ST. JOSEPH, MI ? "While March set the bar high for the SWMI housing market, April brought significant increases in selling prices that were set in March and outperformed April 2014," stated Gary Walter, EVP, of the Southwestern Michigan Association of REALTORS?, Inc.
Read more: April 2015, SWMI Housing Market Up in April
In May, the Southwestern Michigan housing market results provided a nice kick start to this year's key selling season. The number of houses sold in May increased 23 percent over April (297 vs. 242) and the total dollar volume per month increased 34 percent ($60,210,421 vs. $45,091,173). The average selling price in May at $202,729 was 9 percent higher than in April ($186,327) and the median selling price increased 4 percent to $144,000 from $138,250. We are still working with a low inventory of houses for sale. So far this year, our inventory has ranged from 7.7 ? 9.7 months supply of homes for sale.
Read more: The Housing Market in Southwestern Michigan, May 2015