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.
Read more: July, 2018 - The Housing Market in Southwestern Michigan
In June, the low inventory of houses for sale resulted in a 39 percent drop in the number of single family home sales in the South Haven zip code 49090 (19 vs. 31). Year-to-date in 2018, single family home sales were down 25 percent (89 vs. 119).
The demand for single family homes boosted both average and median selling prices. The average selling price for single family houses in June increased 48 percent to $370,318 from $250,526 in June 2017. At $288,500, the median selling price for single family houses was up 65 percent from the June 2017 median selling price of $175,000. Year-to-date in 2018, the average selling price for single family home sales was up 20 percent and the median selling price was up 13 percent.
Read more: June 2018, The Housing Market in South Haven 49090 and SWMI