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Press Room

May 2018, SWMI Housing Market - Sales Down Due to Low Inventory

“Since March, the momentum in number of houses sold has picked up while the increase in the housing inventory has been very marginal. The low inventory has kept the number of houses sold down 6 percent year-to-date. After two years of breaking records in the number of home sales, this year sales have fallen to fourth place in the year-over-year comparison back to 2006. In just the month of May 2018, the number of houses sold fell 4 percent below May 2017 (328 vs. 341),” stated Alan Jeffries, Association Executive, Southwestern Michigan Association of REALTORS®, Inc.

Read more: May 2018, SWMI Housing Market - Sales Down Due to Low Inventory

May 2018, The Housing Market in Cass County & SWMI

Overall home sales in Cass County in May were boosted by the increased sales of non-waterfront houses just as in April. There were 11 more homes sold overall in May 2018 when compared to May 2017 (66 vs. 55). Year-to-date, the housing market was up 4 percent in May 2018 (237 vs. 227).

The number of waterfront homes sold in May increased by 2 houses from May 2017 (18 vs. 16). Non-waterfront home sales increased by 9 houses in May 2018 (48 vs. 39).

The overall average selling price dropped 2 percent with waterfront prices increasing while non-waterfront prices decreasing ($194,231 vs. $197,288). The median selling price for all homes in May fell 30 percent to $123,000 from $175,500 in May 2017.

Read more: May 2018, The Housing Market in Cass County & SWMI

May 2018, The Housing Market in Southwestern Michigan

Since March, the momentum in number of houses sold has picked up while the increase in the housing inventory has been very marginal. The low inventory has kept the number of houses sold down 6 percent year-to-date. After two years of breaking records in the number of home sales, this year sales have fallen to fourth place in the year-over-year comparison back to 2006. In just the month of May 2018, the number of houses sold fell 4 percent below May 2017 (328 vs. 341).

Read more: May 2018, The Housing Market in Southwestern Michigan

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

In May, the number of single family home sales in the South Haven zip code 49090 fell 26 percent from May 2017 (20 vs. 27). Year-to-date in 2018, single family home sales were down 21 percent (70 vs. 88).

The average selling price for single family houses in May increased 21 percent to $391,499 from $324,742 in May 2017. At $257,450, the median selling price for single family houses was up 3 percent from the May 2017 median selling price of $250,000.

Read more: May 2018, The Housing Market in South Haven 49090 and SWMI

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

In April, the number of single family home sales in the South Haven zip code 49090 increased by 1 house over April 2017 (18 vs. 17). Year-to-date in 2018, single family home sales were down 18 percent (50 vs. 61).

The average selling price for single family houses in April increased 13 percent to $223,397 from $197,953 in April 2017. At $181,750, the median selling price for single family houses was down 19 percent from the April 2017 median selling price of $225,000.

Condo sales increased 1 condo in April 2018 (3 vs. 2). Year-to-date in 2018, condo sales were up 50 percent when compared to a year ago (12 vs 8).

Read more: April 2018, The Housing Market in South Haven 49090 and SWMI