MUSKEGON, Mich. — In an article by FortuneMuskegon County is listed as the third most expensive county in the nation.
The chart on the map shows that 59% of homes in Muskegon County are “overpriced.”
Realtors in the Muskegon area disagree.
Dave Medendorp sold homes in Muskegon County for 35 years. He says the growth seen in the Muskegon area is the result of a concerted effort to reinvigorate the community, once a lakeside manufacturing hub.
“In Grand Haven, there could be six houses for sale for less than $200,000. Here there could be 26,” Medendorp said.
Muskegon’s housing stock lends itself to first-time buyers. Still, “for sale” signs are hard to find.
“Overvalued is a bit of a strong word. They’re selling more than they’ve ever sold,” said real estate agent Seth Koeller.
Koeller pointed out that Muskegon’s home values have gone up, but that’s because the quality of life in the community has increased dramatically in recent years. The rent is also increasing. Medendorp used his own daughter as an example. She just bought her first house at 18 in Muskegon and was able to do so with her job in Qdoba.
Koeller says things like the Mercy Health Arena have added businesses to downtown, and of course the community’s real estate draw: Lake Michigan.
“If you were around Muskegon five years ago, we looked completely different,” Koeller said.
Muskegon experts say that while it looks like a real estate bubble, it’s not. Mortgages are being approved more cautiously and more people than ever are moving to Muskegon.
“A lot of people move here from San Diego, California, Maine. They have the option of working from home,” Medendorp said.
Medendorp says an increase in home values won’t be as large as seen in recent years during the pandemic, but he says he still expects it to increase in the area because Muskegon is not doing than grow.