In August, the Cass overall housing market fell 17 percent from August 2017 (72 vs. 87). The decline was solely the result of non-waterfront homes sales dropping by 15 homes (44 vs. 59). The same number of waterfront homes, 28, sold in August 2018 and 2017.
Year-to-date, overall home sales were up 3 percent (453 vs. 441). Waterfront home sales, year-to-date, increased by three houses (135 vs. 132). Non-waterfront home sales, year-to-date, were up 3 percent (318 vs. 308).
The overall average selling price increased by 6 percent ($227,790 vs. $213,985). Year-to-date, the overall average selling price grew just by $2,030 for a 1 percent increase ($202,380 vs. $200,350). The overall median selling price at $172,450 was up 3 percent over the $167,500 price in August 2017. Year-to-date, the overall median selling price was up by $300 ($152,000 vs. $151,700).
Read more: August 2018, The Housing Market in Cass County & SWMI
“July became a record selling month for 2018 in our year-over-year comparison for all numbers we report except for number of units sold year-to-date. The number of year-to-date houses sold at 1985 fell 2 percent behind sales in July 2017 and 2006 for 3rd place. After 2 peak years in row (2016 and 2017), the market has stayed robust for sellers with the low inventory for buyers,” stated Alan Jeffries, Association Executive, Southwestern Michigan Association of REALTORS®, Inc.
Read more: July 2018, Existing Home Sales Jumped 18% in SWMI