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Housing Market in Southwestern Michigan, February 2016

Housing Market in Southwestern Michigan, February 2016 | General Press Releases

The housing market in February continued the positive pace started in January. The number of houses sold increased by double digits while the average and median selling prices held within 2 percent or less when compared to February 2015. Homebuyers in February found average and median selling prices that were significantly lower than in January.

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Housing Market in Southwestern Michigan, January 2016

Housing Market in Southwestern Michigan, January 2016 | General Press Releases

In spite of the historically low inventory of homes to sell, the number of houses sold increased 30 percent over January 2015 (187 vs. 144). Looking at sales in the month of January going back to 2006, January 2016 had the second highest number of houses sold. In January 2006, 206 houses were sold.

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Housing Market in Southwestern Michigan, November 2015

Housing Market in Southwestern Michigan, November 2015 | General Press Releases

The housing market in November held almost even in the number of houses sold last year, but selling prices sizzled. In November 2015, 222 houses were sold compared to 224 in November 2014. The average selling price for the month was up 27 percent and the median selling price was up 18 percent raising the total dollar volume for the month up 26 percent over November 2014.

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The Housing Market in Southwestern Michigan, December 2015

The Housing Market in Southwestern Michigan, December 2015 | General Press Releases

The housing market in December certainly saw no freeze in the overall process. The number of houses sold, total dollar volume, and selling prices were up double digits over December 2014. All of 2015 showed a nice increase over 2014 making buyers and sellers happy. If there is a negative, it is the low housing inventory which continued to decline though out 2015.

 

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February 2015, SWMI February Housing Sales Up Despite the Weather, Median Selling Price Up 20%

ST. JOSEPH, MI ? "Ruthless weather in the first two months of the year can play havoc with housing sales. Last year, January sales were higher than February and this year it was the opposite. February housing sales were up 18 percent (170 vs 144) over January. Compared to February 2014, this year February housing sales were up 12 percent (170 vs. 152). Combine the two months, year-to-date we sold just 2 fewer houses this year versus last year," stated Gary Walter, EVP, of the Southwestern Michigan Association of REALTORS?, Inc.

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Read more: February 2015, SWMI February Housing Sales Up Despite the Weather, Median Selling Price Up 20%