“After two peak years in 2016 and 2017, the 2018 local housing market only outpaced the previous years in selling prices and total dollar volume. The housing market in January 2019 started out about where it was in 2015,” stated Alan Jeffries, Association Executive, Southwestern Michigan Association of REALTORS®, Inc.
Read more: January 2019, SWMI Housing Market - Not A Record Setter
In January, the Cass County overall housing market dropped 16 percent when compared to January 2018 (27 vs. 32). The number of waterfront sales fell 56 percent (4 vs. 9). While the non-waterfront home sales stayed the same at 23 homes sold.
Read more: January 2019, The Housing Market in Cass County & SWMI
After two peak years in 2016 and 2017, the 2018 local housing market only outpaced the previous years in selling prices and total dollar volume. The housing market in January 2019 started out about where it was in 2015.
It is not unusual for January to be the least productive month of any given year. For a variety of reasons buyers and sellers push to close in December before year end. When we compare the number of houses sold and closed in December to January of the next year, there has been 25 to 37 percent drop in houses sold over the last five years. For example, home sales in January 2019 were 35 percent below sales in December 2018 (175 vs. 269).
Read more: January 2019, The Housing Market in Southwestern Michigan
In January, the number of single family home sales in the South Haven zip code 49090 fell one short from January 2018 (10 vs. 11).
The average selling price for single family houses in January jumped 12 percent to $316,790 from $282,118 in January 2018. The median selling price for single family houses increased 20 percent to $246,950 compared to $205,000 in January 2018.
Read more: January 2019, The Housing Market in South Haven 49090 and SWMI
Overall home sales in 2018 in Cass County slipped 4 percent (630 vs. 659). In December, the number of homes sold fell 27 percent from December 2017 (51 vs. 71).
The number of waterfront homes sold in all of 2018 decreased 8 percent over 2017 (185 vs. 201). The number of non-waterfront homes sold, dipped 3 percent to 445 from 458 in 2017.
In December 2018 the number of waterfront homes sold declined 54 percent to 12 from 26 in December 2017. Non-waterfront homes sales decreased 11 percent (40 vs. 45).
Read more: December 2018, The Housing Market in Cass County & SWMI
