Press Room

September 2018, The Housing Market in Southwestern Michigan

So far this year the housing market has continued to witness fewer home sales with home selling prices climbing. The declining inventory of houses for sale has been the key factor. Buyers across Berrien, Cass and the westerly 2/3 of Van Buren counties have been searching for houses from an inventory that has dropped 34 percent in the last five years.

The number of houses sold in September 2018 was down 2 percent from September 2017 (360 vs. 367). Year-to-date, the number of houses sold was down 3 percent (2,732 vs. 2,813).

Read more: September 2018, The Housing Market in Southwestern Michigan

August 2018, The Housing Market in South Haven 49090 and SWMI

In August, the number of single family home sales in the South Haven zip code 49090 increased by 3 houses when compared to August 2017 (27 vs. 24) Year-to-date in 2018, single family home sales were down 16 percent (142 vs 169).

The average selling price for single family houses in August doubled. Increasing 107 percent to $444,890 from $215,346 in August 2017. At $295,500, the median selling price for single family houses was up 41 percent from the August 2017 median selling price of $209,500.

Read more: August 2018, The Housing Market in South Haven 49090 and SWMI

August 2018, Existing Home Sales Drop 7% While Prices Increase in SWMI

“Last year in August the SWMI housing market set the record for the number of houses sold in the year-over-year comparison with 418. But the average and median selling prices dropped after fairly steady increases during the months leading up to that time. This year in August the number of houses sold dropped 7 percent from August 2017 (387 vs. 418). And the average and median selling prices increased,” stated Alan Jeffries, Association Executive, Southwestern Michigan Association of REALTORS^®, Inc.

Read more: August 2018, Existing Home Sales Drop 7% While Prices Increase in SWMI

August 2018, The Housing Market in Cass County & SWMI

In August, the Cass overall housing market fell 17 percent from August 2017 (72 vs. 87). The decline was solely the result of non-waterfront homes sales dropping by 15 homes (44 vs. 59). The same number of waterfront homes, 28, sold in August 2018 and 2017.

Year-to-date, overall home sales were up 3 percent (453 vs. 441). Waterfront home sales, year-to-date, increased by three houses (135 vs. 132). Non-waterfront home sales, year-to-date, were up 3 percent (318 vs. 308).

The overall average selling price increased by 6 percent ($227,790 vs. $213,985). Year-to-date, the overall average selling price grew just by $2,030 for a 1 percent increase ($202,380 vs. $200,350). The overall median selling price at $172,450 was up 3 percent over the $167,500 price in August 2017. Year-to-date, the overall median selling price was up by $300 ($152,000 vs. $151,700).

Read more: August 2018, The Housing Market in Cass County & SWMI