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June 2018, The Housing Market in Cass County & SWMI

June non-waterfront home sales increased 51 percent and pushed the overall home sales in Cass County up 31 percent (76 vs. 58) when compared to sales in June 2017. This was true for overall sales year-to-date with a 10 percent increase in home sales (313 vs. 285).

Waterfront home sales in June 2018 were the same as in June 2017 at 23. At the end of the first half of the year, there was only 1 more house sold (83 vs. 82).

The overall average selling price dropped 3 percent in June 2018 even with waterfront prices increasing 5 percent and non-waterfront prices increasing 12 percent ($214,781 vs. $221,799). The median selling price for all homes in June was the same both years at $154,500.

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June 2018, The Housing Market in Southwestern Michigan

At the halfway point of the year, the number of houses sold dropped 6 percent from a year ago (1595 vs.1694). The inventory of houses for sale continued to fall behind each month when compared to the same month in 2017. At the end of June, the inventory was down 9 percent. We had 1,798 houses for sale for buyers in Berrien, Cass and the westerly 2/3 of Van Buren counties. At this level there was 5.9-months supply of houses for sale. At the end of May there was 1704 houses for sale. In 2010, the inventory was 16.9-months supply or 3679 houses.

Read more: June 2018, The Housing Market in Southwestern Michigan

The Housing Market in Southwestern Michigan - September 2010

After the surge of homes sold during the first quarter, thanks to the Stimulus Tax Credit, we have seen a steady drop in the number of houses sold each month, compared to the same month in 2009, to the point that our year-to-date number has dipped 3 percent below where we were at in September 2009.? The good news for sellers is that we have continued to see the average and median selling prices steadily increase each month.? At the end of the third quarter, average and median selling prices were up 9 percent over selling prices at this time in 2009.? The higher selling prices have kept the year-to-date total dollar volume up 6 percent over last year.

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Read more: The Housing Market in Southwestern Michigan - September 2010

February 2016 - SWMI Housing Market Sales Up - Prices Drop

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

SWMI Home Sales Increase - Prices Stay Up

ST. JOSEPH, MI ? ?After the number of closed homes slumped in September, October bounced back by 14 percent. We dropped 12 percent behind October 2009.? Year-to-date we have slipped 4 percent behind or 80 houses short of last year.? The dollar volume for closed transactions in October fell 19 percent below that in October 2009.? However, year-to-date total dollar volume remains up 2 percent for this year. As we entered into the fall months it is going to be interesting to see if the huge benefit of the Stimulus Tax Credit and current closed sales will keep us on par with last year,? stated Gary Walter, EVP, of the Southwestern Michigan Association of REALTORS?, Inc.

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Read more: SWMI Home Sales Increase - Prices Stay Up