Saint Ignace, MI

Saint Ignace is a small town located in the Upper Peninsula of Michigan. The population is just over 2,000 people and the median household income is just over $60,000. The town has a strong tourism industry based around its fishing and hunting opportunities. Real estate in Saint Ignace is typically expensive due to its remote location and limited inventory.

The town's real estate market has been slow to rebound from the recession, with sales volumes remaining below average throughout most of 2013 and 2014. However, there have been some recent signs of improvement, with sales volumes increasing by 10% in 2015. Prices have also increased modestly over the past few years, although they remain much lower than prices in larger cities such as Marquette or Traverse City.

There are a number of reasons why Saint Ignace's real estate market has been slow to rebound from the recession. First, there are relatively few homes available for sale compared to other towns of similar size in Michigan. Second, many homebuyers are looking for properties that are closer to major cities such as Marquette or Traverse City rather than staying close to home in Saint Ignace. Finally, many people who were looking to buy homes during the recession have already done so or are no longer interested in buying homes due to higher prices and stricter lending criteria imposed by banks since the recession began.