Press Room

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).

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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

September 2017, The Housing Market in Cass County & SWMI

The number of houses sold in Cass County in September was almost the same as in August (85 vs. 87). Compared to a year ago, the overall sales were up 9 percent (85 vs 78). The extra boost in September overall house sales pushed the year-to-date sales up to 3 percent higher than in 2016 (526 vs. 510).

The number of waterfront homes sold in September increased by 4 houses for an 18 percent increase (26 vs. 22). Year-to-date, waterfront home sales were up 18 percent (158 vs. 134). Non-waterfront home sales rose 5 percent from 56 in September 2016 to 59 in September 2017. Year-to-date, non-waterfront home sales were down 2 percent below sales in 2016 (368 vs. 376).

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