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
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