Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 584, 308 total housing units (homes and apartments), and a median house value of $633,857, Suttons Bay house prices are not only among the most expensive in Michigan, Suttons Bay real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Suttons Bay, accounting for 42.86% of the village's housing units. Other types of housing that are prevalent in Suttons Bay include row houses and other attached homes ( 31.79%), duplexes, homes converted to apartments or other small apartment buildings ( 18.75%), and a few large apartment complexes or high rise apartments ( 6.61%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Suttons Bay. Owner-occupied housing accounts for 76.61% of Suttons Bay's homes, and 68.21% have either three or four bedrooms, which is average sized relative to America.
Suttons Bay homes and real estate are some of the newest in America. 35.36% of Suttons Bay's housing was built since 2000, making the village have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Suttons Bay real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 33.75%), and between 1940-1969 ( 16.43%). There's also some housing in Suttons Bay built before 1939 ( 14.46%).
A decent proportion of the Suttons Bay housing stock is seasonally occupied. That is, homes and condos in Suttons Bay are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Suttons Bay housing market speaks to its popularity as a vacation location of choice.
In the last 10 years, Suttons Bay has experienced some of the highest home appreciation rates of any community in the nation. Suttons Bay real estate appreciated 163.81% over the last ten years, which is an average annual home appreciation rate of 10.19%, putting Suttons Bay in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Suttons Bay definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Suttons Bay that despite a nationwide downturn in the housing market, Suttons Bay real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Suttons Bay appreciation rates continue to be some of the highest in America, at 13.29%, which is higher than appreciation rates in 95.82% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Suttons Bay. Suttons Bay appreciation rates in the latest quarter were at 0.88%, which equates to an annual appreciation rate of 3.56%.
Relative to Michigan, our data show that Suttons Bay's latest annual appreciation rate is higher than 90% of the other cities and towns in Michigan.
$633,857
for Michigan
for nation
308
$2,008 / per month