5 Most Surprising 2023 Real Estate Deals in Michigan

The luxury real estate market saw significant growth in the US in 2022. The growth led to some of Michigan’s most surprising 2022 real estate deals as wealthy buyers shrugged off high mortgage rates and premium prices.

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The luxury real estate sector was white hot in Michigan in 2022. Wealthy buyers jostled for opportunities to buy some of the best homes in the vacation state, with some willing to pay more than $100,000 over the asking price to beat their competition. Consequently, Michigan’s most surprising 2022 real estate deals set new records as buyers fought for the limited inventory.
Most Surprising 2023 Real Estate Deals in Michigan

Most battles for prime properties were fought around the Lake Michigan area where a tussle between multiple bidders and all cash offers was the order. More than 900 luxury homes were sold, representing an 8% increase from the previous year’s levels. Oakland was one of the hotbeds for the most expensive homes that went on sale.

Most Surprising 2022 Real Estate Deals in Michigan

8425 Raspberry Lane, Charlevoix $9,845,000
The biggest and most surprising 2022 real estate deal in Michigan was made at an auction. The $9.845 million house was initially built in 2009 by automotive executive Frank Macher. The architectural masterpiece comes with 16,00 square feet of living space and top-of-the-class amenities. Sitting on a 3-acre piece of land, it also comes with a 197 feet waterfront and immaculate landscaping.

The mansion comes with seven bedrooms designed to offer serenity and comfort with top-of-the-class ambiance and hominess. There is a three-and-a-half spiral staircase for accessing upper floors that come with soaring ceilings. The topmost floors offer cinematic views of the lake.

The gourmet kitchen comes with Wolf and Sub-zero appliances and a butler’s pantry. The open-feel design comes with an integrated family room dining area and a sun porch.

780 Vaughan Road, Bloomfield Hills $6,125,000
It was the second most surprising 2022 real estate deal in Michigan, with the buyers’ parting ways with 6.12 million for the exquisite estate. It is an exceptional piece that exemplifies timeless elegance and luxury. It took eight years to construct as the materials were meticulously sourced from various parts of Europe.

The property stands out due to its classic European design, with 11,900 square feet of living space. While the property falls short of 12,000 square feet of living space, it was sold for an average of $584.52 per square foot. The mansion offers five luxurious bedrooms and five full bathrooms. There are also three and a half bathrooms.

1356 Kirkway Road, Bloomfield Hills, $6 million
Bloomfield continued to pay homage to some of Michigan’s most surprising 2022 real estate deals, thanks to its luxury home status. The massive mansion off 1256 Kirkway Road went on sale for $6 million with its five bedrooms and six full bathrooms. In addition, the property offers the new owners 7,502 square feet of living space.

Its hefty price tag of $6 million has to do with its prime location near Lower Long Lake. The property also sits on two acres of land. It underwent a major renovation in 2018 that incorporated modern touches, including a waterfall island and a gigantic kitchen.

5021 Solomon Road, Montmorency $5.8 MILLION
It was one of Michigan’s most surprising 2022 real estate deals as it was not the most elegant or modern property to command a $5.8 million price tag. The premium price tag has to do with the fact that the property sits on an expansive 2,000 acres and includes a 112-acre lake. The property’s selling price amounted to $1450 per square foot.

The expansive property has oil, gas, and timbering income opportunities. In addition, the massive real estate offers various outdoor opportunities, including hiking, biking, boating, and fishing. It is also possible to do hunting and camping within the property. While the main house has received a significant update, the lake house and outbuildings maintain their historic charm.

3693 S Bay Drive, Suttons Bay $5,057,000
It is one of the modern properties that appear to have gone on sale at a discount for just $5.1 million. The property sits on 2 acres of land and was built in 2011. The exquisite design stands out on the outside, with the interior finishes stunning even more.

The interior of the modern house features shou Sou ban walls and board-framed cement walls. There is also a touch of cypress wood finish. The gourmet designer kitchen comes with state-of-the-art appliances and a butler’s pantry.

The property has two ensuite guest rooms with private lakeside porches and a larger master store. The master bedroom comes with floor-to-ceiling windows for an abundance of natural light. The house also comes with Lutron and motorized blends.

Bottom Line

Michigan’s real estate sector was one of the hardest hit in 2022 as a spike in interest rates triggered a significant increase in prices and mortgage rates. Nevertheless, that did not stop wealthy buyers from snapping some of the most expensive properties in the market. The most surprising 2022 real estate deals in Michigan was made up of properties that sold for more than $5 million.

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