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Petoskey home listed at $14 million.
When people think of pricey real estate, they think of Nantucket, Mass., and Napa, Calif. They usually don't think of Petoskey, Mich., a town of fewer than 6,000 year-round residents.
But Crain's Detroit Business reports that Petoskey has joined the ranks of those luxury housing markets where more than half of new home listings are priced at $1 million or more.
Crain's reports:
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, released Wednesday and based on March data, put Petoskey in 11th place, with 53% of its active listings priced above $1 million.
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Not to say you can't get a home in Petoskey for a lot less than $1 million.
Homes.com lists a number of homes that range from $365,000 to $849,000. But also included in that batch is a 5-bedroom, 6.5-bath home on W. Bear River Road listed at nearly $14 million.
