“At the end of 2016, we were excited about setting a new peak year for the local housing market. It had been a long road back from the 2006, the previous peak year. Then in 2017 the housing market continued to outpace numbers set 2016 while the inventory of houses for sale continued to shrink. The number of houses sold, the total dollar volume, and the average and median selling prices for 2017 all surpassed 2016 numbers crowning 2017 the new peak year for the housing market in Southwestern Michigan,” stated Alan Jeffries, Association Executive, Southwestern Michigan Association of REALTORS®, Inc.
Read more: December 2017, Year End SWMI Housing Market - 2017 New Peak Year
In 2017, the number of single family home sales in the South Haven zip code 49090 increased 15 percent when compared to 2016 (260 vs. 260). There number of single family houses sold in December 2017 declined 25 percent from December 2016 (12 vs. 16).
The average selling price for single family houses in 2017 slipped 3 percent to $271,622 from $280,371 in 2016. The median selling price for single family houses in 2017 51 rose 16 percent over 2016 ($204,000 vs. $216,250).
In December, the average selling price for single family houses soared 54 percent when compared to December 2016 ($385,325 vs. $250,238). The median selling price in December 2017 jumped 51 percent to $327,500 from $176,500 in December 2016.
Read more: December 2017, The Housing Market in South Haven 49090 and SWMI