Overall home sales in June dropped 7 percent from what sold in June 2018 (71 vs. 76). Sales of waterfront houses decreased 30 percent (16 vs. 23). Non-waterfront home sales were up by 2 houses (55 vs. 53).
At the end of the second quarter of the year, overall housing sales in June 2019 trailed by 28 houses when compared to June 2018 (285 vs. 313) for a 9 percent decrease. Waterfront home sales were down by the biggest share with 21 of the overall 28 houses. This put waterfront home sales 25 percent behind in sales from June 2018 (62 vs. 83). Non-waterfront housing sales were down by seven houses (223 vs. 230).
For the first half of the year, the overall average and median selling prices peaked in May at $271,616 and $197,500 respectively. In June 2019, the overall average selling price dropped 18 percent from May to $222,374. The overall median selling price fell 21 percent from May to $154,000.
Read more: June 2019, The Housing Market in Cass County & SWMI
The exact same number of houses, 367, was sold in June 2019 as in June 2018. In the previous two months, (April and May), sales of homes were increasing by over 20 percent each month. June sales only increased 2 percent or 6 houses over sales in May. Houses sold in June 2019 had an average selling price of 14 percent higher than those sold in June 2018.
At the end of the second quarter, the number of houses sold year-to-date increased 5 percent in June 2019 over the previous year (1669 vs. 1595).
The increased average selling prices in June 2019 raised the total dollar volume 14 percent ($96,566,516 vs. $84,780,334). Year-to-date, the total dollar volume was up 8 percent ($389,389,518 vs. $359,747,465). The monthly and year-to-date total dollar volumes set new records in the year-over-year comparison since 2006.
Read more: June 2019, The Housing Market in Southwestern Michigan