Posted on August 26, 2016
West Michigan Real Estate Statistics 1/1 to 8/26
For the time period leading up to 8/26/16, real estate sales statistics in West Michigan showed continued healthy growth year over vs last year, with the markets of Grand Haven and Muskegon up 15% and 7% respectively fro average sale price. Inventory continues to lag behind demand, especially in the Holland market, with new listings down 11% from last year. Muskegon continues to be a hot market with listings down 8% and number of sold homes UP 6%. But that pales in comparison to the northern counties of Mason, Oceana, Manistee where inventory is off by 9% vs last year and number of sales up by 14%! West Michigan is truly a strong real estate market with sustainable growth in most markets, and a good rebound year for the markets hardest hit in the downturn.
I was happy to see the chart above show such a wonderful, healthy view of our current real estate market. This definitely is NOT 2006 allover again! Looks like sellers of real estate are being realistic with asking prices and buyers of real estate are purchasing homes at a nice clip. With more jobs moving into the area, and more and more good PR about the Lakeshore region, I expect to see these numbers increase by the same amounts year over for many years to come.
If you want specific numbers on how your neighborhood or market area is doing, please feel free to contact us! We service the entire Michigan Lakeshore region from New Buffalo to Manistee, and all areas in between, representing home buyers and sellers of the communities’ finest real estate.
Kersh 616-212-8418 Mary 616-638-3390 Lauri 616-292-5727