“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
In 2016, the number of single family home sales in the South Haven zip code 49090 increased 17 percent when compared to 2015 (226 vs. 193). There was just one more single family house sold in December 2016 versus December 2015 (16 vs. 15). The average selling price for single family houses in 2016 rose 7 percent to $280,371 from $261,775 in 2015.
The median selling price for single family houses in 2016 increased 2 percent over 2015 ($176,500 vs. $173,000).
In December, the average selling price for single family houses dropped 5 percent when compared to December 2015 ($250,238 vs. $261,993). The median selling price in December 2016 rose 25 percent to $216,250 from $173,000 in December 2015.
Read more: December 2016, South Haven Housing Market