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Press Room

April 2017, Housing Market in South Haven 49090 and SWMI

In April, the number of single family home sales in the South Haven zip code 49090 dropped 15 percent when compared to April 2016 (17 vs.20). Year-to-date, the number of single family houses sold was up 15 percent (61 vs. 53).

The average selling price for single family houses in April declined 27 percent to $197,953 from $ 270,430 in April 2016. Year-to-date, the average selling price was up 27 percent ($280,962 vs. $ 221,063).

The median selling price for single family houses slipped 5 percent to $225,000 from $235,550 in April 2016. Year-to-date, the median selling price was up 3 percent ($190,000 vs. $ 185,000).

There were 2 condos sold in April 2017 compared to 4 in 2016. Year-to-date, condo sales were down by 2 when compared to 2016 (8 vs. 10).  The average condo selling price soared 38 percent in April 2017 to $348,220 from $252,250 in April 2016. Year-to-date, the average selling price was up 28 percent ($253,759 vs. $198,400).

Read more: April 2017, Housing Market in South Haven 49090 and SWMI

April 2017, The Housing Market In Southwestern Michigan

The housing market in April broke all records for houses sold, total dollar volume, and average and median selling prices in our year-over-year comparison back to 2006. And the year-to-date numbers also shattered previous records. This was significant since 2016 became the peak year for the housing market and the percentage increase for April 2017 was 6 to 26 percent above April 2016.

In addition, the April average and median selling prices jumped 11 and 30 percent respectively, over March selling prices.

The 16 percent drop in the number of houses for sale continues to fuel the record setting pace that we saw in April. At the end of April there were 1,794 houses for sale compared to 2,134 houses in April 2016. This gave us just a 5.9-months supply of houses for sale going into the peak selling season with a very tiny increase over the inventory in March of 1646 which was a 5.4-months supply. In April 2010, the inventory was at 3452 houses for sale and at 15.6-months supply.

Read more: April 2017, The Housing Market In Southwestern Michigan

March 2017, Housing Market in South Haven 49090 and SWMI

In March, the number of single family home sales in the South Haven zip code 49090 almost doubled when compared to March 2016 (19 vs. 10). Year-to-date, the number of single family houses sold was up 33 percent (44 vs. 33).

The average selling price for single family houses in March declined 9 percent to $221,158 from $242,670 in March 2016. Year-to-date, the average selling price was up 64 percent ($313,034 vs. $191,143).

The median selling price for single family houses fell 27 percent to $175,000 compared to $238,500 in March 2016. Year-to-date, the median selling price was up 18 percent ($177,250 vs. $150,000).

Read more: March 2017, Housing Market in South Haven 49090 and SWMI

March 2017, The Housing Market in Cass County & SWMI

Overall home sales fell by 1 house behind the number of house sold in March 2016 (49 vs 50). At the end of the first quarter, sales were down 13percent from 129 home sales March 2016 to 112 in March 2017.

Nine waterfront homes were sold in March 2017 compared to 10 in March 2016. Year-to-date, water front home sales were down 15 percent (22 vs. 26). Non-waterfront home sales remained the same in March 2017 (40 vs. 40). Year-to-date, non-water front home sales dropped 13 percent (90 vs. 103).

In March, the average selling price in Cass County for all homes soared 42 percent to $197,333 from $139,348 in March 2016. The median selling price for all homes in March also climbed 29 percent to $130,000 from $101,200 in 2016.

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March 2017, The Housing Market in Southwestern Michigan

The housing market in March, rallied following the restrained results in February. Compared to a year ago, the market was up double digits for number of houses sold, total dollar volume and average selling price. The first quarter ended setting record numbers for year-to-date, total dollar volume and both year-to-date, average and median selling prices in our year-over-year comparison since 2006. This is a significant since 2016 surpassed previous housing market results and became the new peak year.

Fueling part of housing market’s rise is the very low inventory of houses for sale. At the end of March there were just 1,646 houses for sale compared to 1,991 houses in March 2016. This was a 17 percent drop in one year. At the end of March we had 5.4-months supply of houses for sale going into the peak selling season. Last year at the end of the quarter there was a 7.1-months supply. To give a perspective of how far the market inventory has fallen, in March 2010 there was 14.7-months supply of houses for sale.

Read more: March 2017, The Housing Market in Southwestern Michigan