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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%

March 2020, The Housing Market in Cass County & SWMI

In March, the overall housing market in Cass County exploded in the number of houses sold and increases in selling prices when compared to a year ago.

The overall number of houses sold jumped 49 percent from March 2019 (46 vs. 31). The number of waterfront home sales soared 650 percent to 15 houses in March 2020 from 2 in March 2019. Non-waterfront home sales increased by two houses (31 vs. 29).

Read more: March 2020, The Housing Market in Cass County & SWMI