Everyone can say "The market is down" or "The market is rebounding" but do they back it up with more opinions?
After a quick look at the last 3 months I can show you the stats.
Residential sales in Muskegon County from September 12, 2008 to December 12, 2008 were 526. Sales in the same time frame this year were about 4% off this year with 505 total sales.
The Average Days On Market has increased from 80 days to 84 days. That is the bad news.
The good news is the fact that the average Sale price has gained $9,590. rising from $73,707. to $83,297. for a gain of 13%.
Even though the number of sales was down by 4%, the average sale price increased by over 8.4% in total sales from $38,769,923. in that period in 2008 compared to $42,065,013. for the same period in 2009.
Now to break it down a little bit.
The Average Sale price for homes up to $100,000. increased from $46,151. to $48,781. in that time period. Average Days On market remained at 70 days.
The Average Sale price for homes between $100,000. and $200,000. increased from $136,482. to $138,723. in that time period and Average Days On Market increased from 109 days to 112 days.
The Average sale price of homes over $200,000. increased from $282,988. to $339,246. in that time period and the Average Days On Market went from 110 days to 171 days.
I would be happy to try to answer any questions you may have regarding the West Michigan Real Estate Market. I work in Kent, Muskegon, Oceana, Ottawa, and Newaygo Counties as well. I can provide statistics on waterfront, vacation homes, investment properties, as well as commercial and industrial properties. Just give me a call. I am here to help.
Asscoiate Broker (231)737-4004
Coldwell Banker Woodland Schmidt