Overall home sales decreased 31 percent from 42 home sales in January 2016 to 29 in January 2017.
The number of waterfront homes sold dropped 30 percent (7 vs. 10). Non-waterfront home sales decreased 31 percent in January 2017 (22 vs. 32).
In January, the average selling price in Cass County for all homes increased 5 percent to $167,633 from $159,374 in January 2016. The median selling price for all homes in January decreased 10 percent to $122,000 from $136,000 in 2016.
Read more: January 2017 - Housing Market in Cass County SWMI
“Like climbing a ladder one rung at a time the SWMI housing market has reached the top rung. The housing market in 2016 posted the highest numbers across the board in our year-over-year comparison since 2006. The previous peak year was 2006. Then the housing market began to slide until 2012 when the number of houses sold yearly began to climb. 2016 will now be our new benchmark for a peak market year,” stated Philip Amodeo, Association Executive, of the Southwestern Michigan Association of REALTORS®, Inc.
Read more: December 2016, SWMI Housing Market Reaches New Peak in 2016