October 2017 for the SWMI housing market became the 10 month for the year to smash all previous records set in October 2016 and record numbers set historically back to 2006. The warm fall season and quickly vanishing inventory may have kept buyers motivated along with the mortgage rates remaining low at around 4 percent locally.
The number of houses sold in October 2017 increased 9 percent to 354 over 326 in October 2016. Year-to-date, the number of houses sold increased 5 percent (3167 vs. 3007).
Read more: October 2017, The Housing Market in Southwestern Michigan
Single family homes sold in the South Haven zip code 49090 during September 2017 increased by 1 house over September 2016 (28 vs. 27). Year-to-date, the number of single family houses sold was up 20 percent (197 vs.164).
The average selling price for single family houses in September dropped 20 percent to $285,198 from $357,156 in September 2016. Year-to-date, the average selling price was down 6 percent ($262,444 vs. $278,805).
Read more: September 2017, The Housing Market in South Haven 49090 and SWMI