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February 2018, The Housing Market in Cass County & SWMI

Overall home sales in January increased by 3 houses in January 2018 over January 2017 (32 vs. 29). In February 2018, 3 fewer homes were sold than in February 2017. Year-to-date, overall home sales were even with 2017.

The number of waterfront homes at 6 matched the number of waterfront homes sold in February 2017. Non-waterfront home sales decreased by 3 houses in February 2018 (25 vs. 28).

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February 2018, The Housing Market in Southwestern Michigan

The number of houses sold in February 2018 was 3 houses less than in February 2017 (184 vs. 187). However, the average and median selling prices for the month are up 19 and 17 percent respectively. The increase in selling prices pushed the total dollar volume up 17 percent; making it the highest total dollar volume in the year-over-year comparison since 2006.

Year-to-date, the number of houses sold was down 4 percent (374 vs 390). And the year-to-date total dollar volume was 2 percent higher than in 2017 ($76,396,204 vs. $74,637,887). The year-to-date total dollar volume set a record over 2017 to become the highest set in the year-over-year comparison.

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

In February, the number of single family home sales in the South Haven zip code 49090 dropped by 1 house when compared to February 2017 (9 vs. 10). Year-to-date in 2018, single family home sales were down 20 percent (20 vs. 25).

The average selling price for single family houses in February at $460,333 rose 33 percent over $346,710 set in February 2017. The median selling price for single family houses dropped 19 percent to $192,500 compared to $237,200 in February 2017.

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January 2018, SWMI Housing Market - Not A Record Starter

“After two peak years, the January 2018 housing market took a step backward. It is not unusual for the month of January to the be least productive month of any given year. For a variety of reasons buyers and sellers push to close in December before year end. This year for example home sales in January were 30 percent below sales in December 2017 (190 vs. 272),” stated Alan Jeffries, Association Executive, Southwestern Michigan Association of REALTORS^®, Inc.

Read more: January 2018, SWMI Housing Market - Not A Record Starter