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Press Room

March 2017, The Housing Market in Cass County & SWMI

Overall home sales fell by 1 house behind the number of house sold in March 2016 (49 vs 50). At the end of the first quarter, sales were down 13percent from 129 home sales March 2016 to 112 in March 2017.

Nine waterfront homes were sold in March 2017 compared to 10 in March 2016. Year-to-date, water front home sales were down 15 percent (22 vs. 26). Non-waterfront home sales remained the same in March 2017 (40 vs. 40). Year-to-date, non-water front home sales dropped 13 percent (90 vs. 103).

In March, the average selling price in Cass County for all homes soared 42 percent to $197,333 from $139,348 in March 2016. The median selling price for all homes in March also climbed 29 percent to $130,000 from $101,200 in 2016.

Read more: March 2017, The Housing Market in Cass County & SWMI

March 2017, Housing Market in South Haven 49090 and SWMI

In March, the number of single family home sales in the South Haven zip code 49090 almost doubled when compared to March 2016 (19 vs. 10). Year-to-date, the number of single family houses sold was up 33 percent (44 vs. 33).

The average selling price for single family houses in March declined 9 percent to $221,158 from $242,670 in March 2016. Year-to-date, the average selling price was up 64 percent ($313,034 vs. $191,143).

The median selling price for single family houses fell 27 percent to $175,000 compared to $238,500 in March 2016. Year-to-date, the median selling price was up 18 percent ($177,250 vs. $150,000).

Read more: March 2017, Housing Market in South Haven 49090 and SWMI

March 2017, SWMI Housing Market Sales Increased 17% from 2016

“The housing market in March, rallied following the restrained results in February. Compared to a year ago, the market was up double digits for number of houses sold, total dollar volume and average selling price. The first quarter ended setting record numbers for year-to-date, total dollar volume and both year-to-date, average and median selling prices in our year-over-year comparison since 2006. This is a significant since 2016 surpassed previous housing market results and became the new peak year,” stated George Lucas, President of the Southwestern Michigan Association of REALTORS®, Inc.

Read more: March 2017, SWMI Housing Market Sales Increased 17% from 2016

March 2017, The Housing Market in Southwestern Michigan

The housing market in March, rallied following the restrained results in February. Compared to a year ago, the market was up double digits for number of houses sold, total dollar volume and average selling price. The first quarter ended setting record numbers for year-to-date, total dollar volume and both year-to-date, average and median selling prices in our year-over-year comparison since 2006. This is a significant since 2016 surpassed previous housing market results and became the new peak year.

Fueling part of housing market’s rise is the very low inventory of houses for sale. At the end of March there were just 1,646 houses for sale compared to 1,991 houses in March 2016. This was a 17 percent drop in one year. At the end of March we had 5.4-months supply of houses for sale going into the peak selling season. Last year at the end of the quarter there was a 7.1-months supply. To give a perspective of how far the market inventory has fallen, in March 2010 there was 14.7-months supply of houses for sale.

Read more: March 2017, The Housing Market in Southwestern Michigan

February 2017, SWMI Housing Market Sales Prices Up Slightly From 2016

“The housing market in January 2017 continued the record setting pace that the housing market experienced in 2016. The housing market in February failed to set any records in the year-over-year comparison for sales, total dollar volume, and selling prices. However, January sales, total dollar volume, and selling prices managed to keep year-to-date numbers up as much as 11 percent over 2016,” stated George Lucas, President of the board of directors, of the Southwestern Michigan Association of REALTORS®, Inc.

Read more: February 2017, SWMI Housing Market Sales Prices Up Slightly From 2016