Posted on August 14, 2019
West Michigan Lakeshore Real Estate Year To Date
A look at the West Michigan Lakeshore Real Estate Market for 2019 to date
As we head into another school year after a summer packed with sun, fun, and lots of real estate sales, let’s see how we a fairing so far this year.
Summer is always a great time to make a move, and the market has been red hot in the past years, but are we at a point of equilibrium between buyers and sellers? Let’s look at a couple of graphs and see how the market has done this year compared to last.
The first graph below is for single family homes along the lakeshore, and as you can see, we are still experiencing a healthy market trend in all areas, with Holland / Saugatuck and Muskegon leading the way at 11% and 8% gains year over.
Next, let’s look at the West Michigan Condominium market along the lakeshore for 2018 vs 2019. The number of condo listings and sales have been weak this year compared to last, but there are some good projects in the works that will help with turning things around in some of the communities.
The entire Lakeshore region to Grand Rapids continues to be the darling of Midwest Real Estate, and seems to be the topic of a national article every week! I look for more of the solid market trend to continue as we see moving from large metropolitan areas to our amazing lakeside communities. For instance we see many new faces from the Chicago area moving here just to avoid the higher taxes in the city. With loads of entertainment, great housing, and an amazing geographic location, I think the move ends up being a pretty easy one.
As always, feel free to contact Kersh, Lauri, or Jillyn for any real estate needs you might have.
Why is it, your market txt expounding a “healthy market trend” and a “ the lakeshore being the darling of the Midwest” does not compute on North Shore and Maiden Lane, and is contrary to what you told me in my home in May. I realize your using market speak, but needless to say, it’s a bit double speak and your healthy market scenario is not evident in my neighborhood in à variety of prices.
Hello Merle,
This market study is a broad snapshot of the entire West Michigan market (on and off water), and sub-markets within the West Michigan area. There will always be outliers relative to the broad market, just as certain stocks will perform poorly in a good stock market run. I did not break down the statistics neighborhood to neighborhood, but if I did, I’m sure I would find many areas that perform better and worse than the overall market…this is just the average, and the average looks healthy. Your home is in a market that seems to be trending on the slow side…chalk it up to higher lake levels and less beach, but when we look at North Shore off water homes, the trend is slowing. It’s a market within a market that I did not include in this report, since I didn’t want to bog people down with too much data.
I hope you are well and the home is sold soon!