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April 2020, SWMI Housing Market - Sales Down 35% & Selling Prices Record-Breaking

“The full effects of Stay-At-Home and REALTORS not being able to show or list houses during the month of April took a toll on the SWMI housing market. The number of houses sold, and the total dollar volume of sales dropped 35 and 34 percent, respectively,” stated Alan Jeffries, Association Executive, Southwestern Michigan Association of REALTORS®, Inc.

“After five years of steady gains in the number of houses sold in April above 224 houses, this past month, there were only 194 houses sold. In April 2019, there were 297 houses sold, which was the peak year in our year-over-year comparison back to 2006,” Jeffries continued.

Read more: April 2020, SWMI Housing Market - Sales Down 35% & Selling Prices Record-Breaking

1st Qtr. SWMI Housing Market - Sales Down 5% & Average Prices up 8%

“At the end of the first quarter of 2020 that included months of economic speculation and the need for social distancing, the number of houses sold only declined by 5 percent from the first quarter in 2019. The housing market inventory of homes for sale also dropped by 4 percent, potentially contributing to the lower number of sales. Selling prices set record levels each month. Year-to-date selling prices at the end of the first quarter also set records in the year-over-year comparison back to 2006.” stated Alan Jeffries, Association Executive, Southwestern Michigan Association of REALTORS®, Inc.

Read more: 1st Qtr. SWMI Housing Market - Sales Down 5% & Average Prices up 8%