out.
The Brick & Corbett Group Knows Old Mission Waterfront
Since the beginning of 2020 alone, the B&C team has listed and sold four homes with private or shared waterfront on the Old Mission Peninsula. We know what it takes to be successful in Peninsula township.
18366 Heritage Circle
List Price: $494,500
Sold Price: $495,000 (over asking!)
Days on Market: 38
Waterfront: 200 feet of shared frontage on East Bay
14553 Mallard Drive
List Price: $589,000
Sold Price: $630,000 (over asking!)
Days on Market: 42
Waterfront: 320 feet of shared frontage on East Bay
1399 Chimney Ridge
List Price: $489,000
Sold Price: $480,000
Days on Market: 82
Waterfront: 480 feet of shared frontage on West Bay
2835 Keewaydin Trail
List Price: $330,000
Sold Price: $330,000 (100% of asking price)
Days on Market: 56
Waterfront: 2500 feet of shared frontage on East Bay
We Helped Old Mission Waterfront Buyers Too
In addition to serving our seller clients, in the last 15 months, our team has successfully aided the purchase of five waterfront buyers on the Old Mission Peninsula, with transactions totaling over $2,883,000 in value.
Looking to Buy or Sell on the OMP Waterfront?
The Brick & Corbett team can help you too. As the number one team in all of Grand Traverse County, we’re well-versed in what it takes to be successful when buying or selling any type of home. If you’re ready to take the next step in your real estate journey, the Brick & Corbett team is ready to help.