The number of houses sold in February 2018 was 3 houses less than in February 2017 (184 vs. 187). However, the average and median selling prices for the month are up 19 and 17 percent respectively. The increase in selling prices pushed the total dollar volume up 17 percent; making it the highest total dollar volume in the year-over-year comparison since 2006.
Year-to-date, the number of houses sold was down 4 percent (374 vs 390). And the year-to-date total dollar volume was 2 percent higher than in 2017 ($76,396,204 vs. $74,637,887). The year-to-date total dollar volume set a record over 2017 to become the highest set in the year-over-year comparison.
Read more: February 2018, The Housing Market in Southwestern Michigan
ST. JOSEPH, MI ? ?The housing market in February continued the positive pace started in January. The number of houses sold increased by double digits while the average and median selling prices held within 2 percent or less when compared to February 2015. Homebuyers in February found average and median selling prices that were significantly lower than in January,? stated Gary Walter, EVP, of the Southwestern Michigan Association of REALTORS?, Inc.
?The number of houses sold in February was up 14 percent over February 2015 (194 vs. 170). Sales in February were just 4 houses shy of the record set in February 2006 (198); which we consider to be the peak year for our local market. With the robust start in January, year-to-date, the number of houses sold were up 21 percent over 2015 (381 vs. 314),? said Walter.
Read more: February 2016 - SWMI Housing Market Sales Up - Prices Drop