269.983.6375info@swmar.org
Member Login

Login to your account

Username *
Password *
Remember Me

Press Room

November, 2016 - The Housing Market in Southwestern Michigan

In November, the housing market activity continued to break records in monthly and year-to-date numbers and prices. When comparing numbers on a monthly and year-to-date basis, we have looked back to 2006 as our peak year. In 2008 through 2010, we saw numbers and prices decline. From 2011 until now the market has slowly rebuilt itself. If the market continues to surge through December, we may need to realign our trend watch to set 2016 as the new peak year.

At the end of November we were just six houses shy of the number of houses sold in all of 2015 (3296 vs. 3302). This narrow gap was an 8 percent gain over the year-to-date standing in November 2015 (3296 vs. 3050). In November 2016, there were 289 houses sold compared to 222 houses sold in November 2015 for a 30 percent increase. Looking at the number of houses sold in the year-to-year comparison for the month of November and year-to-date, both numbers set new records.

Read more: November, 2016 - The Housing Market in Southwestern Michigan

SWMI Housing Market - September Fifth Month of 2016 to Set Record Breaking Numbers

“September sales and selling prices gave us five months in 2016 of record breaking numbers. When we compare the number of houses sold and selling prices in the month of September back to our peak year in 2006, this September had the highest number of houses sold, total dollar volume and median selling price. Only the average selling price in September fell short. All of the year-to-date numbers were higher than in any previous year,” stated Gary Walter, EVP, of the Southwestern Michigan Association of REALTORS®, Inc.

Read more: SWMI Housing Market - September Fifth Month of 2016 to Set Record Breaking Numbers

The Housing Market in Southwestern Michigan, October 2016

The housing market in each of the last 5 months was record breaking in terms of number of houses sold, total dollar volume, and/or average and median selling prices. In October, the housing market, while very good, did not set records when compared to numbers and dollars achieved in the month of October looking back to 2006, our peak year. Year-to-date, 2016 has taken the lead as the peak housing market year across the board.

In October, 326 houses were sold compared to 347 houses sold in October 2015 for a 6 percent decline. Year-to-date, the number of houses sold was up 6 percent (3007 vs. 2828). For the last six months, the numbers of houses sold were above 325 and reached as high as 388 in August. Typically, the number of houses sold in the last two months of the year drop to the 200 level. Depending on how steep the decline will determine if the number of housing sales reaches the peak status in the 2006 to 2016 comparison.

Read more: The Housing Market in Southwestern Michigan, October 2016

September 2016, The Housing Market in Southwestern Michigan

September sales and selling prices gave us five months in 2016 of record breaking numbers. When we compare the number of houses sold and selling prices in the month of September back to our peak year in 2006, this September had the highest number of houses sold, total dollar volume and median selling price. Only the average selling price in September fell short. All of the year-to-date numbers were higher than in any previous year.

Read more: September 2016, The Housing Market in Southwestern Michigan