Updated on May 7, 2019
West Michigan Real Estate Statistics 2019 vs 2018
So far 2019 has brought cold temperatures, lots of snow and rain, and a healthy real estate market.
As we make our way out to enjoy the warmer temperatures and do some house hunting along the Lakeshore, let’s see where we are so far in terms of the market.
Good looking numbers across the board, with the exception of North Ottawa County that saw a 1% decline year over for single family homes. Total number of sales were down 5% for all markets, and Holland / Saugatuck saw the biggest drop at 13% decline this year compared to last. I think this has a lot to do with the cold weather. Look for a good spring and summer market as inventory seems to be increasing to a healthy level.
Condo sales are also strong this year, with double digit price increases in 3 of the 5 Lakeshore markets. Leading the way is Southwest Michigan which includes South Haven down to New Buffalo; there they saw a 15% increase in average condo sales price year over.
Overall, not a bad market out there. Prices are still showing healthy growth, and inventory seems to be ticking up. Happy house/condo hunting!