Statistics for Home Sales in Holland Comparing August 2009 to August 2008

We keep hearing about gradual improvements in the economy and the real estate market. Some analysts think it may take more than 10 years to recapture peak home prices. Others say we are already on the upward climb. It may seem like it will take years to get back to what things once were in the economy but looking at statistic we are moving in a positive direction already.
 
Southwestern Michigan Regional Information Center or SWMIC is able to analyze sales of homes in certain areas as well as over specific time frames. MLS statistics for the Holland area from August to September showed a positive improvement from 2008 to 2009. Comparing the statistics from 2008 to 2009 in the Holland area from August to September the statistics reported some positive changes in price. In comparing these two years over the same time frame it shows that in 2009 there were 140 homes sold from August to September, where 147 homes were sold in 2008 over the same time frame. In 2009 the maximum price for a home was $2,200,000. In 2008 the max price of a home was $1,200,000.
 
In 2009 the average 3 bedroom home was sold for $165,253 and was on the market an average of 80 days. From August to September in 2009 most homes were sold in less than 30 days of being on the market. The sellers received an average of 99.92% of the listing to selling price.
 
In 2008 the average 3 bedroom home was sold for $164,513 and was on the market an average of 113 days. From August to September in 2008 most homes were sold after 120 or more days of being on the market. The sellers received an average of 92.68% of the listing to selling price.
 
Looking at another study the results are not as promising. MetroMonitor with Brookings Institution did a study tracking economic recession and recovery by measuring changes in employment, unemployment, home prices, and production output by municipality for 100 of the largest cities in the United States. Grand Rapid and Detroit were the two cities from Michigan that were part of the study that took place over a period of time from April to June. According to the study Grand Rapids was ranked 63 for change in housing prices. The one year change in housing prices was down in GR by -3.4%. Detroit was ranked 77th with a decrease of -7.8%.  The United States average for a one year change in housing prices is -1.7%. The city ranked number one in a one year change in housing prices was Huston Texas with a positive change of 4.9%. Unfortunately Detroit was ranked in 100th place overall, while Grand Rapids was ranked in 85th place overall.

After looking at statistics one can be left feeling hopeful or depressed depending on how you interpret the information. What do you think?

Andrea Crossman

Andrea Crossman

Waterfront Specialists
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