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Press Room

January, 2017-January SWMI Housing Market Sets New Record

“Buyers have not been deterred by the shrinking inventory of homes for sale in Southwestern Michigan. Last year, the housing market set records for home sales and selling prices nearly every month. In our year-over-year comparison, 2016 became the new peak year for the local housing market.

It was a long road back from 2006, the previous peak year. January 2017 continued the record shattering trend.

Read more: January, 2017-January SWMI Housing Market Sets New Record

January 2017, Housing Market in South Haven 49090 and SWMI

In January, the number of single family home sales in the South Haven zip code 49090 increased 50 percent when compared to January 2016 (18 vs. 12).

The average selling price for single family houses in January soared 124 percent to $365,406 from $162,992 in January 2016. The median selling price for single family houses increased 9 percent to $149,900 compared to $137,500 in January 2016.

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

The Housing Market in Southwestern Michigan - January, 2017

Buyers have not been deterred by the shrinking inventory of homes for sale in Southwestern Michigan. Last year, the housing market set records for home sales and selling prices nearly every month. In our year-over-year comparison, 2016 became the new peak year for the local housing market. It was a long road back from 2006, the previous peak year. January 2017 continued the record shattering trend. The number of houses sold, total dollar volume, and the average and median selling prices were higher than in January 2016 and also were higher than any previous January going back to 2006.

Read more: The Housing Market in Southwestern Michigan - January, 2017

January 2017 - Housing Market in Cass County SWMI

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

December 2016, SWMI Housing Market Reaches New Peak in 2016

“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