Check out our November Newsletter!
West Michigan's real estate market is tapering off a bit as the holiday season approaches. Time-on-market is growing a little longer for sellers, and buyers are having more choices as inventory starts to increase. Overall, it's still a solid seller's market under $450,000 and a buyer's market above that price-point. Consider these year-to-date numbers:
* Sold prices are up 8.0% to an average of $184,518.
* Closed sales are up 3.5% over last year, while current listings are down -4.5% compared to 2015.
* Overall inventory still is at a record low of just a 1.6 month supply.
* Homes sold over $500,000 (231 of them) account for just 2.5% of the 9,253 homes sold YTD on our MLS.
Planning on selling? Call us at 575-0140 or 437-0209 to book a pre-listing consultation. We'll help you get your home ready for market and project your closing costs and net proceeds.