Brent Link - Blog

Market Data - Muskegon County 2005 - 2009

Brent Link — Tue, 23 Feb 2010 16:07:56 GMT

Looking for some West Michigan real estate market facts?

Here is a graph showing the number of single family home sales in Muskegon County from 2005 through 2009.

In 2005 we sold 2353 homes. 2006 was the high point when we sold 2626 homes.

2007 we were down to 2139 homes but in 2008 we sold only 1892 homes.

In 2009 we were climbing again when we sold 1974 homes.

Below is a graph showing the Average Sale Price of Single Family Homes in Muskegon County that sold through a Realtor from 2005 through 2009.

In 2005 the average sale price was $112,343. It slipped to $108,470. in 2006 and slipped even more in 2007 to $102,682. It plummeted almost $30,000. from the second quarter of 2008 through the first quarter of 2009 when hit a low of $63,784. and ended up 2009 with an average sale price of $82,086. This is mostly due to the flood of bank owned foreclosed properties flooding the market but also sellers realizing they have to price their home right to get it sold.

Waterfront and luxury homes were not as affected and actually have been quite strong.

I will post data on that in the near future.

Is The Market Turning Around?

Brent Link — Mon, 14 Dec 2009 10:04:04 GMT

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.

Brent Link

Asscoiate Broker (231)737-4004

Coldwell Banker Woodland Schmidt

Permanent eMail Address

Brent Link — Tue, 19 Aug 2008 16:18:00 GMT

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Let me know if you have any questions.

Brent