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October 2017, The Housing Market in Cass County & SWMI

Overall in October 2017, there was just one more house sold in Cass County than in October 2016. There were 63 overall home sales which was 2 percent higher than the 62 in October 2016. Year-to-date overall sales were up 3 percent (589 vs. 572).

The number of waterfront homes sold in October decreased 19 percent (17 vs. 21). Year-to-date, waterfront home sales were up 13 percent (175 vs. 155). Non-waterfront home sales rose 12 percent from 41 in October 2016 to 46 in October 2017. Year-to-date, non-waterfront home sales were down by 3 houses (414 vs. 417).

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September 2017, SWMI Housing Market Low Inventory - High Selling Prices

“The SWMI housing market for the past nine months has surpassed the record numbers set in 2016. Historically, 2006 had been the peak year for the local housing market. It took ten years for the market to rebuild economically to the point where 2016 became the new peak year. Now, in 2017 the dwindling inventory of houses for sale could help to set a new benchmark year,” stated Alan Jeffries, Association Executive, Southwestern Michigan Association of REALTORS^®, Inc.

Read more: September 2017, SWMI Housing Market Low Inventory - High Selling Prices

October 2017, The Housing Market in Southwestern Michigan

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).

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September 2017, The Housing Market in South Haven 49090 and SWMI

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