Wallace, MI

Wallace is a small town in the Upper Peninsula of Michigan with a population of just over 2,000 people. The town is located on the shores of Lake Superior and has a long history as a fishing and logging community. In recent years, Wallace has become known for its real estate market.

The real estate market in Wallace is dominated by single-family homes. There are a few multi-unit buildings in the town, but they are mostly apartments or condos. The average price for a single-family home in Wallace is $150,000. The median price for all homes sold in Wallace was $130,000 in 2016.

The most popular type of home to buy in Wallace is a single-family home. This is likely because there are not many other options available to buyers and the prices are relatively low compared to other parts of Michigan. There are also a few duplexes and triplexes available for sale, but they tend to sell for less than single-family homes.

One reason why the real estate market in Wallace is so strong is that there are not many major developments planned for the town. This means that there will be plenty of space available for new homes to be built as demand increases over time.