2017 West Michigan Real Estate Sales Statistics

2017 West Michigan Real Estate Sales Statistics

As we head into the spring market of 2018, let’s take a look back out how the market played out in 2017 vs 2016 along the West Michigan Lakeshore.

Gains were seen across the board in 2017, which might come as a surprise to some that thought we had peaked in 2016.  An increasing job market and some great P.R. for our region continues to bring people to the area, thus catapulting the market year after year.

Looking at the chart below, you can see we had an increase of 8% in average sale price for both condominiums and single family homes in West Michigan across the board.  The Holland and Saugatuck real estate markets saw double digit gains in both single family and condo sales at 10% and 11% respectively, the only market to accomplish this.  North Ottawa County area, which includes Spring Lake and Grand Haven, was the big winner in condo average sale price, increasing 14%; and also led the way in average sale price of $263,659 for single family homes along the Lakeshore.

The theme remained in terms of inventory, as the market as a whole was down 5% for active listings from 2016, while the number of sale were up 4%.  Condo seem to be a hot commodity as there were three markets (Holland/Saugatuck, Mason Oceana Manistee, and the North Ottawa County) that saw double digit percentage increases in the number sold.

2017 West Michigan Real Estate Sales Statistics

Looking forward to a strong 2018.  The fundamentals remain intact, and our area is no longer a secret to the rest of the world.

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