Is Petoskey, MI 49770 a buyer’s or seller’s market?

The Petoskey housing market right now

In the three months ending August 31, 2026, 31% of homes in Petoskey, MI 49770 sold above their list price, the typical home went under contract in 29 days and there were 3.8 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 16 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 44%, homes sold faster (37 days then) and the median sale price fell 12% to $509,779. Overall, Petoskey is less competitive than a year ago, which gives buyers more room.

Within Emmet County, homes here sell faster than in 86% of the county’s ZIP codes, and sell more often over asking than in 57%. On our competition score, Petoskey ranks #325 of 510 MI ZIP codes with enough sales (score 55 out of 100).

Nearby, buyers who want less competition could look at Pellston 49769 (0% sold over asking) or Carp Lake 49718 (0% sold over asking), while Brutus 49716 (100% sold over asking) and Mackinaw City 49701 (50% sold over asking) are even more competitive.